The northern port city of Hai Phong has reported year-to-date budget collections of over VND100 trillion ($4.1 billion), exceeding the target by 118.4 per cent.

The figure ranks it third in the country, following Hanoi and Ho Chi Minh City.

The city has posted gross regional domestic product (GRDP) growth estimated at 12.32 per cent for the year so far, or around 1.5-times higher than the national average, making it one of Vietnam’s leading localities in economic growth.

Of the collections, export and import activities contributed VND66 trillion ($2.66 billion).

The total volume of goods passing through the city’s seaports reached 168 million tons, meeting the target.

Hai Phong also posted growth in other economic indicators, including 14.5 per cent growth in its Index of Industrial Production (IIP) and $29 billion in export turnover.

The city’s business environment continues to greatly improve, ranking second for the first time in the Provincial Competitiveness Index (PCI) in 2021.

It also placed first in the 2021 Public Administration Reform Index, which was released in May.