Central Quang Nam province’s gross regional domestic product (GRDP) is estimated to reach VND69.11 trillion ($2.9 billion) in 2022, up 11.2 per cent against a target of 7.5-8 per cent.

Presenting a report to a meeting of the Provincial People’s Council on December 7, Chairman of the Provincial People’s Committee Le Tri Thanh said the local economy posted value of over VND116 trillion (nearly $5 billion), an increase of 1.18-fold compared to 2019, before Covid-19.

Industry and construction continued to maintain strong growth momentum, rising 16.5 per cent against 2021, in which industrial production reported impressive growth of 19.7 per cent and processing and manufacturing 17.5 per cent.

The service sector has recovered well, with almost all services regaining their pre-pandemic growth rates. Total retail sales of goods and revenue from consumption services stood at VND61.68 trillion, up 14.8 per cent. The locality has also welcomed 4.74 million visitors.

Strong economic growth has boosted budget revenue and stabilized the financial situation. According to the Quang Nam Statistics Office, total State budget revenue was estimated at VND32.114 trillion (nearly $1.4 billion), equal to 135.6 per cent of the estimate and up 40.1 per cent over 2021.