The Gross Regional Domestic Product (GRDP) of the northern port city of Hai Phong is expected to grow 15.5 percent and its domestic budget collection is projected to exceed 26.3 trillion VND (1.1 billion USD) in 2019.
Hai Phong (VNA) – The Gross Regional Domestic Product (GRDP) of the northern port city ofHai Phong is expected to grow 15.5 percent and its domestic budget collectionis projected to exceed 26.3 trillion VND (1.1 billion USD) in 2019.
The targets were set at a meeting of the municipal People’s Committee onJanuary 8, which also aims for 129.2 million tonnes of cargo to be handled atports and 47 communes to be recognised as new-style rural areas.
The city hopes to welcome more than 9 million tourists and attract 1.5 billionUSD in foreign direct investment in the year.
Hai Phong has put forth various solutions to develop the economy in tandem witheconomic restructuring and growth model reforms, with the private sector a keyeconomic driver.
The city will also work to ensure an equal business environment, improve thequality of human resources and streamline administrative procedures, heard themeeting.
In his remarks, Secretary of the municipal Party Committee Le Van Thanh saidHai Phong has been a leading locality in development over the past three years.
Nguyen Van Tung, Chairman of the municipal People’s Committee, said budgetcollection and spending is an important task in 2019 and asked agencies to reviewland use in the city and supervise sectors which underpay taxes, such astransportation, restaurants and hotels.
He also urged agencies and localities to implement plans for the upcoming LunarNew Year (Tet) holidays, with attention paid to taking care of social policybeneficiaries.
Hai Phong’s economic growth has beenrelatively fast, about 1.68 times higher than the national average. In 2017,the economy expanded 4.27 times from 2003’s figure, per capita GDP reached3,964 USD, 1.54 times more than the national average and up 5.43 times from2003.
Breakthroughs have been recorded in theindustrial sector as many industrial parks and major projects, such as those ofNomura or Vinfast, have been launched, consolidating Hai Phong’s role as one ofVietnam’s key industrial hubs.
Nearly 488 trillion VND (21 billion USD) of investment was poured into the cityby Vietnamese and foreign businesses between 2003 and 2017, up 16.6 percentannually.-VNA
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Illustrative image (Photo: VNA) 
