ANN/THE VIETNAM NEWS – Quang Ninh Province in Vietnam has secured over USD1.52 billion in foreign direct investment (FDI) during the first half of this year, positioning itself well to achieve its annual target of USD3 billion.
The province’s Investment Promotion and Support Board highlighted that the majority of FDI has flowed into high-tech sectors and environmentally sustainable industries, enhancing Quang Ninh’s integration into the global value chain.
FDI in the manufacturing and processing industries is particularly helpful for the province’s development goals, which helped establish production chains in the electronics and garment industries.
The northern province registered a gross regional domestic product (GRDP) of 9.02 per cent, ranking fourth in the Hong (Red) River Delta region and eighth out of 63 provinces and cities in the country.
The manufacturing and processing industry was the standout of the province in the first half of this year with a growth rate of 23.05 per cent, 10.3 percentage points higher than the same period last year.
The province collected an estimated sum of VND30.774 trillion (USD1.2 billion) for the State budget in the first six months of this year, or 55 per cent of its target.
Over the same period, 795 new firms were founded in the province, creating about 17,400 jobs. This figure is up 12.6 per cent year-on-year.
