Bac Ninh Continuously Leads Vietnam in Exports

Bac Ninh province has demonstrated remarkable economic vitality, consistently ranking first nationwide in import-export turnover since August. The total state budget revenue over the first ten months of the year reached over 62 trillion VND, equivalent to 110% of the annual plan, highlighting the province's impressive economic performance.

According to the Bac Ninh Provincial People's Committee, industrial production remains the primary driving force of the local economy. In the first ten months of the year, the Industrial Production Index (IPI) increased by over 16% year-on-year, with the total value of industrial production reaching 1.99 quadrillion VND, a 13% increase compared to the same period. The provincial government noted that maintaining production stability, particularly by ensuring the safety of industrial zones during and after floods, has been critical in contributing to the province's positive socio-economic results.

Since August, Bac Ninh province has led the country in import-export turnover

Surging Exports and Trade Leadership

For the first ten months of the year, the total import-export turnover reached nearly 150 billion USD. Specifically:

• Exports: Exceeded 77 billion USD, representing a 32% increase.
• Imports: Reached over 72 billion USD, marking a 38% increase compared to the previous year.

Key industrial products saw a massive surge in October compared to the same period last year, including: computer parts (up more than 7 times), peripheral equipment (up over 3 times), laptops/iPads (up over 2 times), and smartphones (up over 2 times).

Strong Budget Collection and Investment Attraction

Total state budget revenue in the first 10 months of the year reached over 62.3 trillion VND, surpassing the annual estimate by 110%. Domestic revenue was particularly strong, exceeding 51 trillion VND, reaching 111% of the estimate.

The province has also attracted substantial investment, securing over 16 billion USD in total. This included:

• Domestic Investment: 180 new projects with registered capital of over 270.1 trillion VND, and 149 adjusted projects with an additional 11.4 trillion VND.
• Foreign Direct Investment (FDI): 312 newly licensed projects with over 1.6 billion USD, and 222 adjusted projects with total additional capital exceeding 3.4 billion USD.

Ambitious Targets for Year-End

Mr. Vuong Quoc Tuan, Chairman of the Bac Ninh Provincial People's Committee, stated that the province has set an ambitious goal of 11.5% economic growth for the entire year, requiring a Q4 growth rate of 12.8%.

To achieve this, the province is prioritizing solutions related to industrial and service development. Q4 is a crucial period for businesses, especially in manufacturing and trade due to year-end consumption, and the province is focused on supporting enterprises with labor recruitment.

Regarding budget collection, with a target of 71 trillion VND assigned by the Government for 2025, the province must collect approximately 9 trillion VND in Q4. Tax authorities are directed to maximize all revenue sources, prevent losses (particularly in taxes, fees, and land revenue), while simultaneously nurturing revenue by offering tax reductions for businesses and citizens.