Thua Thien-Hue achieves GDP growth of 7.44% in first half

The central province of Thua Thien-Hue recorded a gross domestic product (GDP) growth rate of 7.44% in the first half of 2017, much higher than the figure of 5.8% in the same period last year.

thua thien-hue achieves gdp growth of 7.44% in first half hinh 0

Statistics revealed at the fourth meeting of the provincial People’s Council on July 13-14 showed that the total social investment in Thua Thien-Hue reached VND8,538 billion (US$376 million), while the state budget collection hit VND3,308 billion (US$145.55 million), accounting for 48.3% of the yearly target.

In 2017, the province has focused on investing in infrastructure to serve production and economic development while protecting the environment, ensuring social welfare and addressing consequences caused by the marine environment incident.

Thanks to the province’s efforts to improve its investment and business environment and provide incentives for investors, 324 enterprises were set up in the period, with a combined registered capital of VND3,772 billion (US$166 million), up 17.8% in volume and 3.65-times higher in value.

The locality also lured 21 domestic projects with total investment of over VND2.2 trillion (US$96.8 million), and two foreign investment projects worth US$64,850.

The industrial production index rose 13.45% from a year earlier, mainly buoyed by an increase of 2.24 times in electricity production and other key goods, including cement, garment-textiles and material construction.

In the reviewed period, Thua Thien-Hue welcomed 1.75 million arrivals, including 414,500 international visitors, up 1.9% and 6.76% year on year, respectively. The tourism sector earned VND1,735 billion (US$76.34 million), up 8.3% from 2016.

In the remaining months of this year, incentives will also be offered to craft villages, cooperatives while revising legal framework to maintain domestic flights, accelerating the launch of more domestic and international flights, and developing other facilities.

The province will provide support for investors in building infrastructure at local industrial parks, building a garment-textile supporting industrial park in Phong Dien district while focusing on agricultural development and new-style rural area building.

In 2017, the province set a GDP growth target of between 8-8.5%, mobilise total investment of VND19 trillion (US$836 million), and collect VND6,856 billion (US$301.66 million) for the state budget.


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