Tay Ninh: GRDP growth rate ranked 19th/63 provinces and cities
Compared to the provinces and cities in the Southern key economic region, in 2024, Tay Ninh's growth rate ranked 2nd out of 8 provinces and cities, after Binh Phuoc province.
On January 3, the Tay Ninh Provincial Statistics Office held a ceremony to announce statistical data on the socio-economic situation in the province in 2024.
At the event, Mr. Nguyen Dinh Buu Quang - Director of the Tay Ninh Provincial Statistics Office said that in 2024, the province's Gross Regional Domestic Product (GRDP) will reach a growth rate of 8.45%. The added value (VA) of all economic sectors will increase and contribute positively to the overall growth.
Compared to other provinces and cities in the country in 2024, Tay Ninh has the 19th highest GRDP growth rate out of 63 provinces and cities. Compared to other provinces and cities in the Southern Key Economic Zone, Tay Ninh has the 2nd highest growth rate out of 8 provinces and cities, after Binh Phuoc province.
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| Mr. Nguyen Dinh Buu Quang - Director of Tay Ninh Provincial Statistics Office informed at the press conference. |
Mr. Quang added that in 2024, the industrial sector will continue to play a pivotal role, accounting for 51.91% of the province's GRDP growth. However, the growth rate of industrial added value reached 12.28%, not meeting expectations and lower than the period before the COVID-19 pandemic (increased by 17.10% in 2018, increased by 20.27% in 2019).
Production recovery mainly took place in the second half of the year, when many businesses received more orders, raising the growth rate from 11.67% in the first half of the year to 12.83% in the second half of the year.
The processing and manufacturing industry accounts for a large proportion, growing by 12.70%, in which the outstanding fields are: rubber and plastic product manufacturing, metal manufacturing, bed, wardrobe, table and chair manufacturing and textile industry...
According to the representative of the Tay Ninh Provincial Statistics Office, the total social development investment capital in 2024 reached VND 44,946 billion, an increase of 10.27% over the previous year. Of which, in the state sector, capital reached VND 6,371 billion, an increase of 6.42%, with the state budget accounting for the majority (VND 4,818 billion).
In the residential and private sectors, investment capital reached VND18,661 billion, up 12.07%, mainly thanks to projects to expand factories, build livestock farms and greenhouses to grow vegetables according to VietGAP standards.
The foreign-invested sector reached VND19,914 billion, up 9.88%, thanks to the expansion of large projects such as Brotex Fiber Factory (VND350 billion) and projects of Gain Lucky and Ilshin.
During the year, the province recorded 818 newly established enterprises, with a total registered capital of VND8,468 billion, an increase of 45.86% in capital compared to 2023. However, the number of enterprises decreased slightly by 1.92%, reflecting difficulties in starting a business.
Regarding foreign investment attraction, in 2024, the province attracted 525.95 million USD in foreign investment capital, down 28.05% over the same period last year. Specifically, there were 34 newly licensed projects with a total capital of 207.9 million USD, 22 projects with increased capital of 318.1 million USD, and 9 projects revoked/terminated.
Accumulated to December 2024, the province has 390 valid FDI projects, with a total capital of 9,969.7 million USD, of which 246 projects are operating with a capital of 7,932 million USD.
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