Delivering Local Growth "KPI": The Special Task of the "Economic Growth Star"

Bac Giang is known as Vietnam's new economic "star", having continuously maintained an impressive "performance" with a double-digit growth rate, leading the country from 2022 to present. Last year, the GRDP growth rate of this locality also reached 13.87%, nearly twice the national average and the 5th consecutive year of double-digit growth.

One of the main growth drivers of Bac Giang comes from the investment environment. Last year, the locality attracted over 2.14 billion USD in FDI capital, ranking 10th in the country.

Many large domestic and international enterprises have been investing billions of dollars in the "industrial capital of the North". Enterprises highly appreciate this locality for its contact and dialogue activities through many channels, promptly resolving difficulties and problems.

Thanks to strong investment in infrastructure and the determination of provincial leaders over the years, Bac Giang's economy has made spectacular changes, rising to become an important economic center of the country. Dan Tri reporter had an interview with Mr. Luong Van Nghiep, Deputy Director of the Department of Planning and Investment of Bac Giang province, about the locality's breakthrough solutions this year to achieve the highest growth target in the country.

The Government has just issued Resolution No. 25/NQ-CP (Resolution 25) assigning specific growth targets to 63 localities to strive to achieve the GDP growth target of 8% this year. Of which, Bac Giang is assigned a growth rate of 13.6% - the highest in the country. How do you evaluate the assigned growth rate?

- For the first time, the Government issued a resolution, specifically Resolution No. 25, assigning separate growth targets to 12 sectors, fields and 63 localities. This shows the Government's highest determination to strive for a national GDP growth of 8% or more in 2025, creating a solid foundation for achieving double-digit growth in the next period of 2026-2030.

All 63 localities were assigned growth targets at different levels, the lowest being 8%. Of which, Bac Giang was assigned the highest level in the country with a growth rate of 13.6%.

For Bac Giang, right from the beginning of the 2020-2025 term, the province has proactively set a high-scenario growth target of 14-15%. In 2025 alone, with many difficulties and challenges forecast, the locality continues to set a high-scenario growth target of 13.6%, which has been approved by the Provincial Party Committee and the Provincial People's Council in the Resolutions at the time of formulating the 2025 Socio-Economic Development Plan from the end of 2024.

The Provincial People's Committee has also assigned specific targets, tasks, and solutions. This is a challenging goal, but Bac Giang will strive to achieve a higher level than expected to continue to make breakthroughs and affirm its position as a leading locality in the country.

The new point of this Resolution is that the Government has assigned specific targets to each locality based on its existing strengths and potentials. In your opinion, what potentials and strengths does Bac Giang possess to complete the assigned growth targets?

- When analyzing deeply and pointing out the growth drivers of Bac Giang, the point worth noting is the local economic structure, in which the proportion of industry and construction in the province's GRDP always maintains an average level of over 60%.

While this figure for the whole country is only about 30%. It is the change in economic structure, shifting to industrial production that has been the fulcrum for Bac Giang's economy to accelerate in recent times.

This has also been specified in the Resolution of the 19th Provincial Party Congress, with the orientation of taking industry as the main pillar and driving force to promote growth, shift economic structure and develop other fields.

In addition, a positive signal for Bac Giang to achieve a growth rate of 13.6% in 2025 is that the local economy has always maintained a double-digit growth rate from 2022 to present, with an estimated economic growth of about 14.1% in the 2021-2024 period. Total import-export turnover in 2024 will reach over 60 billion USD, of which the trade surplus will be over 6 billion USD. In addition, Bac Giang also has many advantages and room for development.

Firstly, regarding agriculture, with effective support mechanisms and policies from the Central and the province, more and more enterprises are investing in agricultural production, which has had a spillover effect, gradually changing production habits in the area, contributing to improving productivity and quality of agricultural products, forecast to increase by about 3.8% in 2025.

Second, industrial production maintained a high growth rate and continued to be the main driving force for the province's growth.

Impressive investment attraction results in 2024 (over 2 billion USD of converted investment capital) are the basis for many new investment projects to come into operation in 2025, a number of important projects that make great contributions to the industry continue to maintain stable production, expand capacity compared to design, total production value in 2025 is about 703,000 billion VND, an increase of 22.4% compared to 2024.

Notably, in the first two months of the year, the province was approved by the Prime Minister to invest in 4 industrial parks with an area of 860.38 hectares, which will create new space for the locality to attract investment capital by the end of 2025 and the following years.

Third, the foreign-invested economic sector continues to maintain a high growth rate; some high-value industrial production sectors such as garment have secured production orders for the whole year; the service sector has achieved a stable growth rate, some tourist areas and historical relics have been focused on investment, improving the quality of cultural and ecological tourism areas, gradually positively impacting the development of tourism services in the province, expected to increase by about 7.5%.

Fourth, the province always determines that good disbursement of public investment capital will promote production and business, create jobs, create momentum for development, and open up new spaces.

Therefore, from the beginning of the year, the Provincial People's Committee has directed agencies, units, and investors to focus, resolutely, and synchronously perform tasks and solutions to shorten the time in the steps of establishment, appraisal, and approval to start construction as soon as possible for new projects.

To date, the total public investment capital plan for 2025 managed by the locality has been assigned 7,509 billion VND; in 2024 alone (as of January 31), the disbursement rate of the whole province reached 91.3%.

According to you, does the Government's first issuance of a separate resolution on growth targets for 63 localities in one year create pressure on local leaders?

- The Government's issuance of a separate resolution on building a national growth target of over 8% by 2025 is both a pressure and a motivation for each level, each sector and locality to strive. A very important approach of Resolution 25 is to assign responsibility to each ministry, sector and locality.

This is a very different approach from many previous resolutions. Each locality must attach its specific responsibilities to common goals, creating motivation for localities and ministries to act.

In addition, Resolution 25 of the Government also shows the focus on promoting further development in potential areas. Provinces and cities with the ability and potential for development will be encouraged to strive further to contribute to the common goal of the whole country.

The requirement that no locality grow below 8% has placed higher demands on all localities to reform, innovate and seek solutions to improve economic efficiency.

In addition, based on the capacity of each locality, the targets and objectives set out in Resolution 25 have been carefully considered and reviewed; they are suitable for practice and ensure feasibility, rather than being rigidly imposed on each locality, industry, or field.

Each locality must strive to surpass itself, realizing the message of the General Secretary and Prime Minister: Localities must decide for themselves, do for themselves, and take responsibility for themselves. Each locality must know how to find its own priority coordinates to promote its best capacity and strengths.

What solutions will Bac Giang implement to achieve the highest growth target in the country as assigned by the Government? How should the Government and ministries and branches support the locality?

- To achieve the growth target of 13.6% in 2025, the People's Committee of Bac Giang province has focused on directing the tasks and solutions for socio-economic development, through the issuance of the Plan to implement Resolution 01/NQ-CP and Resolution 02/NQ-CP of the Government to ensure the prescribed time.

Accordingly, Resolution 01 is specified into 8 main tasks and solutions, 18 main targets, growth scenarios are developed for each quarter and 105 specific tasks are assigned to agencies, units and localities with time and responsible persons; Resolution 02 is specified into 6 tasks. In particular, a number of key tasks and solutions are identified by the province that need to be focused on.

Firstly, complete the arrangement and streamlining of provincial and district-level agencies and units, consolidate public service units, and arrange commune-level administrative units effectively and efficiently to ensure stable operations from the end of the first quarter.

Second, resolutely carry out the basic construction work (documents, procedures, disbursement) from the beginning of the year, striving for the disbursement rate for the whole year to reach over 95%. Accelerate the implementation of key projects and works with spillover effects with the motto of taking public investment as the leading factor, activating investment, mobilizing and effectively using all social resources.

Third, focus on improving the investment and business environment, focusing on removing difficulties, bottlenecks and barriers for people and businesses in production and business activities, creating a truly open, transparent and attractive investment and business environment.

Fourth, ensure security and order, contributing to creating a favorable environment to promote socio-economic development with the motto "3 safe": "social security", "people's security" and "safety" so that people and businesses can work and produce with peace of mind.

To create conditions for Bac Giang to achieve the highest growth target in the country in 2025, Bac Giang hopes to continue to receive more attention and support from the Government, the Prime Minister, Deputy Prime Ministers, leaders of Central Committees, Ministries, and branches, and leaders of provinces and cities in coordinating to perform tasks.

Thank you!

Content: Thanh Huong