12 localities achieve double digit growth in first nine months
In the first nine months regional GDP growth of 12 among 34 localities has been estimated at double digits contributing to national GDP growth at 9 01 per cent the highest 15 years
Twelve regions achieved double-digit GDP growth within the first nine months, according to figures released by the National Statistics Office on October 5. The country's GDP expanded by 9.95 percent compared to the same period last year, surpassing the 10 percent mark by 1.45 percentage points. Among these localities, Quang Ninh city in the north topped the list with a GDP growth rate of 12.54 percent, followed closely by Ha Tinh province (12.36 percent), Haiphong city (12.06 percent), Bac Ninh city (11.81 percent), and Ninh Binh province (11.31 percent).
During the third quarter specifically, Quang Ninh led with a staggering 15.54 percent growth, closely followed by Ha Tinh (12.36 percent), Haiphong (12.08 percent), and Bac Ninh (11.81 percent).
The strong growth across regions was mainly fueled by a surge in the industry, construction, and services sectors. Prime Minister Le Minh Hung, in a resolution issued on October 5 in response to the government's September meeting and online conference, emphasized the importance of tighter coordination among monetary, fiscal, and macroeconomic policies.
This coordination aims to curb inflation, maintain economic stability, and attain the set growth objectives. He also stressed the need to stabilize monetary and foreign exchange markets, ensure liquidity, lower interest rates, and boost businesses' access to capital.
The resolution tasked nine localities to achieve over 15 percent GDP growth in the fourth quarter. These include Hanoi (16.55 percent), Haiphong (15.39 percent), Thanh Hoa (17.10 percent), Can Tho (16.08 percent), Vinh Long (17.25 percent), Ca Mau (16.70 percent), Quang Tri (16.64 percent), Tuyen Quang (15.04 percent), and Lang Son (18.41 percent).
The government also called for more expedient allocation of public investment funds and the full disbursement of the remaining 19.58 trillion VND ($744 million) from the central budget. Additionally, the government requested thorough research and public input on significant draft laws, such as revisions to the land, housing, and real estate business laws.
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