Businesses accelerate
The assessment report of the General Statistics Office shows that in the last months of the year, although the world and regional markets had many fluctuations, production and business of enterprises in the province still grew quite impressively.
Specifically, the industrial production index of the whole province in October increased by 4.41% compared to September, the production value reached 250,857 billion VND, up 18.4% over the same period last year; accumulated in 10 months, the industrial production value of the whole province reached more than 1,989 million billion VND, up 13.64% over the same period in 2024.
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GO Bac Giang Supermarket prepares goods to serve year-end shopping needs. |
According to Mr. Ngo Van Tue, Deputy Director of the General Statistics Office, the growth rate of the industrial sector is forecast to increase in the coming time, because this is the "golden time" to welcome the year-end consumption wave, so businesses are accelerating production, making efforts to complete the plan set for 2025.
Large corporations producing electronic components and semiconductors such as Samsung, Canon, Foxconn, Goertek, Luxshare, Amkor... continue to boost production, expand factories, increase output to consolidate their position in the global supply chain, also contributing greatly to the industrial production value of the province.
Along with that, Bac Ninh has attracted a large amount of FDI capital (attracting more than 16.2 billion USD in 10 months). This capital has been and is being disbursed by investors into the economy , creating a positive driving force to promote the province's growth not only at the end of 2025, but also spreading in the coming period.
Mr. Na Ki Hong, General Director of Samsung Vietnam, shared that in the fourth quarter, the rapid growth of the global artificial intelligence (AI) industry has opened up many opportunities for the production of electronic devices of Samsung Group, including 3 large factories operating in Bac Ninh. Therefore, the Company determined that this is an important time to focus on producing products optimized for AI applications such as new smartphones and high-end smartphones to increase revenue and export turnover.
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Nichirin Vietnam Co., Ltd. (Quang Chau Industrial Park) promotes production at the end of the year. |
Like Samsung's factories in Bac Ninh, in the last months of 2025, the production line of brake lines for motorbikes and cars of Nichirin Vietnam Co., Ltd. (Quang Chau Industrial Park) also operated at full capacity, striving to complete export orders to markets in the US, India, and Thailand. Currently, more than 350 workers of the company are divided into shifts working 24/24 hours.
Mr. Ida Shinichi, General Director of the Company, said that in order to complete the 2025 target of revenue reaching 1,170 billion VND; export value of more than 570.3 billion VND; tax payment of nearly 84 billion VND, the Company has focused all resources to promote production growth. In addition, the Company promotes the use of components and machinery manufactured by Vietnamese enterprises, helping to both save costs and support local enterprises to increase added value.
Increase revenue by at least 25% compared to the estimate
According to the report of the Department of Finance, the total state budget revenue in the province in the first 10 months reached 62,302 billion VND, equal to 110% of the year's estimate. Of which, domestic revenue reached 51,067 billion VND, equal to 111% of the estimate; import and export tax revenue reached 10,857 billion VND, equal to 99% of the estimate; land use fee revenue alone reached 16,266 billion VND, equal to 175% of the estimate. Of the 17 tax and fee revenue items, 13 items increased compared to the same period in 2024, such as land use fee revenue increased by 70.1% compared to the estimate and increased by 2.5 times compared to the same period; revenue from taxes and fees is estimated to increase by 11.7% compared to the same period...
The above results show that the State budget revenue has exceeded the 2025 estimate by 10%, but the spirit of the province is to continue to strive to increase revenue by at least 25% compared to the target assigned by the Government. To achieve this target requires great efforts from the entire political system. Accordingly, the province directed all levels, sectors and localities to strengthen financial and budgetary discipline, improve revenue management efficiency, and ensure focused and key revenue. At the same time, resolutely cut unnecessary regular expenditures, and reserve resources for development investment and social security. The provincial leaders also requested the provincial Tax Department to strengthen revenue sources, focus on implementing measures to maximize revenue according to regulations, and avoid revenue losses, especially taxes, fees, and land use fees.
Mr. Pham Hong Ha, Head of Tax Department 7 (Bac Ninh Province Tax) said that, based on the direction of the province, the unit is focusing on guiding households and individuals to seriously declare and proactively fulfill their tax obligations. At the same time, guiding subjects subject to applying electronic invoices generated from cash registers according to Decree No. 70/2025/ND-CP of the Government to register and apply in practice.
"The 7th Tax Department is managing tax work in 5 wards: Kinh Bac, Vo Cuong, Vu Ninh, Hap Linh and Nam Son with nearly 12,000 business households. The budget revenue of business households in 2025 will reach about more than 190 billion VND. Although this number accounts for a small proportion of the total budget revenue in the province, it also contributes positively to the socio-economic development in the above 5 wards," Mr. Ha added.
Stimulating year-end consumption growth
Along with promoting the advantages of the industrial production sector and state budget collection, all levels, sectors and localities in the province also focus on implementing many measures to optimize the efficiency of the "consumption season" at the end of the year to create more momentum for economic growth. According to the leaders of the Department of Industry and Trade, on this occasion, the Department focuses on promoting activities to stimulate consumption, linking trade development with the role of market regulation, ensuring consumer rights; supporting small and medium enterprises to participate in modern retail chains. At the same time, strictly handle acts of commercial fraud, trading in counterfeit and poor quality goods and strengthen a healthy business environment...
Thanks to that, purchasing power in the last months of the year in the province has clearly recovered. Total retail sales of goods and revenue from services in October reached 16,503 billion VND, up 11.8% over the same period. Of which, monthly retail sales of goods are estimated at 11,558.8 billion VND, up 7.3% over the same month last year.
Bac Giang LGG Garment Corporation (headquartered in Bac Giang ward) specializes in processing garment products for export to Japan, the US and some EU countries. In addition to completing export orders, to increase revenue and meet consumer demand at the end of the year, the Company has deployed the production of garment products for the domestic market. Ms. Nguyen Thi Minh Hai, Head of the Company's Sustainable Development Department, said: "LGG is stimulating consumption right from the needs of workers with preferential policies of buy 1 get 1 free, or combo discounts. Along with that, the Company brings products to digital platforms to reach the domestic market in a wide way and bring interesting experiences to consumers, especially young people."
The remaining time of 2025 is very short, to complete the economic growth target of 11.5% to create development momentum in the coming period, Comrade Mai Son, Standing Vice Chairman of the Provincial People's Committee, requested all levels, sectors, localities and enterprises to continue to identify the disbursement of public investment capital as an important task. He requested the Department of Finance to strengthen supervision, control, actively advise, propose solutions to remove obstacles and guide the implementation of procedures for disbursement and settlement of public investment capital for investors, agencies and units, but in the spirit of not "abusing" the shortened procedures and processes. The whole province is determined to strive to complete the disbursement of public investment capital according to the plan assigned by the Government. Thereby, it is possible to select large-scale, meaningful projects and works that are qualified to start construction and inaugurate on December 19, 2025 to celebrate the 14th National Party Congress.
Source: https://baobacninhtv.vn/bac-ninh-chang-nuoc-rut-no-luc-hoan-thanh-muc-tieu-tang-truong-kinh-te-postid432115.bbg
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