HA NAM ECONOMY AND ITS PROMISING STATISTICAL FIGURES 2023-2024

According to the People's Committee of Ha Nam province, the Gross Regional Domestic Product (GRDP) reached 46,065 billion VND in 2022. By 2023, this figure surged to 50,201.9 billion VND, marking a significant 9.41% growth compared to 2022 and placing Ha Nam among the top 10 provinces with the fastest economic growth rates nationwide. This positive economic landscape is bolstered by continued positive trends in the province's industrial production sector.

Highlighting the economic report for the first five months of 2024, recently released by the General Statistics Office, service activities have been vibrant and significantly higher compared to the same period last year. State budget revenues have increased by 1.3% over the same period, with domestic revenue up 1.3% from 2023 and revenue from export activities also on the rise.

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Ha Nam's industry plays a leading role in economic growth Following Resolution No. 11-NQ/TU dated September 15, 2021, of the Provincial Party Committee on promoting industrial development, especially high-tech industries, supporting industries, processing, manufacturing, and modern industrial service development in the period from 2021 to 2025, with a vision to 2030, the province has implemented comprehensive measures since the early months of the year to overcome investment bottlenecks, boost investment promotion both domestically and abroad, and develop enterprise support services for production and business within industrial zones (IZs).

These efforts have yielded positive signs in local industrial production. Clearing bottlenecks has improved the investment environment, attracting numerous new projects, particularly in high-tech, processing, and manufacturing sectors. Investment promotion activities have expanded opportunities for cooperation with domestic and foreign investors, providing new avenues for provincial development. Support services for enterprises within IZs have also seen significant improvements, stabilizing production and enhancing business efficiency.

Key economic indicators related to industrial production have shown significant increases, demonstrating the effectiveness of the province's policies and solutions. This has not only contributed to sustainable economic development but also facilitated favorable conditions for businesses to expand production and improve competitiveness in the market.

According to the report from the Ha Nam Statistics Office, the Index of Industrial Production (IIP) in May 2024 recorded a 3.25% increase from April and a 10.54% increase from May 2023. Overall, in the first five months of 2024, IIP increased by 14.03% year-on-year. Notably, 14 out of 26 secondary industry sectors achieved high production growth rates compared to the same period in 2023, with significant increases seen in the production of electronic products, computers, optical products (+25.92%), electrical equipment (+32.78%), and rubber and plastic products (+26.93%)...

Many industrial products in the first five months of the year also saw growth compared to the same period, including electric wires, electronic equipment components, various types of beer, ready-made garments, chilled pork, and chicken.

As of May 25, Ha Nam province attracted 23 investment projects, including 8 FDI projects and 15 domestic projects, with total registered capital reaching USD 55.8 million and 1,945.4 billion VND. At the same time, the province adjusted capital increases and reductions for 13 projects (7 FDI projects and 6 domestic projects), with an additional capital of USD 6.7 million and 763.3 billion VND. Currently, the province has 1,200 active investment projects, including 395 FDI projects with a total registered capital of USD 6,010.5 million and 805 domestic projects with a total registered capital of 171,830 billion VND.

In the first five months of the year, the province recorded the establishment of 345 new enterprises, a 9.5% increase compared to the same period in 2023, with total registered capital reaching 5,850 billion VND, an 85% increase year-on-year. The number of laborers working in industrial enterprises in May 2024 was estimated to increase by 12.17% compared to the same period last year. Overall, in the first five months of 2024, the labor utilization index in industrial enterprises increased by 15.36% year-on-year, with the FDI enterprise sector experiencing the highest increase at 15.77% and the non-state enterprise sector increasing by 2.15%.

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Commerce and services resume vigorous activities In May, commercial and service activities in Ha Nam province continued to maintain stability, with the commodity market showing positive developments and sufficient supply of essential goods such as food, meeting the full consumption needs of residents. Importantly, basic transport activities have adequately met the needs of transportation and circulation of goods serving production and business activities in the locality.

As of May 2024, the total retail sales of goods and service revenue in Ha Nam have increased by 14.1% compared to the same period last year, contributing to an overall increase of 11.1% compared to the first five months of 2023. Specifically, revenue from retail sales of goods reached 17,756.3 billion VND, up 8.2%; revenue from accommodation and food services reached 1,229.1 billion VND, up 5.8%; revenue from tourism and travel services reached 685.7 billion VND, a significant increase of 178.3%; and revenue from other services reached 2,125.6 billion VND, up 18.1%.

Regarding the management of budget revenues, according to the report from the Department of Finance, Ha Nam province achieved an estimated state budget balance of 5,608 billion VND in the first five months of 2024, up 1.2% compared to the same period last year and reaching 34.9% of the local estimate. Specifically, domestic revenue reached 4,958 billion VND, up 1.3%, and achieved 34.5%; revenue from import-export activities reached 650 billion VND, up 0.3% year-on-year and achieved 38.6% of the local estimate. Alongside budget revenues, local budget expenditure has been balanced to meet expenditure tasks according to the estimate, especially in the fields of state administrative machinery operations, social security expenditures, ensuring national security, defense, and investment in development. In May, new projects such as the upgrade of Le Duan Avenue and the construction of the North-South railway overpass commenced, promising positive contributions to local economic development.

The economic indicators for May and the first five months of 2024 show the recovery and growth of Ha Nam's economy, with activities such as private investment, foreign investment, and industrial production continuing to develop. Commerce and service activities have resumed vibrantly, contributing positively to growth and ensuring social welfare.

Overall, with Ha Nam province's efforts in attracting investment, industrial development, and improving the business environment, the local economy is making steady progress, promising significant prospects in the years ahead.

(Source: Ha Nam News)