Ninh Binh’s budget collection exceeds 39 trillion VND in seven months

In the January - July period, the province’s economy continued to make breakthroughs. The province’s Index of Industrial Production (IIP) increased 22.52% against the same period last year.

The processing and manufacturing industry played a vital role with growth of 23.36%. The group of electronic products, computers, and optic products took the lead thanks to high production value.

However, the manufacturing of automobiles, glass and cement still faced challenges due to markets and tax policies.

The agriculture sector ensured the progress of production with 113,000 hectares of rice and nearly 13,900 hectares of vegetables. Livestock maintains stable growth while animal diseases have been controlled though African swine fever has hit 39 communes with over 8,100 sick pigs culled.

The fishery sector saw a year-on-year rise of 3.8% with 171,950 tonnes of products.

The trade and service sector enjoyed strong performance with total retail sales of goods and services hit 156.32 trillion VND (686 million USD), posting a year on year rise of 21.2%.

The province’s total export value reached over 18.83 billion USD in the seven months, a year-on-year increase of 59.9%.

In the January - July period, Ninh Binh served nearly 14.7 million visitors and earned over 13.34 trillion VND (58.6 million USD) in revenue.

The province’s budget collection revenue was estimated at over 39.3 trillion VND (1.7 billion USD), making up 76% of the estimate. Of which, domestic collection was 18.42 trillion VND, revenue from land use rights was 17.76 trillion VND and earnings from import-export activities reached 2.96 trillion VND.

Public investment disbursement hit nearly 23.4 trillion VND (1.02 billion USD), representing 81.7% of the plan. The figure has shown the accelerated progress of key projects.

Investment attraction remained a bright spot as the province has granted certificates of investment to 237 new projects with total registered capital of nearly 84.4 trillion VND (3.7 billion USD), including 62 FDI projects worth 1.4 billion USD.

In the reviewed period, up 5,035 new enterprises were established in the province with registered capital of 44.65 trillion VND (1.9 billion USD).

These figures reflected the clear investment climate with high capacity of luring capital and attractiveness of industrial clusters and zones.

In general, the province’s economic picture in July and the first seven months of the year showed comprehensive growth of economic sectors. Industry continued to play a driving role, services - tourism maintained strong growth momentum, agriculture remained stable, the budget and public investment reached high rates.

Challenges still existed in some key production sectors and the risk of disease in livestock farming, but with the current pace, the province has the basis to complete the socio-economic goals in 2025.