Important driving force for growth

In 2025, Thai Nguyen province aims to achieve GRDP growth of 8.5%. This is a high growth rate, given the province has just merged administrative boundaries, expanded scale and development space. To realize this goal, the business sector, especially in the industrial, processing and service sectors, plays a key role through technical improvement, innovation and productivity improvement.

A corner of Yen Binh Industrial Park - a place that attracts many large domestic and foreign investors. Photo: LK

Enterprises play a central role

According to the growth scenario developed by the Thai Nguyen Provincial People's Committee, for the whole year's GRDP to reach 8.5%, the growth rate in the last 6 months of the year must reach 10.3%, of which the third quarter is 10.2% and the fourth quarter is 10.4%. The main pillars are still industry - construction (up 8.1%) and the service sector, product tax minus subsidies (up 10.8%).

To realize this goal, the province plans to mobilize about VND84.4 trillion in total social investment capital, of which the non-state enterprise sector and foreign direct investment (FDI) account for the largest proportion, at 28.6% and 32.5%, respectively. These figures continue to affirm the central role of the private production and investment sector in promoting growth.

Employees of Nui Phao Mineral Exploitation and Processing Company Limited discuss technical solutions to improve the operational efficiency of the export ore processing line.

As a leading enterprise in the mining sector in Thai Nguyen , Nui Phao Mineral Exploitation and Processing Company Limited recorded impressive growth in the first half of 2025. The unit's revenue increased by 20%, while profits from core production and business activities (excluding interest, taxes and depreciation) increased by about 40% compared to the same period last year. In particular, the profit margin on revenue reached an average of 32%, one of the highest figures in the mining industry.

"We focus on innovation at every level of the organization to promote sustainable development" - Mr. Ashley McAleese, General Director of Nui Phao Mining Company Limited.

In addition to favorable market factors such as rising tungsten and fluorspar prices, the positive results are also evidence of the company's proactive innovation in operations, cost reduction and efficiency improvement. The company is planning to install a biomass boiler system to replace the coal boiler, aiming to reduce greenhouse gas emissions.

In parallel, waste from the production process is also used as raw materials to produce sand and construction stone, supplying the Thai Nguyen market and the expanded Hanoi area in the coming time.

Taking advantage of new space, accelerating after merger

In the textile and garment sector (an industry that employs a lot of labor and contributes greatly to export turnover), TNG Investment and Trading Joint Stock Company recorded a revenue of more than VND 4,000 billion in the first 6 months of 2025, an increase of 15% over the same period and completing more than 50% of the annual plan. The company has signed orders until the end of 2025 and part of 2026, demonstrating its ability to maintain long-term and stable growth.

In the first 6 months of this year, TNG Investment and Trading Joint Stock Company achieved revenue of more than 4,000 billion VND.

Mr. Nguyen Van Thoi, Chairman of the Board of Directors of TNG, shared: We maintain the core business principle of focusing on traditional customers, applying technology and gradually converting to a green factory model. Therefore, the enterprise always maintains an abundant source of orders. The mindset of stable production, long-term customer engagement, combined with the orientation of sustainable development is the key to help TNG maintain its growth momentum in the context of many textile and garment enterprises still in the process of recovery.

TDT Investment and Development Joint Stock Company also recorded positive growth results in the first 6 months of 2025, with revenue reaching about 285 billion VND, an increase of nearly 35% over the same period last year. In order to meet the increased production demand, the company has recruited hundreds of additional workers, bringing the total number of officers and employees to more than 2,600 people, with an average income of approximately 10 million VND/person/month.

Mr. Nguyen Viet Thang, General Director of TDT: We consider customers as partners in a responsible supply chain. TDT is expanding to European and Korean markets to compensate for difficulties in the US market which is being affected by trade barriers...

Production area of Mani Hanoi Company Limited.

One of the representatives of FDI enterprises in Thai Nguyen province, Mani Hanoi Co., Ltd., specializing in manufacturing medical equipment, has proactively anticipated the recovery trend by expanding its factory in 2025. The company aims to increase output by 10%, corresponding to a revenue increase of more than 5% compared to the previous year.

Mr. Kaoru Ogane, General Director of Mani Hanoi Co., Ltd.: Thai Nguyen is an ideal locality for long-term investment, with a favorable location, abundant human resources, especially open policies and effective support for businesses.

The plan to recruit 200 more workers from now until the end of the year to operate the new factory is a clear demonstration of this FDI enterprise's long-term expansion strategy and commitment to Thai Nguyen.

Sharing with reporters on the sidelines of a meeting with the business community in Thai Nguyen province, Mr. Hoang Quang Phong, Vice President of the Vietnam Federation of Commerce and Industry (VCCI), assessed: The merger of Thai Nguyen and Bac Kan provinces creates new space for the development of Thai Nguyen province, while opening up many opportunities for the business community. This is considered a "new wind", creating conditions for businesses to strengthen connections, dialogue and cooperation for common development.

"The merger of Thai Nguyen and Bac Kan provinces creates a very positive space for the development of the new Thai Nguyen province and also creates many new opportunities for businesses" - Mr. Hoang Quang Phong, Vice President of the Vietnam Federation of Commerce and Industry (VCCI).

Expanding the area also means a larger domestic market and a more diverse production and consumption ecosystem. If Thai Nguyen enterprises take advantage of this trend, they are fully capable of improving their competitiveness, expanding their scale and contributing more positively to the local GRDP growth.

In fact, the GRDP growth target of 8.5% of Thai Nguyen province in 2025 will be difficult to achieve without the support of the business community. The positive results from the “locomotive” units have affirmed the central role of enterprises in promoting local economic development.

As businesses continue to innovate, improve productivity and expand their scale, Thai Nguyen will have more strong "arms" to realize growth expectations in the new development stage after the merger.

Source: https://baothainguyen.vn/kinh-te/202508/dong-luc-quan-trong-thuc-day-tang-truong-f79135e/