Kim Long Motor Hue Joint Stock Company, with its presence in the area, will contribute to increasing the economic strength of Hue city. Photo: Q. Vien

The highest growth in the first nine months of the year in many years

According to the report of the Director of the Department of Finance, in the first 9 months of 2025, the city's GRDP is estimated to increase by 9.06% - the highest increase in many years. This is a very positive signal showing that Hue is approaching the double-digit growth target assigned by the Government. This result was achieved thanks to all three growth drivers of the city: investment, consumption and export in the first 3 quarters of the year, all increasing quite strongly compared to the previous year.

The city's economic picture in the first 9 months of the year highlighted bright spots: Tourism welcomed nearly 5 million visitors, up 67% over the same period, revenue reached more than 9,600 billion VND; industry increased by 17.5%, with many products increasing dramatically such as cars increased 5.9 times, medical gloves increased 16 times, electricity production increased 60%...; export turnover reached 1.13 billion USD, up 25.6%, the highest ever; public investment disbursement reached 74.3% of the capital plan, far exceeding the national average (46.3%). In addition, the city has granted 40 new investment projects, with a total registered capital of more than 30,000 billion VND, including 9 FDI projects; budget revenue is estimated at 10,649 billion VND, equal to 83.5% of the estimate, up 22.1% over the same period last year; Total retail sales of goods and services reached nearly 48,850 billion VND, up 14.7%...

More happily, many new and large production and business capacities have been added to the city, increasing the internal strength of the economy. Kim Long Motor Hue's automobile factories and Kalongda medical gloves have been put into stable production, with output increasing rapidly. The project to increase the capacity of Phu Bai Brewery from 410 million liters/year to 600 million liters/year, with an investment capital of more than VND 3,400 billion, has completed equipment installation and officially operated in September 2025. The Eon Industry Vietnam Helmet Factory Phase 1 was inaugurated, creating jobs for more than 800 workers. In the service sector, Hue hosted the National Tourism Year 2025 with many festivals held, many long holidays... attracting many tourists to Hue, increasing social consumption. Stable agricultural production and low risk of natural disasters have helped the city's economy flourish.

Hue City has also actively implemented important resolutions of the Politburo, the National Assembly and the Government; proactively established 4 working groups to review and remove difficulties and obstacles for investors, works and projects of all economic sectors to unlock resources for development. However, in the context of the world economic and political situation continuing to evolve rapidly, complicatedly, unpredictably, and unforeseeably; the weather is changing complicatedly and abnormally, to achieve and surpass the minimum GRDP growth threshold of 10% this year and the following years still faces many challenges, and we cannot be subjective or complacent.

Double-digit growth solutions

To realize the target of GRDP growth of 10% or more this year and the following years, in our opinion, the city needs to pay attention to and synchronously deploy the following groups of solutions:

Firstly, promote the growth momentum of social investment. Social investment capital includes state capital, non-state capital and foreign direct investment capital. This is one of the components of GRDP. To increase GRDP, it is necessary to increase social investment capital, specifically increasing the investment capital of the above three components.

Regarding State investment capital, it is necessary to review and urge the progress of site clearance, construction and disbursement of capital for public investment projects of the city, sectors and communes and wards under management, ensuring 100% disbursement of the 2025 plan. Require investors to immediately complete procedures to submit to competent authorities to allocate capital plans for works and projects that have capital but are waiting for procedures. Direct to speed up progress to soon put into operation key projects with large investment capital such as Nguyen Hoang Street, To Huu Street extended to Phu Bai Airport... in order to soon complete the infrastructure system.

For non-state capital, including investment capital of enterprises and people, it is necessary to strengthen coordination between levels and sectors to remove obstacles in administrative procedures, land, planning, site clearance, construction permits, etc., creating conditions for people and licensed enterprises to accelerate construction progress and increase the economy's capital. Support investors who are implementing large industrial and service projects in the area such as Dat Phuong super white flower glass factory, quartz sand processing, artificial stone production, wharves, logistics zones, duty-free zones, infrastructure of industrial zones and clusters, tourism projects, etc.

For foreign direct investment (FDI), support legal procedures for businesses to invest in expanding production and business scale; support newly licensed investors to soon start construction of projects.

Second, promote domestic consumption and exploit the domestic market. Domestic consumption includes State consumption (public expenditure) and non-State consumption, i.e. consumption by individuals, households and enterprises. This is also a component of GRDP.

To boost public spending, on the one hand, it is necessary to speed up the construction progress and disbursement of public investment projects. On the other hand, it is necessary to use up all regular expenditure and public service expenditure allocated to budget units, not to transfer the source to the following year.

To increase consumption of people and businesses, it is necessary to develop, improve quality, expand and diversify the market for local services and goods, meeting the needs of domestic and foreign consumers. Support businesses of all economic sectors to develop production and business, speed up project progress; increase social purchasing power by attracting more tourists, students, and people from other places to Hue for tourism, study, medical examination and treatment... Develop new tourism products associated with heritage, festivals, ecology and cultural experiences. Strengthen promotion, regional and international linkages to attract high-quality tourists. Continue to support the provision of market information to businesses and individuals to open up the domestic market; promote the campaign "Vietnamese people prioritize using Vietnamese goods", build a suitable distribution system, contributing to increasing consumers' access to domestic goods.

Third, promote the increase of export turnover. Net export (export turnover minus import turnover) is also a component of GRDP. Therefore, to increase GRDP by more than 10%, it is necessary to promote the export of goods and services by increasing the output and value of exported goods and diversifying export markets. In addition, it is necessary to support and promptly resolve difficulties and problems for enterprises producing export goods locally.

Fourth, create new growth drivers. Continue to resolutely, synchronously and effectively implement the "four pillars" resolutions (Resolutions No. 57-NQ/TW, 59-NQ/TW, 66-NQ/TW, 68-NQ/TW) and newly issued resolutions of the Politburo to create new development drivers. Promote the implementation of solutions to promote the development of digital economy; green economy; circular economy; new business models; emerging industries and fields such as artificial intelligence (AI), big data, cloud computing, cultural industry, entertainment industry... to renew the growth drivers of the city's economy.

The target of double-digit GRDP growth is a big challenge but also a golden opportunity for Hue to affirm its new position. With the strong direction of the Government, the synchronous participation of Party committees and authorities at all levels and the consensus of the people, Hue can completely achieve this goal.

Tuan Ha

Source: https://huengaynay.vn/kinh-te/huong-den-muc-tieu-tang-truong-grdp-hai-con-so-158403.html