Bac Ninh posts 10.4% economic growth in nine months

Bac Ninh province focused on implementing many synchronous solutions to remove difficulties and promote local socio-economic development, which brought about many outstanding socio-economic results in the first nine months of 2022.
Milk production and canning at Vinasoy Bac Ninh Factory.
Milk production and canning at Vinasoy Bac Ninh Factory.

According to the report of the Department of Planning and Investment of Bac Ninh province, Bac Ninh’s economy grew strongly in the first nine months of 2022, with the gross regional domestic product (GRDP) estimated at 105.1 trillion VND, up 10.04% over the same period last year.

The industry-construction sector reached 80.4 trillion VND, up 10.9%; the service sector reached 17.8 trillion VND, up 9.6%; and the agricultural, forestry and fishery sector was estimated at 2.7 trillion VND, down 0.2%.

The movements of building new-style rural areas and the One Commune - One Product (OCOP) programme, were also promoted to build synchronous infrastructure.

In particular, industrial production recovered and expanded as the industrial production index increased by 13% and retail sales of goods and services rose by 40%, while FDI attraction to industrial zones soared by 34.1%.

The import and export turnover was estimated at 65.3 billion USD in the first nine months of this year, up 1.1% over the same period last year.

Despite many socio-economic development achievements, Bac Ninh’s economy still faces difficulties, such as the slow implementation of some contents of the Socio-economic Development and Recovery Programme. The land acquisition, compensation, land clearance and construction progress of some public investment projects remain slow.

The bidding for procurement of drugs, medical supplies, chemicals and biological products and the organisational structure of human resources of the health sector still shows inadequacies.

According to the Chairwoman of the People's Committee of Bac Ninh province Nguyen Huong Giang, Bac Ninh province will focus on overcoming the shortcomings and proactively remove difficulties for businesses and stabilise people’s lives to fulfil socio-economic development targets set out for the year.

The province leader suggested that the provincial departments, sectors and localities make more effort and race against time, to speed up the disbursement of public investment capital.

In addition, the province will promote the development of high-tech industries, accelerate the progress of land clearance, and complete infrastructure and industrial zones.

The province will also focus on promoting administrative reform, improving investment and business environments for businesses, and effectively managing and increasing budget revenue.