Nghe An sees positive signs in economic recovery.

Central Nghe An province earned over VND1.42 trillion ($55.7 million) from tourism activities in May, according to the latest report on the province’s socio-economic development from the provincial People’s Committee.

The province welcomed more than one million tourists in the month, as of May 20,  including 8,500 foreign visitors.

Meanwhile, its Index of Industrial Production (IIP) was estimated to surge by 13.15% year-on-year. Some industrial products significantly increased year-on-year in terms of volume, such as fresh milk by 7.31%, canned beer by 26.38%, wood chips by 2.7-fold, cement by 9.44%, and electricity by over 12 %.

Total revenue of retail sales of consumer goods and services in the same month reached over VND10.8 trillion ($424 million), up 12.79% year-on-year. The figure brings the total value in the first five months of the year to over VND63 trillion ($2.56 billion), a year-on-year rise of 37.12%.

The province posted an export turnover of $238 million in May.

Nghe An authorities granted investment licenses for six projects this month with a combined investment capital of VND192 billion ($7.54 million).

As of May 22, there were 146 newly-established enterprises, up 23.7% year-on-year. Total registered capital is estimated at nearly VND810 billion ($31.8 million).

This brings the total number of newly-established firms in the province to 862 in the first five months of 2024, with a combined registered capital of over VND13.8 trillion ($542 million), a 6.2% increase in volume and 2.45-fold surge in value compared to the same period last year.