Steady steps for long-term development goals

In the context of economic fluctuations, Quang Ninh's outstanding results in state budget revenue are clear evidence of the locality's management capacity and resilience. With a total revenue of more than 69,000 billion VND after 10 months, equal to about 125% of the central budget estimate and up to 57% over the same period last year, Quang Ninh is creating strong momentum to reach a high finish line in 2025 and firmly step towards long-term development goals.

Manufacturing textile products for the garment industry at Hai Ha Industrial Park.

According to a quick report from the Department of Finance, in the first 10 months of 2025, the whole province collected 69,117 billion VND of the state budget, reaching 125% of the central budget estimate and 121% of the provincial budget estimate, an increase of 57% over the same period in 2024. Of which, revenues directly contributing to GRDP reached 21,167 billion VND, an increase of 1% over the same period; budget expenditure reached 20,516 billion VND, equal to 70% of the estimate. The target for the last 2 months of the year is to continue to collect an additional 13,049 billion VND, bringing the whole year estimate to 82,166 billion VND, equivalent to 151% of the central budget estimate and 146% of the local budget estimate, an increase of 55% over the previous year.

In addition to budget collection activities, the investment and business picture in Quang Ninh also left a strong impression. As of October 30, 2025, the whole province established 1,991 new enterprises, reaching 99.55% of the yearly plan and increasing by 28.7% over the same period. The registered capital reached about VND 18,323.6 billion. The number of newly established cooperatives reached 173, increasing by 215% of the plan. Regarding public investment, the capital plan as of October 28 was VND 16,754 billion, VND 4,848 billion higher than the plan assigned at the beginning of the year; VND 6,105 billion has been disbursed, equivalent to 51.3% of the plan assigned by the Prime Minister, 32% higher than the same period. In addition to the budget, non-budget investment capital also achieved outstanding results. In 10 months, investment policies were approved for 320 projects, with total registered/adjusted capital reaching more than VND 240,264 billion.

According to the assessment, the 9-month GRDP growth rate of Quang Ninh reached about 11.66%, the highest level in 10 years. This shows that abundant financial resources have been and will continue to be a "lever" to promote production and business sectors, infrastructure investment and urban development. The sharp increase in budget revenue mainly comes from domestic revenue sources, especially revenue from land use fees and taxes and fees. According to the report of the Quang Ninh Tax Department, by the end of October 2025, domestic revenue reached VND 54,285 billion, equal to 145% of the central budget estimate and increased by 89% over the same period last year. Of which, land use fees were a bright spot with VND 22,274 billion, equal to 405% of the estimate. However, there was still pressure from import-export revenue when this item reached about VND 13,655 billion, equal to 77% of the estimate and decreased by 10% over the same period due to the impact of tax policy and fluctuations in the international market.  

These results were not unexpected, because from the very beginning, the province proactively improved the effectiveness of budget revenue and expenditure management; strengthened financial discipline; strongly fought against revenue loss and tax fraud; and at the same time, made good use of resources from land investment, real estate, tourism services and seaports. This, together with the increasingly improved investment environment, has created a chain of "double growth" - strong budget increase, effective investment, and economic expansion. Along with that, to achieve sustainable growth, the province also actively follows the principle of budget collection to support businesses, from disbursement of investment capital to regional linkages, from institutional innovation to digital transformation. These factors create a comprehensive picture for the locality not only to achieve high goals this year but also to lay a solid foundation for the coming years.

At a recent meeting with the Working Group to implement tasks in the fields of finance, budget, investment and regional connectivity of the province, Comrade Bui Van Khang, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, Head of the Working Group emphasized: Large resources from the budget are favorable but also a bigger challenge - how to turn those favorable conditions into development motivation, into reality for projects, for people, for businesses and for the future of the province. Prospects but still require great efforts because strong increase in budget revenue does not automatically turn into development if it is not accompanied by effective management, fast disbursement, attracting quality investment and ensuring a balanced environment and society. Bottlenecks such as public investment disbursement not fully meeting the plan, import-export revenue being affected by international fluctuations, or the implementation of some business support mechanisms still need to be promoted more. To turn budget collection results into development strength, he requested departments and branches in the final months of the year to focus on key groups of tasks: Accelerate budget collection progress, especially in items with large space and not yet implemented; urge disbursement of public investment capital, ensure capital is transferred into completed and operational projects; at the same time, continue to perfect the policy framework to support businesses, promote a favorable investment environment. He emphasized that project investors must closely follow the progress, clearly assign responsibilities to people and tasks; transfer capital from unfeasible projects to projects with good disbursement capacity, ensure that the actual capital is disbursed at 100% of the plan.

With a determined spirit and outstanding figures in budget and investment, Quang Ninh is facing a turning point, not only completing the 2025 plan but also realizing the expectation of becoming a new growth engine of the entire Northern region, laying the foundation for a more breakthrough development period in the future.

Hoai Anh

Source: https://baoquangninh.vn/vung-buoc-cho-muc-tieu-phat-trien-dai-han-3384410.html