Northern Hai Duong province recorded economic growth of 8.35 per cent in the first quarter of 2023, ranking it ninth among Vietnam’s 63 cities and provinces and third in the Red River Delta, according to the province’s Statistics Office.

The growth was attributed to the development of some key industrial sectors such as the production of electronic spare parts, office equipment, automobiles, and electricity. Its Index of Industrial Production rose 12.3 per cent year-on-year in the past three months.

Though Vietnam’s industrial production was still affected by many factors, such as a shortage of orders, difficulties in gaining access to capital, high production costs, and disruptions to material supplies, Hai Duong still recorded growth due to its diversified industry structure without much dependence on exports.

Revenue from retail sales in the period reached over VND18.2 trillion ($761 million), up 17.3 per cent year-on-year.

The province attracted $69.1 million in FDI in the quarter.