HCMC – The Red River Delta region’s economy expanded by 7.21% in the first seven months of this year, surpassing the national average and ranking third among Vietnam’s six economic regions, according to the Ministry of Planning and Investment.
This growth rate is 1.3 times higher than that of the southeastern region, highlighting the Red River Delta’s critical role as a key economic driver for the country.
The figures were revealed during the fourth meeting of the Coordinating Council for the Red River Delta Region, held on August 17 in Hanoi.
The Ministry reported that the region contributed VND521 trillion to the state budget, the highest in the country, accounting for 41% of the national revenue. The region’s export value exceeded US$80 billion, representing 35% of Vietnam’s total exports.
Public investment disbursement in the region was estimated at nearly VND55.76 trillion, the highest in the country, reaching 31.8% of the planned allocation.
The region saw 29,600 new market entrants between January and July, up by 3.39% year-on-year, and 14,300 suspended businesses returning to the market, a 6.87% increase over the same period last year. The Red River Delta secured the second spot in the country for both new business registrations and the reactivation of dormant enterprises.
At the meeting, Prime Minister Pham Minh Chinh acknowledged the region’s contributions but noted that the Red River Delta’s economic growth has yet to reach its full potential.
He pointed out challenges such as limited technological innovation, insufficient regional connectivity, and a lack of large enterprises in key sectors like artificial intelligence and semiconductor manufacturing.
The prime minister called for stronger efforts to address these issues and ensure more sustainable growth in the region.
