Economy
The provincial GDP per capita is one of the lowest of Vietnam (around US$ 400, compared to Vietnam's average GDP per capita of US$ 700). Industries base on mainly construction material production (ciment, tiles, building rock, brick) thanks to its abundance in limestone and white clay deposits. The province has two industrial parks, one in Đồng Hới city and the other in Hon La bay. Sea food processing, bio-fertilizer and aluminum production are also important to this provincial economy. Over 80% of the population live on agricultural production. In recent years, tourism has been emerged as the significant contribution to Quảng Bình thanks to Phong Nha-Kẻ Bàng National Park and white fine sand beaches. Trade conducted with Laos through Cha Lo gate by National Road 12. In 2005, this province's export value is just 30 million US$ or 1% of Vietnam's export revenue. In 2006, the province contributed 608 billion VND (US$ 38 million) to the state budget (of the total US$15.68 billion) or 0.024% only
The province agriculture is comprehensively developed with the direction of production of commodities. Crops and cultivation calendar have been gradually arranged in a more appropriate manner. The food production has been continuously increased reaching 200,000 tons in 2000. The total area of industrial trees is 14,105ha, of which the area of rubber is 6,400 ha providing 2,000 tons of dried resin. Cattle and husbandry keep growing. The average agriculture growth rate is 5.7% during the period 1996-2000. In the recent years, forestry production in Quảng Bình Province has been changed in terms of structure from mainly exploiting to protecting, developing forest for forest resource conservation. The value of forestry and afforestration has increased 87.3%, in particular from 1996 to 2000 the growth rate was 65.3%. The annual forestation area is around 4,000 ha. Up to date 38,851 ha of forest has been planted.
The fishery sector has continuously developed and become a key economic sector of the province. At present the province has around 3,200 fishing boats with power of over 67,000CV. In the year 2000, the output of sea products is estimated at 17,104 tons, of which about 1,600 tons is from raising. The province has 3 shrimp nursery stations, 8 fish nursery stations supplying 5–7 mil. tiger baby shrimps, 40 - 45mil. baby fish and 4 - 5 mil. fingerlings annually. At present the province has 2 factories of processing frozen sea products and 4 factories of processing dried products for exportation. The services of fishing sector such as making and repairing ships, purchasing, processing sea products and providing technical assistance and infrastructure for fishing are continuously developed. However, the development of fishery sector in recent years has not met its expected potential. As of February 2008, the province licensed 59 investment projects with a total capitalization of USD $500,000,000. As of 2009, this province is home to two special economic zones with preferential investment and tax treatments, namely the Hòn La Economic Zone by the Hòn La seaport, and Cha Lo Border Gate Economic Zone in the border with Laos.
Read more about this topic: Quang Binh Province
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
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—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)