At the press conference announcing socio-economic statistics held on December 30, Mr. Vu Minh Giang, Director of the Bac Ninh Provincial Statistics Office, said that in 2023, the world economy will continue to face many difficulties and challenges. Strategic competition between major countries is increasingly fierce and comprehensive, increasing geopolitical tensions; the complicated Russia-Ukraine conflict, and fighting in the Middle East have severely affected the socio-economy of the country in general and Bac Ninh in particular.

“Faced with that situation, the province has made efforts to improve the economy through leadership, direction, and management solutions, along with the efforts of the business community and economic establishments in the province, but the province's GRDP (according to 2010 comparative prices) still decreased by 9.28% compared to the same period. This is the largest decrease ever and also the province with the deepest decrease among 63 provinces and cities,” Mr. Giang shared.

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Director of the Bac Ninh Provincial Statistics Office Vu Minh Giang explains the reasons for Bac Ninh's economic growth decline.

Also according to Mr. Giang, regarding the economic structure in 2003, the agricultural, forestry and fishery sector accounted for 2.88%; the industrial and construction sector accounted for 72.18%; the service sector accounted for 20.68% and product tax was 4.26%.

Compared to 2022, there is a significant change in the direction of the proportion of the industrial - construction sector decreasing by 3.74%%; services increasing by 3.04%; agriculture increasing by 0.27%; production tax increasing by 0.43%.

During the year, 3,461 new enterprises were established with a total registered capital of VND34,333 billion, an increase of 28.4% over the same period in terms of the number of enterprises and an increase of 51.9% in terms of total additional registered capital.

The number of enterprises returning to operation was 893, up 9.2% over the same period last year; but there were also 349 enterprises voluntarily dissolved, up 8.4%, and 1,939 enterprises temporarily suspended operations, up 29.7%.

By December 20, 2023, the province had 22,275 registered enterprises, an increase of 14.4% over the same period last year, with a total registered charter capital of VND 392,918 billion, an increase of 14.3% and 5,765 affiliated units, an increase of 15.9%.

Regarding the general solution direction, Deputy Director of the Bac Ninh Provincial Statistics Office Khong Van Thang said that in the coming year, the locality needs to strengthen existing capacity, consolidate the foundation, ensure economic stability, and enhance the adaptive capacity and resilience of the economy.

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Bac Ninh People's Committee assessed that the world situation in 2024 will continue to have more complicated and difficult developments than in 2023.

“Speed ​​up disbursement of public investment capital from the beginning of 2024. At the same time, step up trade promotion, expand and diversify markets, improve product quality, and participate more deeply and widely in regional and global supply chains,” Mr. Thang added.

Despite the difficult economic situation, Bac Ninh's economic picture still has some bright spots. Specifically, the average income per capita is estimated at 70 million VND (exceeding the plan by 0.7%); total investment capital implemented in the area is estimated at 65.7 trillion VND (exceeding the plan by 9.5%); new FDI capital attracted to industrial parks is 1.4 billion USD (exceeding the plan by 16.7%)...

Regarding trade activities in 2024, Bac Ninh sets a target of import-export turnover of 75.83 million USD, an increase of 3% compared to the estimated implementation in 2023. Of which, export reaches 41.552 million USD, an increase of 3%; import reaches 34.278 million USD, an increase of 3%.