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OVERVIEW ON SOCIO-ECONOMIC SITUATION

IN BINH DINH PROVINCE IN 2023

In 2023, although facing many difficulties and challenges, the Provincial
Party Committee and People's Committee paid much attention to leading,
directing, and administering the socio-economic development tasks according
to the Resolution No. 01/NQ-CP dated January 6, 2023 of the Government and
Resolution No. 56/NQ-HDND dated December 10, 2022 of the Provincial
People's Council; Along with the efforts of all levels, sectors, business
communities and people in the province, the socio-economic situation in 2023
continued to maintain growth and development and achieved impressive, quite
comprehensive results in almost fields.
Of the 19 main targets on the 2023 socio-economic development plan, Binh
Dinh province achieved and exceeded 17 targets. Of which, the gross regional
domestic product (GRDP) increased by 7.61%, exceeding the plan assigned by
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the Provincial People's Council (7.0-7.5%) and ranked the 17 per 63 localities
nationwide, and the 6th per 14 localities in the North Central and Central coastal
areas and the 1st per 5 localities in the Central key economic region.

The economic growth rate recovered positively, the next quarter was
higher than the previous quarter (the growth rate in the first quarter, second
quarter, third quarter and fourth quarter increased by 5.61, 6.97%, 8.15%,
9.19% respectively). The GRDP in 2023 increased by 7.61% over the same
period last year and this was the second year of achieving high growth rate in
the period 2020-2023 (the GRDP in 2020, 2021, 2022 rose by 3.55%, 4.31%,
8.46%, respectively and average increase of 6.8% in the period 2021-2023).

The scale of GRDP at current prices in 2023 was estimated to reach
117,668.8 billion VND. Of which, the agriculture, forestry and fishery sector
was estimated at 31,040.8 billion VND, accounting for 26.38%; The industry
and construction sector was at 35,763.5 billion VND, making up 30.39% (of
which, the industry was estimated to reach 24,336.1 billion VND, accounting
for 20.68%); The service sector was estimated at 45,767.4 billion VND, making
up 38.9%; The product taxes less subsidies on production was estimated at
5,097.1 billion VND, accounting for 4.33%.

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