Attracting resources for socio-economic development

In recent years, the province has implemented many synchronous solutions to promote sustainable development and achieved important achievements. In the period of 2021 - 2025, the province's economic growth rate will reach 7 - 7.5%/year - this is a higher growth rate than the average growth rate of the whole country. The size of the economy will increase 1.5 times, from 124 trillion VND in 2020 to about 185 trillion VND in 2025. The average GRDP value per capita will reach about 145 million VND in 2025. Growth quality will gradually improve, labor productivity will increase by an average of 11%/year.

The increasing number of FDI enterprises investing in the province is one of the important driving forces to boost the economy. Photo: Nguyen Luong

The economic structure has shifted relatively quickly towards increasing the proportion of industry - construction , services - trade; tourism has gradually become a spearhead industry; at the same time, a number of important economic sectors have been formed and developed such as electronics, steel, automobile, mechanical engineering, etc. Budget revenue has increased sharply, especially reaching over 40 trillion VND in 2022; socio-economic infrastructure, especially transport and urban infrastructure, has received investment and upgrading attention.

The cultural and social fields have made progress; the quality ofeducation , training and health care has been increasingly improved; social security has been ensured, and the poverty rate has decreased rapidly. The material and spiritual life of the people, especially of ethnic minorities, has been significantly improved.

To achieve that result, the province has issued and implemented many synchronous mechanisms and policies to mobilize investment resources for development, focusing on building and innovating mechanisms and policies to attract maximum financial resources from economic sectors, especially mobilizing capital from people and enterprises to invest in production and business.

Transport infrastructure is increasingly invested in a synchronous and modern manner, meeting the socio-economic development needs of the province in the new period. Photo: Nguyen Luong

By the end of the first quarter of 2025, the total social development investment capital in all three economic sectors in the province reached more than VND 9,682 billion, an increase of 8.33% over the same period. Of which, the State sector reached VND 1,723 billion, an increase of 2.68%; the non-State sector continued to play a key role with a total investment capital of VND 4,643 billion, accounting for 47.95% of the total social investment capital, an increase of 12.99%; the foreign direct investment sector reached VND 3,316 billion, an increase of 5.25%, accounting for 34.25% of the total social investment capital.

Notably, the private economy is contributing to promoting innovation, improving labor productivity, and increasing the province's competitiveness when large private enterprises such as Song Hong Thu Do Joint Stock Company, Viet Duc Steel Pipe Joint Stock Company, CNCTech Group Joint Stock Company, Vinh Phuc Pharmaceutical Joint Stock Company, Vinh Phuc Water Supply and Drainage Joint Stock Company No. 1 are leading in many fields, from precision mechanical engineering, steel, urban infrastructure investment to pharmaceuticals, healthcare, clean water, etc.

A typical example is CNCTech Group Joint Stock Company with a multi-industry industrial development ecosystem. Up to now, CNCTech Group is not only a trusted partner of domestic and international enterprises in the field of precision mechanical processing and semiconductor industry, but also an important partner of the province in attracting strategic investors and secondary investors with financial potential and experience when "encroaching" on infrastructure business of some industrial parks in the province and factory leasing.

Currently, CNCTech Group owns 12 factories nationwide, including 5 factories in Vinh Phuc; at the same time, there are more than 500 hectares of industrial land for lease, contributing to promoting the economic development of the province to increasingly shift in the right direction.

Recently, CNCTech Group has entered the top 500 on the Vietnam Fastest Growing Enterprises Ranking (FAST500) in 2025. This ranking aims to honor outstanding enterprises that are actively contributing to the development of the Vietnamese economy. Thereby, it increasingly affirms the breakthrough development of CNCTech Group, becoming a leading multi-sector industrial enterprise in the province in particular and Vietnam in general.

Identifying the important role of mobilizing investment resources for socio-economic development, the province continues to improve mechanisms and policies to promote the attraction of investment capital. Building mechanisms and policies with outstanding incentives, international competitiveness, creating favorable business conditions to attract large, key national projects, high-tech projects, attracting FDI from partners in developed countries to promote economic restructuring, promote the development of key economic sectors such as tourism, trade - services, industries with potential and advantages, etc.

Attract domestic and foreign investment capital through focusing on investment in construction and upgrading of synchronous, modern and highly connected socio-economic infrastructure. Promote the development of digital infrastructure; education and training infrastructure, science and technology centers, health care... according to the planning. Improve the investment and business environment to promote economic cooperation, mobilize and attract investment capital, ODA capital, FDI capital, investment sources from the private sector...

Ngoc Lan

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/128065/Thu-hut-nguon-luc-phat-trien-kinh-te---xa-hoi