Important driving force for growth

In 2025, Thai Nguyen province aims for GRDP growth of 8.5%. This is a high growth rate, in the context of the province having just merged administrative boundaries, expanding 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 view of Yen Binh Industrial Park - a place that attracts many large domestic and foreign investors. Photo: LK

Businesses 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 approximately 84.4 trillion VND in total social investment capital, with the non-state enterprise sector and foreign direct investment (FDI) accounting for the largest proportions, at 28.6% and 32.5% respectively. These figures further affirm the central role of the private 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 mining company in Thai Nguyen , Nui Phao Mining and Processing Company Limited recorded impressive growth in the first half of 2025. The company's revenue increased by 20%, while profit from core business operations (excluding interest, taxes, and depreciation) increased by approximately 40% compared to the same period last year. Notably, the profit margin on revenue averaged 32%, among the highest 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 Mineral Exploitation and Processing Company Limited.

Besides favorable market factors such as rising tungsten and fluorite prices, the positive results also demonstrate the company's proactive approach to operational innovation, cost reduction, and efficiency improvement. The company is planning to install a biomass-fired boiler system to replace its coal-fired boilers, 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.

Leverage new opportunities and accelerate growth after the merger.

In the textile and garment sector (a labor-intensive industry that contributes significantly to export revenue), TNG Investment and Trading Joint Stock Company recorded revenue of over VND 4,000 billion in the first six months of 2025, a 15% increase compared to the same period and exceeding 50% of its annual plan. The company has signed orders until the end of 2025 and part of 2026, demonstrating its ability to sustain long-term and stable growth.

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

Mr. Nguyen Van Thoi, Chairman of the Board of Directors of TNG, shared: "We maintain our core business principle of focusing on traditional customers, applying technology, and gradually transforming into a green factory model. Therefore, the company has always maintained a plentiful supply of orders. A stable production mindset, long-term customer relationships, combined with a sustainable development orientation, is the key to TNG maintaining its growth momentum amidst the ongoing recovery of many textile and garment businesses."

TDT Investment and Development Joint Stock Company also recorded positive growth results in the first six months of 2025, with revenue reaching approximately 285 billion VND, an increase of nearly 35% compared to the same period last year. To meet the increasing production demand, the company has recruited hundreds of additional workers, bringing the total number of staff and employees to over 2,600, with an average income of approximately 10 million VND per person per month.

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

The production area of ​​Mani Hanoi Co., Ltd.

One of the leading FDI enterprises in Thai Nguyen province, Mani Hanoi Co., Ltd., specializing in the production of medical equipment, has proactively embraced the recovery trend by expanding its factory in 2025. The company aims to increase production by 10%, corresponding to a revenue increase of over 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.

Speaking to reporters on the sidelines of a meeting with the business community in Thai Nguyen province, Mr. Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), assessed: The merger of Thai Nguyen and Bac Kan provinces creates new room for the development of the expanded Thai Nguyen province, while also opening up many opportunities for the business community. This is considered a "breath of fresh air," 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 geographical area also means a larger domestic market and a more diverse production-consumption ecosystem. If businesses in Thai Nguyen take advantage of this trend, they have the potential to enhance their competitiveness, expand their scale, and contribute more positively to the local GRDP growth.

In reality, the target of 8.5% GRDP growth for Thai Nguyen province in 2025 will be difficult to achieve without the support of the business community. The positive results from leading enterprises have affirmed the central role of businesses 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-important-thuc-day-tang-truong-f79135e/