Investment

The Ninh Binh Provincial People's Committee has held a monthly meeting to evaluate the province's socio-economic development situation in August and set out orientations and tasks for September.

The Resolution of the 22nd Congress of the Party Organisation of Ninh Binh province for the 2020-2025 tenure defined three breakthroughs, including the development of synchronic, effective and quality infrastructure. Therefore, Ninh Binh has stepped up the construction of numerous key transport projects, thus completing transport infrastructure in the province.

About 14.15 billion USD worth of foreign direct investment (FDI) was disbursed in the first eight months of this year, up 8% year-on-year, marking the highest for an eight-month period over the past five years, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The Ninh Binh provincial administration's diligence, listening and spirit of cooperation with businesses is being clearly affirmed by the assessment of the quality of economic management, business environment, and increasingly improved administrative reform.

In order to produce beautiful products from sedge, craftsmen of the coastal district of Kim Son have constantly designed new products and applied modern technologies to improve the quality of the products.

The 500kV Circuit-3 power transmission line linking Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen holds special significance in many aspects of economics, politics, society, national defence and security, stated Prime Minister Pham Minh Chinh at the project's inauguration ceremony in Hung Yen on August 29.

Leaders of Ninh Binh, including Secretary of the provincial Party Committee Doan Minh Huan, Chairman of the provincial People's Council Mai Van Tuat and Chairman of the provincial People's Committee Pham Quang Ngoc on August 23 inspected the progress of some public investment projects in the province.

Over the past few years, the northern province of Ninh Binh has enjoyed fast growth and become an attractive destination in the northern key economic region.

A 500-day emulation campaign for completing 3,000km of expressways was launched at a ceremony held in the presence of Prime Minister Pham Minh Chinh in the Central Highlands province of Dak Lak on August 18.

Once completed, Ninh Binh-Hai Phong expressway's section running through Ninh Binh province will form a key economic development corridor in the northern part of Ninh Binh province.

In an effort to improve living conditions of people in rural areas and expand markets for local farm produce, the northern province of Ninh Binh has focused on developing key local products in association with the OCOP programme, thereby building brands for local farm produce and increasing their values.

Many economic sectors in Ninh Binh province maintained stable growth in July such as industrial production and tourism.

Ben Moi bridge connecting Ninh Binh and Nam Dinh provinces is expected to be completed and put into operation in October 2024 after years of construction and falling behind schedule.

Despite numerous difficulties and challenges from complicated and unpredictable global developments over the first seven months of this year, Vietnam's economy continued to record positive outcomes thanks to the effective implementation of the Government's resolutions to promote growth.

To facilitate the supporting industry's growth and implementing the provincial Master Plan in the 2021-2030 period, with a vision to 2050, the northern province of Ninh Binh has paid heed to developing industrial parks and clusters, building and implementing programmes on technical infrastructure investment in the supporting industry to promote internal strengths and ensure sustainable development.

Foreign investors registered to put in more than 18 billion USD in Vietnam as of July 20, a rise of 10.9% over the same period last year, according to the latest updates of the Foreign Investment Agency.

The removal of legal bottlenecks has helped spur the recovery of the real estate market in Ninh Binh province after a long time of freezing.

In the first six months of 2024, state budget collection in Ninh Binh province saw positive signs with 12 out of 15 receipts and taxes achieving high growth compared to the same period of the previous year.

The Vietnamese Government has outlined a comprehensive action plan to continue fasttracking the country's industrialisation and modernisation by 2030, with a long-term vision extending to 2045.