Ha Tinh posts Q1 growth of 4.08%

North-central Ha Tinh province posted economic growth of 4.08 per cent in the first quarter of 2023, according to local authorities.

Growth in the service sector was 6.04 per cent, industry and construction 3.84 per cent, and agriculture, forestry, and fishery 1.97 per cent.

Investment and construction activities witnessed many positive signs, with total social development investment of more than VND9.86 trillion ($412 million), a year-on-year increase of 46.08 per cent.

The province also witnessed robust trading activities with increasing consumption of products and services. Total retail sales of products and services in the first quarter reached over VND14.2 trillion ($594 million), up 23.84 per cent year-on-year. Revenue from accommodation, food, and travel hit nearly VND1.6 trillion ($67 million), a year-on-year rise of 31.61 per cent.

However, Ha Tinh facing many difficulties in public investment disbursement and obstacles relating to investment procedures, site clearance, and project progress. The province disbursed only VND750 billion ($31.3 million) in the first quarter, or 9.3 per cent of the total allocated.