Hai Phong economy stays on track to meet growth targets
Hai Phong’s economy showed positive momentum in the first two months of the year, with most socio-economic indicators recording encouraging results.
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Several economic indicators exceed targets
According to a report delivered by Nguyen Ngoc Tu, Director of the Hai Phong Department of Finance, at the February regular meeting of the Hai Phong People’s Committee, the implementation of socio-economic development tasks has remained broadly in line with the city’s growth targets.
Of the eight key indicators, six met or exceeded targets, including state budget revenue, export turnover, cargo throughput at ports, tourist arrivals, the number of newly established enterprises, and the proportion of workers participating in social insurance.
At the same time, several major projects and key works are being accelerated, helping stimulate investment, create jobs and reinforce growth momentum.
Overall in the first two months of the year, the city’s main growth drivers have largely stayed on track. The Index of Industrial Production (IIP) rose 14.81% from the same period in 2025, the highest growth recorded for the period since 2023. The manufacturing and processing sector continued to serve as the main engine of industrial growth.
Meanwhile, the services sector as well as agriculture, forestry and fisheries maintained stable expansion. Total retail sales of goods and service revenues increased by 14.76%, exceeding the planned target by about 2.264 trillion VND. Cargo throughput at ports was estimated at more than 27 million tons, up 10.54% year-on-year.
Investment promotion and attraction efforts have also been carried out in a coordinated manner, with a focus on high-quality projects.
These results highlight the recovery and acceleration of the city’s key economic drivers, while reflecting proactive and decisive governance by the municipal authorities in implementing the annual growth plan. Based on the results achieved in the first two months, local departments believe the city is on track to meet its first-quarter growth target.
Focus on removing bottlenecks
Under the city’s growth plan, industrial production value needs to rise by about 17.9% year-on-year in the first quarter to meet the target. Output from industrial parks and economic zones is expected to grow by 20%, while areas outside industrial parks are projected to expand by 13.1%.
Meanwhile, total retail sales of goods and service revenues are forecast to reach around 101.01 trillion VND.
At the meeting, Le Ngoc Chau, member of the Party Central Committee, Deputy Secretary of the municipal Party Committee and Chairman of the Hai Phong People’s Committee, said the city had set a high growth target for 2026 while the workload for the remainder of the first quarter and the year remained substantial.
He called on departments, agencies and local authorities to continue closely following the growth plan, remove bottlenecks in production and investment, and strengthen key growth drivers in order to achieve the first-quarter growth target of 12.5%.
Hai Phong News