Lao Cai implements strategic solutions to promote "double-digit" economic growth

Resolution No. 05-NQ/TW dated November 1, 2016 of the 4th Conference of the 12th Party Central Committee on a number of major guidelines and policies to continue to innovate the growth model, improve growth quality, labor productivity, economic competitiveness and strategic solutions to promote "double-digit" economic growth in the new era - the era of the Vietnamese people's rise

In the period of 2016-2025, in addition to implementing the policies of the Central Government, Lao Cai province has proactively issued a system of synchronous mechanisms and policies in all socio-economic fields to continue to innovate the growth model, improve growth quality, labor productivity, and economic competitiveness. Giving the policy for the Provincial People's Council to issue 202 Resolutions, the leaders of the Provincial People's Committee issued 158 decisions on mechanisms and policies to encourage development, mobilize resources, manage investment, and support production and business to promote socio-economic development.

Lao Cai strives for "double-digit" economic growth

The average growth rate of gross regional domestic product (GRDP) in the 2016-2020 period (2010 comparative prices) reached 7.33%/year; the average in the 2021-2025 period reached 6.92%/year, 0.41 percentage points lower than the 2016-2020 period, 0.62 percentage points higher than the national average (6.3%/year).

The economic structure has shifted positively towards reducing the proportion of agriculture, forestry and fishery (from 19.29% in 2016 to 19.01% in 2020 and 16% in 2025), increasing the proportion of industry - construction (from 31.88% in 2016 to 34.94% in 2020 and 37.31% in 2025) and services (from 38.32% in 2020 to 39.2% in 2025).

GRDP per capita reached over 85 million VND, an increase of 46.5 million VND compared to 2016, an increase of 29.9 million VND compared to 2020. Average income per capita reached 47 million VND, an increase of 17.3 million VND compared to 2020.

The industrial production value in 2025 is estimated at 71,800 billion VND, an increase of 45,849 billion VND compared to 2015 and an increase of 19,184 billion VND compared to 2020, showing that the industrialization process is being promoted, production capacity and the ability to attract investment are increasingly improved.

Total retail sales of goods and consumer service revenue is estimated at VND 84,500 billion, an increase of VND 54,670 billion compared to 2015 and an increase of VND 35,220 billion compared to 2020. The synchronous growth between industrial production and consumption contributes to creating a solid foundation for socio-economic development, ensuring balance and harmony in the economic structure.

State budget revenue in the area has clearly increased, from over VND 8,600 billion in 2016 to VND 21,000 billion in 2025. Average credit growth in the period 2017 - 2020 reached 14.6%/year; in the period 2021 - 2025 reached 10.8%3; the bad debt ratio in both periods has always been maintained continuously below 1% of total outstanding credit.

After nearly 10 years of implementing the Resolution, Lao Cai's economy has had positive changes, maintaining a fairly high growth rate compared to the whole country and other provinces in the Northern midland and mountainous region, the economic structure has shifted in the right direction, infrastructure has been invested and built synchronously, creating favorable conditions for socio-economic development, people's lives have continued to improve, political security has been maintained and social order and safety has been ensured. Most of the main socio-economic indicators have been achieved and exceeded the annual plan. The economic scale has been constantly increasing over the years, the total product in the province at current prices in 2025 is estimated to reach 142 trillion VND, equal to 1.64 times compared to 2020, equal to 2.47 times compared to 2026. GRDP per capita reaches over 85 million VND, an increase of 49.6 million VND compared to 2015, an increase of 29.9 million VND compared to 2020. Average income per capita reaches 47 million VND, an increase of 17.3 million VND compared to 2020.

However, Lao Cai province still faces many difficulties, with a small economic scale, low labor productivity and competitiveness, unsynchronized infrastructure, and frequent impacts of natural disasters and climate change; human resources have not met development requirements; the lives of a segment of the population in mountainous areas and ethnic minority areas are still difficult. The restructuring of the apparatus needs time to stabilize; in addition, the development gap between regions requires reasonable resource coordination and ensuring equal public services. That context requires the entire Party to promote intelligence, dynamism, creativity, seize opportunities, turn difficulties into driving forces, challenges into opportunities, effectively exploit new growth drivers, create breakthroughs in building Lao Cai province to develop, confidently enter a new era with the whole country, an era of national wealth and prosperity.

Lao Cai identifies the goal of building a clean and strong Party and political system in all aspects; firmly ensuring national defense and security; promoting all potentials, advantages, resources and human factors, effectively exploiting new growth drivers, creating a breakthrough in building Lao Cai province into a growth pole, a center for international economic trade connections, developing in a green, harmonious, unique and happy direction.

In the coming time, Lao Cai will continue to implement strategic solutions to promote high and sustainable growth: Building a clean, strong party and political system that operates effectively, efficiently and effectively. Perfecting and improving the effectiveness of organizing the implementation of mechanisms and policies, creating breakthroughs in the legal corridor for rapid and sustainable development. Focusing on prioritizing economic development, increasing labor productivity associated with growth model innovation, taking science, technology, innovation, creativity and digital transformation as the main driving force. Rapidly developing synchronous and modern infrastructure, exploiting new development space infrastructure, connecting regions, inter-regions, growth poles inside and outside the province. Fundamentally, comprehensively and substantially innovating education and training; improving the quality of human resources and employment for workers. Creating breakthroughs in the application and transfer of science and technology; innovation and digital transformation. Managing sustainable social development, ensuring progress and social justice. Effectively manage and use resources, protect the environment, proactively respond to natural disasters, and adapt to climate change. Strengthen national defense and security; firmly protect national borders. Promote foreign relations and extensive international integration./.

Linh Vu

Source: https://www.laocai.gov.vn/tin-trong-tinh/lao-cai-thuc-hien-cac-giai-phap-chien-luoc-thuc-day-tang-truong-kinh-te-2-con-so-1534952