Investment

Deputy Prime Minister Le Van Thanh has signed Resolution No. 138/NQ-CP issuing the national master plan for the 2021-2030 period, with a vision to 2050.

The consumer price index (CPI) posted year-on-year growth of 2.89% in the first 10 months of 2022 while core inflation rose 2.14%, the General Statistics Office (GSO) revealed on October 29.

The Departments of Industry and Trade of Ninh Binh, Ca Mau and Bac Lieu jointly held a conference on October 30 to connect goods supply-demand among these provinces.

Enterprises in Ninh Binh province's industrial parks (IPs) are making efforts to boost production, thereby fulfilling their yearly tasks and plans. In addition, administrations at all levels, departments and sectors, have always accompanied the enterprises to ease difficulties in terms of mechanisms and polices in a bid to help them revive and develop production and business activities.

Vietnam attracted more than 18.7 billion USD in foreign direct investment (FDI) in the first nine months of 2022, according to the Ministry of Planning and Investment.

Ninh Binh province has planned 25 industrial clusters on a total area of 946.3 hectares by 2025, according to Decision No.1496/QD-UBND of the provincial People's Committee dated December 31, 2015.

Vietnam is making efforts to boost digitalisation with a view to becoming a digital nation by 2030.

Having taken people as the centre, subject and momentum, Ninh Binh is striving to accelerate digital transformation for better lives of local people. The people's response and use of digital platforms will become an important factor to prompt the administration to strongly accelerate the digital transformation process.

Six commodities registered an export value of over 10 bln USD in the first eight months of 2022, accounting for 63.9 percent of the country's total exports.

The Department of Agriculture and Rural Development of Ninh Binh province organised a meenting on October 7 to review the sector's performance in the first nine months and launch tasks and solutions in the remaining quarter of 2022.

Ninh Binh ranked among the top localities with a high rate of public investment disbursement. The outcome was attributed to the efforts of party committees and administrations at all levels.

With over 70% population living in rural areas and mainly relying on agricultural production, Ninh Binh has seen digital transformation as a chance to solve its weaknesses in agriculture sector such as small and underdeveloped production models and a lack of value chain connection.

The Ministry of Agriculture and Rural Development has decided to carry out a project on tasks and measures realising outcomes of the 26th United Nations Climate Change Conference.

Ninh Binh province boasts numerous advantages to develop industries such as automobile assembly and manufacturing, electronic components, textile and garment. However, these sectors heavily rely on imported materials, resulting in higher costs and independence in production. Based on its advantages in terms of geographical location and foreign direct investment (FDI) attraction policies, Ninh Binh will focus on attracting investment in supporting industries in the time to come.

After a long period of meticulous preparation, the dossier of the National Master Plan for the 2021-2030 period, with a vision to 2050, has been approved by the Appraisal Council of the Government and then will be submitted to the National Assembly for consideration and approval at the upcoming session in October.

Small-scale farmers provide an estimated one third of global food output but are facing increasing fiercely climate conditions such as droughts, storms and floods, necessitating measures to boost sustainable development to cope with climate change, experts said at an international conference opened in Hanoi last week.

Though price fluctuations and political conflicts have affected international trade, Ninh Binh province's export still achieved impressive growth in the first eight months of 2022.

The Asian Development Bank (ADB) has maintained its favourable economic outlook for Vietnam as it forecasts the country's gross domestic product to expand 6.5% in 2022 and 6.7% in 2023, based on the update of its flagship economic report released on September 21.

The Vietnam Bank for Social Policies (VBSP)'s Ninh Binh Branch has provided more than 9.84 trillion VND (415.63 million USD) in soft loans for 547,871 poor households and other policy beneficiaries in the northern province over the last two decades.