Investment

In the National Development Plan for the 2021-2030 period, with a vision to 2045, the Party and State place high expectations on the fundamental role of science, technology and innovation, considering this a "Breakthrough Strategy" and the "main motivation" to create breakthroughs in productivity, quality, efficiency and economy's competitiveness.

Under the National Master Plan for 2021-2030 with a vision to 2050, Vietnam strives to reach a GDP growth rate of approximately 7 percent per year during the 2021-30 period. By 2030, GDP per capita at current prices is expected to be around 7,500 USD.

The Ministry of Transport is planning to begin work on five major transport projects in the remaining months of 2023.

A project, financed by the Republic of Korea (RoK) Government's non-refundable aid, was launched on July 8 to establish a smart farm and increase pig breeding value chain in Ninh Binh province.

Building synchronic infrastructure, improving the quality of workforce, and creating a favourable investment climate are important factors that help Ninh Binh's economy gains important outcomes in the past years.

By the end of June 2023, the northern province of Ninh Binh disbursed over 2,2 trillion VND ( 95,6 million USD), equivalent to 27.2% of the plan.

Prime Minister Pham Minh Chinh chaired a meeting between permanent Government members and the executive committee of the Vietnam Association of Small and Medium Enterprises (SMEs) in Hanoi on July 6 to seek solutions to challenges facing SMEs.

Gross regional domestic product (GRDP) of Ninh Binh rose 7.56% in the first half of this year, according to the provincial Statistics Office.

Many businesses, cooperatives and individuals in Ninh Binh province have put OCOP products for sale on e-commerce platforms.

Vietnam aims to become a developed country by 2045 and achieve net zero emissions by 2050. It is considered an ambitious goal but also a challenge for a developing country like Vietnam.

Deputy Prime Minister Tran Hong Ha has given his instructions on the building of Ninh Binh - Hai Phong expressway.

In 2022, Vietnam had 14,790,075 ha of forest area, of which 10,134,082 ha were natural forests and 4,655,933 ha were planted ones, the Ministry of Agriculture and Rural Development announced in a decision on June 20.

More than 3.22 trillion VND (136.65 million USD) of public investment capital from foreign sources was disbursed in the first six months of this year, completing 27.2% of the target set for the whole year, according to Truong Hung Long, Director of the Department of Debt Management and External Finance under the Ministry of Finance (MoF).

Ninh Binh posted an economic growth rate of 7.56% growth in the first half of 2023, ranking 6th in the Red River Delta and 12th out of the country's 63 provinces and centrally-run cities.

In the first six months of 2023, Ninh Binh has faced difficulties in production and business activities and socio-economic development, resulting in poor performance in budget collection. However, the provincial tax sector has implemented solutions synchronically in a bid to complete the task of collecting over 18 trillion VND (773 million USD) for the budget in 2023.

Ninh Binh province currently has 63 craft villages which specialise in processing agro-forestry-aquatic products and producing handicrafts. Most of the craft villages are operating stably, creating jobs and increasing incomes for rural people.

The northern province of Ninh Binh has to date attracted 93 foreign direct investment (FDI) projects with total registered capital of 1.56 billion USD, the provincial Department of Planning and Investment has reported.

A groundbreaking ceremony was held in Hanoi on June 25 for the construction of Ring Road No.4 in the Hanoi Capital Region and the first phase of Cao Lanh - An Huu Expressway in the Mekong Delta province of Dong Thap.

In a joint effort to have the European Commission (EC)'s "yellow card" warning against Vietnam's seafood lifted, Ninh Binh authorities have actively instructed related units and agencies to take a wide range of measures to prevent illegal, unreported, and unregulated (IUU) fishing.