5 localities achieve breakthrough growth in Q1/2025

In the first quarter of 2025, Vietnam's GDP recorded a growth rate of 6.93%. Among the 43 localities that exceeded the national average growth rate, Bac Giang, Hoa Binh, Nam Dinh, Da Nang, and Lai Chau ranked first.

According to information from the General Statistics Office - Ministry of Finance , the Vietnamese economy in the first quarter of 2025 was basically stable, inflation was controlled, growth was promoted, and the major balances of the economy were ensured.

Gross Domestic Product (GDP) in the first quarter increased by 6.93% compared to the same period last year, the highest first-quarter growth rate since 2020. Among the 43 localities with growth rates higher than the national average, the top 5 were Bac Giang (13.82%), Hoa Binh (12.76%), Nam Dinh (11.86%), Da Nang (11.36%), and Lai Chau (11.32%).

The 5 localities with the highest growth rate of gross regional product in the first quarter of 2025 nationwide (%). (Photo: General Statistics Office)

Bac Giang province led the country in economic growth in the first quarter of 2025. The industrial sector was the main driving force contributing to the province's economic growth.

Bac Giang's industrial production index increased by 26.58% due to several new companies that started production in August 2024 and are now operating stably. Revenue in the first quarter of 2025 is expected to be 2.5-3 times higher than the same period last year, and the province's investment attraction and business development activities have yielded positive results. By March 31, 2025, Bac Giang had attracted approximately US$641.2 million in investment capital, an increase of 2.7% compared to the same period last year.

Hoa Binh ranked second nationwide in terms of growth rate with an increase of 12.76%, of which total investment increased by 59.52% (many transportation projects in the province are under construction simultaneously, such as: Hoa Binh - Moc Chau Expressway; Hoa Binh - Hanoi regional connecting road and Son La Expressway; road connecting the North Tran Hung Dao area to National Highway 6; and several foreign investment projects are being urgently completed to be put into production from the second quarter).

Nam Dinh ranked 3rd nationwide and 1st in the Red River Delta region with an economic growth rate of 11.86%. Industrial production developed steadily, with the processing and manufacturing sector showing improved performance compared to the same period last year. The industrial production index increased by 23.25% year-on-year (with significant contributions from the electronics, computer, and optical products industries), reaching its highest growth rate since 2019.

Da Nang ranks fourth in the country in terms of growth rate. The city's GRDP is estimated to increase by 11.36%, ranking first in the North Central and Central Coastal regions. Tourism is a bright spot in Da Nang's service sector. The strong development of the tourism market has become a crucial driving force for the synchronized growth of the travel and tourism service sector, contributing to improving quality and expanding the industry's influence. Revenue from travel and tourism services in the first quarter of 2025 is estimated at VND 838.6 billion, accounting for 2.2% of total retail sales of goods and consumer services in the city, a 20% increase compared to the same period last year...

A view of Lai Chau city. (Photo: Northwest Calling)

Lai Chau achieved a growth rate of 11.32%, ranking 5th nationwide. From the beginning of the year, the province focused on promoting the development of several key sectors, such as developing agriculture towards concentrated commodity production, developing key crops with high economic value, completing and developing Lai Chau ginseng in the province during the 2024-2030 period, strengthening support for connecting supply and demand for goods, and expanding export markets... As a result, the agriculture, forestry, and fisheries sector increased by 3.77% compared to the same period last year, contributing 0.34 percentage points to the overall growth rate of the province.

The General Statistics Office assesses that the localities leading the country in GDP growth in the first quarter of 2025 are models of development, core elements of regional linkages, and pillars for promoting national GDP growth, striving to achieve the 8% growth target in 2025 and double-digit growth in the new era.

Source: https://thoidai.com.vn/5-dia-phuong-but-pha-tang-truong-quy-i2025-212661.html