Hanoi (VNA) 🦩– The budget revenue of the northern port city of Hai Phong totaled nearly 96.2 trillion VND (3.8 billion USD) in the first 10 months of 2024, up over 29% year-on-year, equivalent to more than 90% of the target set by the municipal People's Council.

According to the office of the municipal People’s Committee, the locality recorded stable economic growth in October and the last 10 months. Several economic indicators continued to show substantial growth compared to the same period last year. Of the figure, domestic revenue accounted for nearly 41.5 trillion VND, up 59% compared to the same period last year; and the earnings from import-export activities reached nearly 53.6 trillion VND, representing a year-on-year increase of 14%. Seaport cargo throughput exceeded 145 million tonnes, up more than 10% from the same period in 2023 and equal to 76% of the plan set for the year. In the last 10 months, Hai Phong attracted 1.8 billion USD in foreign investment, down 41% year-on-year, equivalent to 94% of the annual target. Its index of industrial production (IIP) increased by over 14% compared to the same period in 2023. Regarding public investment disbursement, as of October 20, 2024, nearly 9.45 trillion VND had been disbursed, accounting for 56% of the plan assigned by the Prime Minister, and 47.3% of the plan assigned by the city.

According to the municipal Department of Tourism, Hai Phong welcomed over 7.8 million visitors in the reviewed period, up 14.1% year-on-year, including 832,000 foreign arrivals. The city’s tourism revenue is expected to reach 9.4 trillion VND in 2024. The municipal Department of Industry and Trade reported that the goods market in the city remained stable during the first nine months of 2024, with a plentiful supply of commodities meeting the consumption and production demand. The total retail sales of goods and services in the last 10 months increased by 13.45% year-on-year to nearly 185.56 trillion VND, achieving 83.4% of the annual plan The retail sales of goods totaled an estimated 154.28 trillion VND, up 14.05% against the same period last year. Meanwhile, revenue from accommodation rose by 13.14% to 21.87 trillion VND, and tourism service hit 254 trillion VND, up 10.43%, in the period. It is expected that the total retail sales of goods and consumer services revenue for 2024 will exceed the plan. According to Le Minh Son, Deputy Director of the municipal Department of Industry and Trade, the agency has closely coordinated with the Domestic Market Department under the Ministry of Industry and Trade, as well as other departments, sectors, and localities to proactively monitor the production and business activities of enterprises in the city. Attention has been paid to regularly tracking and evaluating the supply and demand of goods to take suitable plans and measures to ensure a balance between supply and demand and stabilise the market, he noted. In its efforts to fight smuggling, trade fraud, and counterfeit goods, the municipal department has coordinated with Coast Guard Region 1 to inspect and detect four cases of illegal transportation of 3,280 cubic metres of sand, and two others of over 30,000 litres of oil in the waters of Hai Phong. The department has conducted 20 inspections to assess compliance with the law in terms of alcohol, electricity, foreign-related goods trading, supermarket operations, and e-commerce. As a result, 40 entities violating regulations on business activities were discovered, resulting in administrative fines totaling over 1 billion VND./.