Hai Phong makes efforts to meet third-quarter growth target

Six of seven economic targets exceed projections

According to a report presented by the Hai Phong People’s Committee at its regular August 2026 meeting, key industrial production, trade, services, exports, tourism and investment attraction in industrial parks and economic zones continued to post positive results. The goods market remained stable, while supplies of essential goods and electricity for production and daily life were ensured.

In the first eight months of the year, six of seven economic targets are expected to exceed their growth projections including State budget revenue collection, export turnover, cargo throughput the ports, tourist arrivals, foreign investment attraction, the number of newly registered enterprises.

In industrial production, the Index of Industrial Production (IIP) in August is estimated to have increased by 14.02 percent year on year. In the first eight months, the index is estimated to have risen by 15.22 percent, compared with 14.8 percent in the first six months. Thus, the IIP growth rate increased by more than 0.4 percentage points over the subsequent two months.

Notably, the electronics, computers and motor vehicle manufacturing sectors, which make major contributions to the city’s GRDP, each grew by more than 20 percent. Of more than 400 industrial manufacturing enterprises, approximately 38 percent recorded growth of over 20 percent; this group accounts for about 40 percent of total industrial production.

Service sectors, including wholesale and retail, transport and warehousing, accommodation, and food and beverage services, all grew in August compared with July and on a cumulative basis, making a positive contribution to the city’s overall growth.

Promoting production and public investment disbursement

Under the adjusted growth scenario, GRDP must grow by 14.49 percent in the second half of 2026 to achieve the annual target, while third-quarter growth is expected to reach 14.8 percent. Of this, industry and construction are projected to grow by 17.41 percent, services by 12.12 percent, agriculture, forestry and fisheries by 2.54 percent, and taxes on products less subsidies on products by 13.18 percent.

To achieve the growth targets for the third quarter and the first nine months of 2026, thereby creating a foundation for meeting the full-year target, the city People’s Committee has requested that departments, sectors, agencies and localities continue to thoroughly implement tasks and solutions set out in Resolution No. 11-NQ/TU dated July 15, 2026, issued by the city’s Party Committee, Plan No. 294/KH-UBND dated July 31, 2026, and their assigned targets and plans.

The city has asked relevant agencies to regularly monitor and evaluate socio-economic targets on a monthly and quarterly basis, and promptly propose solutions for targets and tasks that are progressing slowly. The priorities are to promote industrial production, trade, services, import and export activities, and investment attraction; ensure a balance between the supply and demand of goods, energy and raw materials; intensify trade and export promotion and market connections; and support enterprises in responding to market fluctuations and logistics costs.

At the same time, the city will continue accelerating the public investment disbursement, site clearance and construction of key projects. It has requested stronger inspection and supervision, as well as the establishment of concrete schedules for key projects. These measures are expected to generate additional workloads for the construction sector and increase total social investment.

The city will also focus on resolving difficulties, obstacles and longstanding issues affecting projects, while effectively managing surplus offices following the restructuring of administrative units in order to mobilize additional resources for development.

Removing bottlenecks, accelerating production, speeding up public investment disbursement and advancing key projects during the remainder of the third quarter will provide an important foundation for Hai Phong to achieve its growth target and successfully implement the 2026 plan.

Hai Phong News