Nghe An firmly targets GRDP growth of 10.5%

Adjust the following quarters' goals to achieve results

In the first quarter of 2025, the total regional product (GRDP) is estimated to reach 8%, lower than the level needed to ensure the average target for 2025. However, the province determined not to adjust the growth target but to focus on accelerating in the following quarters.

The Department of Finance has coordinated with the Nghe An Provincial Statistics Office and related departments, agencies and sectors to review and adjust the growth scenario for the second quarter and the remaining quarters of 2025, to ensure the annual growth target reaches 10.5%. Of which: Growth in the second quarter is 10.25%, in the third quarter is 11.18%, and in the fourth quarter is 12%. On average, each quarter increases by about 0.23% compared to the initial scenario.

Nghe An has many strengths to firmly achieve the above growth target: In the past 2 years, Nghe An has continuously been in the group of leading localities in the country in attracting foreign direct investment (FDI).

In 2023, the province attracted 1.603 billion USD of FDI capital, surpassing the 1 billion USD mark for the first time and ranking 8th nationwide. In 2024, Nghe An continued to set a new record with nearly 1.75 billion USD of FDI capital, with the participation of large technology corporations such as Foxconn, Luxshare, Goertek, Everwin and Juteng, creating more than 86,000 jobs.

FDI capital into Nghe An in 2023, 2024 and the first quarter of 2025. Graphics: Hong Toai

In the first quarter of 2025, FDI capital reached 111.9 million USD, with an additional highlight being the VSIP Nghe An 3 project preparing to be invested with an investment capital of 52.5 million USD, continuing to affirm the investment attraction in the Southeast Economic Zone.
Regarding infrastructure, key projects such as the North-South Expressway and the 500kV line 3 were completed, helping to increase connectivity and unleash economic potential.

This is an important foundation to promote industrial parks and enhance access to domestic and foreign markets.

Nghe An provincial leaders work at VSIP Urban Industrial Park. Photo: Thanh Duy

Regarding information infrastructure and digital transformation: The province has strongly implemented digital transformation in management and administration, creating convenience for people and businesses, contributing to shortening the time for processing procedures and improving the investment environment. This is an important factor, helping Nghe An attract more investment and improve management efficiency.

There are challenges
Although Nghe An's total state budget revenue in 2024 reached VND 25,096 billion, exceeding 55.9% of the estimate, there are still potential challenges due to its heavy dependence on land use fees (accounting for 42.7%). State budget revenue in the locality in the first 4 months of the year was VND 8,980 billion, reaching 50.7% of the estimate, equal to 105.6% of the same period in 2024. Local budget expenditure is estimated at VND 16,218 billion, reaching 38.6% of the estimate.

View of Quang Trung Street (Vinh City). Photo: PV

This leads to difficulties in long-term financial planning and limits the ability to invest in development. Some key projects are still stuck in terms of land such as coastal roads, upgrading National Highway 46; upgrading National Highway 7...

Besides, although the disbursement rate of the 2025 plan is higher than the national average, it is still lower than the same period in 2024 (22.56%/same period 24.12%).

Another challenge is that although it is a key area for attracting investment, factories still lack both unskilled and highly skilled labor.
Mr. Ma Zhi Hua - Human Resources Director of Everwin Precision Technology Co., Ltd. informed: Up to now, the company has recruited 2,000 workers out of a total of 15,000 people. By the end of 2025, the company will try to recruit 1,000 more people to reach 3,000 people, of which 2,500 are Vietnamese. Currently, the company has completed phase 2 and is building phase 3, so it still needs to recruit a lot of workers. The company hopes that authorities at all levels will have solutions to support worker recruitment to effectively exploit the production lines.

Solutions to achieve growth targets

To achieve the growth target in 2025 as planned, the People's Committee of Nghe An province has directed sectors and localities to implement many key solutions:

Accordingly, sectors and localities continue to review and re-evaluate the results achieved in the first quarter and April; closely follow the adjusted growth scenario and propose specific solutions to direct the acceleration, synchronous and effective implementation of key tasks in May and the second quarter of 2025 to be determined to complete the 2025 growth target of 10.5%.

Vinh - Cua Lo Boulevard is open and welcoming tourists. Photo: Tran Chau

Strengthen and promote the effectiveness of the 5 Working Groups to promote growth in sectors and fields established by the Provincial People's Committee. Proactively work with localities, investors and enterprises to grasp and promptly remove difficulties and obstacles to strongly promote production and business activities in the area.

Resolutely reorganize administrative units at all levels and build a two-level government; promptly implement the directions of the Central Government, the National Assembly, the Government, and the Prime Minister on matters related to the reorganization of the administrative apparatus. In addition, proactively review and carefully prepare conditions to ensure that agencies and units operate smoothly and effectively. Review, inventory, handle, and arrange public assets, unused houses and land, and surplus houses and land after mergers, ensuring compliance with the provisions of law.

Direct departments, branches, district-level People's Committees, and investors to review records and documents, make a list, and plan for handover and transition of management of programs, tasks, projects, and public investment plans. Implement financial and state budget handling when reorganizing administrative units at all levels and building a 2-level local government organization model.

Resolutely and effectively implement solutions to promote disbursement of public investment capital; strengthen inspection, supervision, and work with investors to remove difficulties and obstacles, especially slow-disbursement projects and large-capital plans. Ensure the progress of key projects and works according to the conclusion of the Provincial Party Standing Committee in Notice No. 1789 dated April 23, 2025. Well perform the task of budget collection and expenditure; thoroughly save budget expenditures, especially regular expenditures; strengthen expenditure control, ensure correct, sufficient, and effective expenditures.

Synchronously implement solutions to strongly improve the business investment environment in a drastic and effective manner. Focus on supporting projects to come into operation in 2025 as planned, especially FDI projects in the Southeast Economic Zone. Speed ​​up the completion of procedures to implement key projects: Cua Lo deep-water port, Vinh airport, Quynh Lap LNG project. Currently, the working groups of the Provincial People's Committee regularly stay close to the locality and base to grasp the situation and advise on solutions.

Production in the Southeast Economic Zone. Photo: Tran Chau

Nghe An continues to vigorously implement the program of mobilizing and supporting the construction and repair of houses for the poor and people with housing difficulties to ensure the set progress.

Continue to promote administrative reform, review, cut down, and simplify regulations and administrative procedures, ensuring to shorten at least 40% of the time for people and businesses; implement the plan to implement Resolution No. 57 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation. Continue to carefully prepare the contents to organize party congresses at all levels, term 2025 - 2030. Strengthen measures to ensure fire prevention and fighting safety during the hot season and direct summer-autumn production in 2025.

Mr. Nguyen Viet Hung - Deputy Director of the Department of Finance said: The growth target is very high. To achieve the set target, the Finance sector has advised the Provincial People's Committee to adjust the growth scenario for the remaining quarters, advise on solutions to manage revenue sources, increase revenue sources, save expenditures, and disburse public investment. Coordinate with units to prepare conditions to ensure that agencies and units operate smoothly and effectively after the reorganization...

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Source: https://baonghean.vn/nghe-an-kien-dinh-muc-tieu-tang-truong-grdp-10-5-10296896.html