Impressive revenue results
In the first two quarters of 2025, Hai Phong City's consolidated budget revenue reached more than VND 96,800 billion. Contributing to this impressive figure, Hai Phong City (old) collected about VND 77,319 billion, an increase of 27.1% over the same period last year. Of which, revenue from import and export activities reached more than VND 38,000 billion and domestic revenue was estimated at more than VND 38,647 billion, an increase of 29.4%. Notably, Hai Duong province - a new 'piece' of Hai Phong City also showed remarkable growth with total budget revenue estimated at over VND 19,500 billion, an increase of 35% over the same period in 2024. Notably, domestic revenue in Hai Duong reached VND 17,313 billion, an increase of 38%, showing that the economic strength of Hai Duong province has been strongly promoted.
These figures are clear evidence that the economies of both Hai Phong (old) and Hai Duong province maintained high growth momentum before the merger. While the national economic growth in the first 6 months of the year is estimated to increase by over 7%, Hai Phong City (old) recorded an estimated economic growth (GRDP) increase of 11.2%, the industrial production index (IIP) is estimated to increase by 15.2%, and total social investment capital reached nearly 108,000 billion VND, an increase of over 18%. Export turnover reached 17.6 billion USD and the number of tourists reached over 5.2 million. Similarly, Hai Duong province's GRDP is estimated to increase by 11.46%, with even growth in the agriculture, forestry and fishery, industry and construction, and services sectors. The economic growth rate of both localities exceeded the national average, creating a 'particularly favorable starting point' for Hai Phong City after the merger.
It can be seen that, in the context of the global economy still having many fluctuations, Hai Phong City after the merger achieved the above budget revenue in the first 6 months of 2025, which is a proud achievement, demonstrating the remarkable efforts of both localities. Revenues from foreign-invested enterprises, non-state economic sectors and personal income tax all reached high levels, proving that the investment and business environment in both localities is very favorable.
Premise for breakthrough in the last 6 months of the year
With a solid foundation from the first two quarters of the year, the outlook for budget revenue and economic development of Hai Phong City in the last 6 months of 2025 is very optimistic. The merger of the two localities not only expands the development space but also creates new opportunities to optimize resources and promote the advantages of each locality.
In 2024, the economy of Hai Phong City (old) will be the leading one in the Red River Delta with a growth rate of more than 11%, while Hai Duong province will be in third place with a growth rate of 10.2%. In the first 6 months of 2025, Hai Duong province will achieve a growth rate of 11.46%, ranking second in the country, while Hai Phong City (old) will achieve a growth rate of 11.2%, ranking third in the country.
Over the past 10 years, Hai Phong City (old) has continuously maintained a double-digit economic growth rate. The proportion of industry, construction and services accounts for nearly 80% of the economic structure. The investment rate of projects in Hai Phong City (old) has reached 12 million USD/project, 3 times higher than the national average. Meanwhile, Hai Duong province, with 30 years of experience in attracting FDI and synchronous, modern industrial parks, will continue to be a "promised land" for investors, contributing to promoting the industrial development of the entire city.
According to the 2021-2030 planning period, with a vision to 2050 approved by the Prime Minister for Hai Duong and Hai Phong City (old), by 2030, Hai Phong City (old) will be a large seaport city, a modern logistics service center, a leading international maritime economic center in Southeast Asia. Hai Phong City (old) will lead the country in industrialization, modernization and digital transformation, becoming the driving force for development of the Northern region and the whole country. Hai Duong will be a modern industrial province, with a large economic scale in the country, synchronous infrastructure, a green, smart urban system, rich in identity... Thus, Hai Phong City currently has full potential to continue to maintain and even increase the double-digit economic growth rate.
Speaking at an event after the merger of Hai Duong with Hai Phong City, comrade Le Tien Chau, member of the Party Central Committee, Secretary of the City Party Committee, Head of the National Assembly Delegation of Hai Phong City affirmed that the two-level local government will be the driving force for Hai Phong to accelerate and realize the goal of becoming a growth pole of the Northern economic region and the whole country.
The Secretary of the City Party Committee emphasized that Hai Phong City, with 114 commune-level administrative units, has begun a new page in history with a new position, stature and aspirations for development. The road ahead will have many difficulties and challenges, but it is also an opportunity to realize the aspiration of a Hai Phong City developing on par with typical Asian cities, becoming a modern international seaport city, leading the country in the cause of industrialization and modernization.
Hai Phong City is continuing to focus on completing the draft documents on piloting a number of specific mechanisms and policies for the city's development, implementing the Master Plan for the construction of the Southern Hai Phong Coastal Economic Zone, speeding up the progress of the social housing development project and key transport projects. These moves will create a more attractive investment environment, attracting more large projects, especially in the fields of industry, logistics and marine services.
PV (synthesis)Source: https://baohaiphongplus.vn/khoi-dau-an-tuong-voi-ngan-sach-vuot-troi-cua-tp-hai-phong-415591.html
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