The economic structure of Hai Phong city has shifted positively towards industrialisation, modernisation and urbanisation, with the proportion of added value in the service and industry-construction sectors increasing sharply from 84.91% in 2005 to 90.21% in 2021, while the proportion in the agriculture, forestry and fishery sectors decreased from 12.96% in 2005 to 3.97% in 2021.
Standing Vice Chairman of Hai Phong City People’s Committee Le Anh Quan said that Hai Phong city has gained many achievements in all fields over recent years, becoming one of the leading localities in the cause of industrialisation and modernisation, and the engine to promote the development of the Northern region and the whole country.
The strong economic development has contributed to increasing the total state budget revenue of Hai Phong by 16.2% per year during the 2005-2021 period and raising gross regional domestic product (GRDP) per capita to 152.34 million VND in 2021, 12.6 times higher than in 2005. People’s living standards have been significantly improved with the rate of poor households decreasing from 10.26% in 2005 to 0.2% in 2020 and 2021. Per capita income reached 62.39 million VND per year in 2020, 1.22 times higher than the national average and 1.02 times higher than the average level in the Red River Delta region.
In particular, large investment has been poured into the socio-economic infrastructure system of Hai Phong city, especially traffic infrastructure with a series of large projects such as the Dinh Vu-Cat Hai sea crossing bridge, Hoang Van Thu bridge, Rao bridge, and others. This major traffic works not only helps improve the internal transport infrastructure system but also increases regional connectivity, thereby, affirming Hai Phong’s role as an important traffic hub and the main gateway to the northern sea.
Deputy Head of the Party Central Committee’s Economic Commission Nguyen Duy Hung said that Hai Phong city has made great progress over the past 10 years. In particular, the economic scale of the port city has been constantly expanding, maintaining the second largest in the Red River Delta, after Hanoi. Hai Phong’s GRDP reached 315.7 trillion VND in 2021, 14.8 times higher than in 2005. The economic growth rate remains stable at over 10% per year which is also the leading growth level among other localities in the country.
Focusing on removing “bottlenecks”
According to the Chairman of the People’s Committee of Hai Phong city, Nguyen Van Tung, Hai Phong will make every effort to overcome difficulties and challenges that are hindering the city’s development, including the slow expansion rate of urban space, asynchronous transport infrastructure, and limited connectivity between five modes of transport (road, sea, river, railway and air) which is the distinct advantage of Hai Phong.
In addition, the city’s seaport infrastructure has not been paid the proper attention, and there is no modern logistics centre of regional and international stature. Hai Phong has yet to fully promote its role as a major seaport and shipping service centre of the country.
The city authorities are focusing on removing bottlenecks and preparing conditions to attract investment waves for further development. In particular, priority is given to the processing, manufacturing, high-tech and environmentally friendly industries so that Hai Phong can become a major industrial centre of the country.
The city will promote its development according to the identified strategic orientations such as investment in construction, modernisation of the city with its own distinctive identity and turning Hai Phong into a major tourist centre.
Despite the effects of the pandemic, the GRDP growth rate of the city reached 11.1% in the first six months of 2022, the highest level among other localities, while budget revenue hit nearly 54 trillion VND, up 18.5% and export revenue reached 13.1 billion USD, up 9.12% over the same period in 2021.
Hai Phong has become a destination for many large-scale corporations and enterprises both at home and abroad. In 2021 alone, 29 new foreign direct investment (FDI) projects were registered to invest in Hai Phong. Many large projects were granted with investment certificates and are now under construction, such as wharves No.5 and No.6 at Lach Huyen deep-water port, Lach Huyen non-tariff-logistics and industrial zone, Tien Thanh Industrial Park, and others.
The goal of building Hai Phong into a leading city for the cause of industrialisation and modernisation and the driving force of the Northern region and the whole country is soon expected to become a reality.