Hai Phong maintains double-digit growth rate for 10 consecutive years
The northern port city of Hai Phong achieved a gross regional domestic product (GRDP) growth rate of over 11% last year, ranking third nationwide in terms of economic development.
2024 was the 10th consecutive year that the city maintained a double-digit growth, according to data released by the Hai Phong Statistics Office on January 6.
The city’s GRDP was estimated at nearly 288.5 trillion VND (11.4 billion USD) last year, up 11% from 2023.
2024 is also the first year that Hai Phong entered the top five provinces and cities with the largest economies in the country, with several socio-economic indicators completed earlier than expected and surpassing the set targets.
The city’s total State budget revenue reached over 118.3 trillion VND (4.66 billion USD), exceeding the target assigned by the central government by nearly 21% and the target assigned by the municipal People’s Council by 11%.
Investment capital in the city increased by over 10%, retail sales and service revenue by 13.6%, the industrial production index (IIP) by 15.4%, and the consumer price index (CPI) by 3.1 %.
The city also continued to be an attractive destination for domestic and foreign investors, with total investment capital reaching over 211 trillion VND (8.3 billion USD), up more than 10% compared to 2023.
Of this, nearly 5 billion USD was capital from foreign direct investment (FDI), up by nearly 7% from 2023. It included 126 new projects with registered capital of more than 750 million USD and 72 adjusted projects worth 3.7 billion USD.
