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Haiphong economy

Mon, 28 Jul 2014. Last updated Wed, 17 Sep 2014 17:42

Haiphong is one of the big cities and economic centers of Red River Delta. With the favorable geographic location, Haiphong economy has potentials to develop. The province also owns one of the biggest ports in Vietnam.

Haiphong is one of the centers of Red River Delta economy in particular and Vietnam in general. From 2005 to now, Haiphong always in the top 5 of the provinces contributing to the most state budget after Ho Chi Minh City, Hanoi and Ba Ria Vung Tau.  Its GDP accounted for 11.8% of the Red river delta economy in 2007. In 2011, the state revenue reached VND 34.000 billion; the city’s revenue reached VND 47.725 billion, up 19% compared to 2010. In the ranking provincial competitiveness index of Vietnam in 2011, Haiphong city ranked No. 45/63 provinces.  

The economy in Haiphong constantly maintains the growth. In 2013, GDP of the city was estimated at 7.15%, of which the agriculture-forestry-fishery industry reached 4.04%, the industry and construction reached 5.79%, the service sector increased 8.61% over the same period. Although the GDP growth rate was lower than the previous years and the plan, this was the reasonable and remarkable growth level of the city in the difficult context of the world economy and the whole country. The economic structure of service – industry, construction –agriculture, forestry and fishery is 54.88% - 35.74% - 9.38% respectively.

Haiphong is the largest import and export hub of the North. So far, the city has the import and export relation with more than 40 countries and territories around the world. The International Exhibition Centre of Haiphong is the Vietnam’s largest fair center today. Haiphong is striving to become one of the largest commercial centers of Vietnam.

 

Industry

Haiphong Port - among the busiest ports in Vietnam

 

Haiphong is one of 5 cities having the largest industrial scale of the whole country.  One of the development goals of the city is to become “a modern and civilized industrial and tourist city”. The city has a network of industrial zones arranged logically with the large industrial zones such as: Nomura  - Dinh Vu, Do Son – Haiphong, Vinashin – Shinec and many small and medium-sized industrial clusters as Quan Toan, Dong Hai, Kien An – An Trang…

In 2010, the industrial output value increased by 2 times compared to 2005, ranking the second in the North and the sixth in the country. In 2013, the city’s industrial production index increased 4.275 over 2012, of which the mining industry reduced 36.41%, processing and manufacturing industries increased by 4.525%, the distribution of electricity, gas, hot water, air conditioning increased by 2,795, the water supply industry, environmental activities increased 5.04% over 2012. The key industries in Haiphong consist of food processing, light industries and heavy industries. Major products include fish sauce, beer, cigarettes, textiles, paper, plastic pipes, cement, iron, pharmaceuticals, electric fans, motorbikes, steel pipes, ships and out-sourcing software implementation.

In the past ten years (from 2000 to 2010), Haiphong average economic growth (GDP) reached  11.1% / year, 1.5 times the national average rate. In the most difficult times due to the impact of the world economic - financial crisis, the city was determined to achieve economic growth of more than 10%. Therefore, the city also focuses and mobilizes all resources to ensure the high, sustainable and continuous growth rate. 

The Haiphong economic structure has significant shifts. The proportion of GDP in the industry, construction and service increased 87% in 2005 to 90% in 2010. Many industries and products having the competitive advantage and significant contribution to the economic growth are facilitated to develop. With its position as the gateway to maritime routes of the northern economic sector, Haiphong focuses on developing the seaport.

On the other hand, Haiphong also focuses on development of high technology industries, reducing production costs and the consumption of energy and raw materials in the product. In addition, the city invests in the infrastructure development to accelerate the implementation of shifting economic structure.

 

Agriculture

A fruitful crop in Haiphong

 

 

Haiphong city has 52.300ha of land used for agriculture. The most important crop is rice, taking up around 80% of the agricultural land with the output of 463.100 tons in 2007 and in 2013 the rice output reached 490.171,8 tons, or about 100,03% over the last year. Other agricultural products are maize, sugar and peanuts. In 2013, the total area of crops reached 106.546.2ha, about 98.30% over 2012, reducing 1.833,9ha of which the area of annual crops was 99.480,3ha or about 98,14%, the area of perennial crops was 7.065,9ha, reaching 100.22% and about 10.65% over the last year.

In the group of annual crops, the area of grains reached 79.835,6ha, about 98.53%, the area of vegetables reached 13.376,3ha, about 92.33% compared to the last year. Among the perennial crops, the area of tropical and subtropical fruit tree accounted for 3.260,6ha, about 117.18% over the last year, the area of orange and other citrus fruits was 94.85%. The area of rice reached 78.250ha,

The agricultural production value in 2013 was estimated at VND 10206.71 billion, or by 96.86% of the plan and 102.46% over 2012, of which the value of the crops was estimated at VND 5135.38 billion, by 100.77% over 2012, the livestock production value reached VND 4777.83 billion, accounting for 94.64% of the plan and by 103.69% over 2012, the service worth was estimated at VND 293.5 billion, by 113.90% compared to 2012. In 2013, the forestry production value sector reached VND 39.15 billion, or about 96.69% over 2012.the fishery output value was 49.932,3 tons, about 104.34% over the last year.

Due to the geographical and economic location, Haiphong has many great companies of the Vietnam National Oil and Gas Group, Vietnam Shipbuilding Industry (Vinashin), Vietnam Maritime Corporation Vietnam (Vinalines) ... investing and developing the production and trading activities, contributing to the Haiphong economic growth and development with high speed.

 

Tourism

Lan Ha Bay - a famous toursit attraction in Haiphong

 

Haiphong is a major tourist center of Vietnam. As a large city near the sea, Haiphong is an important link in the economic triangle and tourism Haiphong - Ha Noi - Quang Ninh. In 2010, Haiphong welcomed 4.2 million visitors, including foreign tourists accounted for 596.400 arrivals. In the first 7 months of 2011, the city welcomed 2,516 visitors, international visitors accounted for 339.3 thousand. Total operating revenue of hotels, restaurants, services reached over VND 5.6 trillion, up 29.2% compared to the same period, of which the revenue from the stays and travel services reached VND 908.4 billion, increasing 15% and reaching 60.6% of the plan. In 2013, the total number of visitors to Haiphong reached 5.004,765 thousand arrivals, increasing 11.2% over the same period last year, of which the international visitors reached 580.986 thousand, increasing 2.27% over the same period.

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