Quang Ninh expects 12 percent H2 growth

09:08 | 14/07/2015 Local Economy

Northeastern Quang Ninh province expects a GDP growth of 11-12 percent in the second half of the year, it was reported at a recent business conference.

Quang Ninh expects 12 percent H2 growth

A corner of Ha Long city, northern Quang Ninh province (Photo: VNA)

Nguyen Van Doc, Chairman of the provincial People's Council, praised the contribution of businesses to the province's economic development in the first half of the year. The province's GDP in the six month period reached 8.9 percent, taking second place among localities in the key economic northern region.

Doc said this contribution to the State budget was relatively high, especially as revenues from local production accounted for 56 percent of the total.

"These results were thanks to the important contribution of enterprises," he said, adding that Quang Ninh province would continue supporting companies, as well act to quickly assist them in any difficulties they confront.

Statistics from the provincial Department of Planning and Investment showed that businesses in the province have increased production due to the Government's supporting policies, as well as their own efforts.

In the first half of the year, State-owned enterprises had the highest contribution to the State budget at 4.2 trillion VND (194.4 million USD), posting a 2 percent year-on-year increase.

Further, increases in foreign direct invested enterprises was 15 percent lower than the same period last year, reaching 474 billion VND (21.9 million USD), while non-governmental businesses contributed 808 billion VND (37.4 million USD), which was 10 percent higher than the corresponding period last year.

Nguyen Van Minh, the department's director, said the province had 516 newly established businesses with total registered capital of 6.5 trillion VND (300.9 million VND), representing 40 percent and 187 percent year-on-year increases, in terms of business numbers and capital, respectively.

It was expected that 5,660 people would be employed by the newly established firms, an increase of 64 percent over the same period last year. More than 160 companies reported operations that were 1.7 percent higher than last year.

However, there were 66 companies in the midst of dissolving, while another 215 firms halted operations.

He said the province received 64 proposals from businesses as of July 7. Of these, 22 proposals came from the coal industry and 42 ones from other economic sectors.

The proposals were related to policies on land, natural resource management, investment, administrative procedures, transport management and minerals. The province answered the proposals of each unit.

Neerav Kumar Gupta, General Director of the Tien Phong Industrial Zone Company, which was granted licence to build the South Tien Phong Port in Quang Yen town, said they had faced difficulties due to transport, electricity and water infrastructure. He expected that the province would have solutions to create favourable conditions for their operation.

The province's leader said they had studied solutions to meet their commitments relating to their support of the infrastructure.

A representative from the Mong Duong Thermopower Plant 2 said they had received much attention from the province regarding land clearance, licencing and infrastructure development. They had also striven to ensure issues of progress and labour safety.

He proposed that the province should continue to improve the provincial competitiveness index (PCI), training high quality employees.

In addition, they expected to received preferential assistance in building the Mong Duong Thermopower Plant 3.

Other businesses also hailed the province's efforts in helping them overcome difficulties./.

Source: VNA

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