Hai Phong asked to turn private sector into momentum of development

14:55 | 27/06/2017 Economy- Society

(VEN) - The northern port city of Hai Phong should make greater efforts to turn the private sector an important motivation of its economic development, said Prime Minister Nguyen Xuan Phuc.

PM Nguyen Xuan Phuc speaks during a working session with Hai Phong municipal Party Committee’s Standing Board - Credit: VGP

At a working session with the municipal Party Committee’s Standing Board on June 26, PM Phuc said that, despite its strong performance in the first half of 2017, Hai Phong has yet to meet requirements as the major industrial hub of the country and the driving force for socio-economic development of the northern coastal region.

The government leader asked Hai Phong to mull over development orientations to deserve its position as the third largest city of the country and develop itself into a green, modern port city, and a big centre of services and industries with high competitiveness edge.

To contribute to the country’s economic growth of 6.7% this year, Hai Phong must strive to achieve a 14% GDP growth rate in 2017, he said.

The PM suggested that Hai Phong coordinate with domestic and foreign agencies in completing its development planning to make it a leading seaport centre of the country and the region.

At the same time, Hai Phong should continue improving its investment environment, enhancing its competitiveness through speeding up administrative reform, and complete its infrastructure system for tourism, turning tourism an important economic sector of the city, he said.

Statistics released at the working session showed that in the first half of 2017, Hai Phong saw the highest gross regional domestic product (GRDP) growth in the past ten years.

The total volume of goods handed by Hai Phong port reached 43 million tonnes, up almost 13.8%, while total social investment was VND23.9 trillion, an increase of 22.56%. The city’s budget collection topped VND35 trillion, a rise of 10.7%.

Hai Phong remained one of the top ten most attractive investment destinations with 24 foreign-invested projects licenced in the first six months of this year, while 20 existing projects permitted to increase their investment, with a combined capital of US$617 million.

The city also disbursed over VND3.7 trillion as public investment, equivalent to 40.8% of the annual plan. The number of newly-established firms in the first six months of 2017 was 1,598, 23.7% higher than the same period last year, with a combined capital of over VND7.4 trillion.

Theo NDO/VNA