Quang Ninh Sees Remarkable Socio-economic Development Pace

3:26:28 PM | 8/7/2005

With greater determination and efforts, Quang Ninh province has mobilised an investment of VND12,000 billion in 2004, up 20 per cent compared to 2003 (20 per cent in State-owned sector, 35 per cent in FDI and 46 per cent in enterprises managed by the province).

Together with budget revenue, the province got bank loans and foreign aid to build important projects such as: bridges in Van Don and Bang, a general hospital, and contribute to the construction of Bai Chay bridge, Highway 279, Ha Long - Cam Pha drainage system. In the same year, the province reserved VND25 billion for the economic restructuring (mainly agriculture-forestry-fisheries), some VND1 billion for technology transfer, VND27 billion for schools and VND184 billion for hospitals. 88 per cent of the investment are mobilised from the internal sources.

In 2005, the investment capital is expected at VND49,000 billion, VND29,000 billion more than was planned. While the State capital decreased in proportions from 18 per cent in 1996-2000 to 7 per cent in 2004, FDI and ODA increased respectively 25 and 50 per cent, contributing to the fast and sustainable development of Quang Ninh.

Creative developments and high growth rates have been recorded in such sectors as coal, electricity, tourism and seaports. Coal output increased by 34 per cent (30 per cent in domestic consumption and 61 per cent in export). The electricity output was 750 Kwh, or 19 per cent more than 2003. The ship-building industry has successfully built a 12,500-tonne ship and is going to build 53,000-tonne ship. The auto industry can now assemble big trucks such as KRAZ and KAMMAZ for local use and export. Output and quality increased from 19 to 48 per cent in other industries namely cement, tile, porcelain, beer, refreshment. Quang Ninh port has rented deep-water Cai Lan seaport for 50 years with a total investment of VND1,800 billion for business expansion.

In 2004, the coal sector makes up 80 per cent in industrial value of the province, up 27 per cent against 2003, and has become second in export growth rates of Vietnam (after wooden products), increasing the export value of Quang Ninh to US$471 million, 73 per cent more than 2003, and 60 per cent more than was planned.

Quang Ninh is now among the Top Ten Vietnamese provinces and cities with local incomes of over VND1,000 billion and is in the Top 15 for revenue with a year-on-year increase. In 2004, the number of poor households was reduced by 2,824, down 10 4.4 per cent. GDP increases 12.9 per cent. Most of the targets have been achieved with some even exceeding the plans or targets of 2005.