Provincial Party Secretary Trinh Viet Hung and delegates cut the ribbon to inaugurate the Ring Road V of the Hanoi Capital Region, section passing through Thai Nguyen province.

Central determination

2025 is the final year of implementing the 5-year socio-economic development plan 2021-2025, which is of special importance, a year of acceleration, breakthrough, creating the foundation and premise for implementing the plan set out for the entire period 2026-2030. Therefore, to achieve the double-digit growth target, the Government has requested ministries, branches and localities to focus on leadership and direction, giving the highest priority to promoting growth associated with macroeconomic stability, controlling inflation, ensuring large balances and high surplus. The Government determined that this is not only a challenge but also an aspiration for the country to rise strongly in the new era - the era of national rise. The solution proposed at the beginning of 2025 is to drastically and effectively implement 3 strategic breakthroughs, 6 key tasks and 12 main groups of solutions.

Hanoi Capital Region Belt Road, section through Thai Nguyen province.

However, after the end of the first quarter, the country's economic growth rate only reached 6.93% (although the highest compared to the same period in previous years, it has not yet reached the target set by the 2025 growth scenario), so the Government has directed the Ministry of Finance to study, propose and immediately update a new scenario on economic growth for the year. Accordingly, the last 9 months of the year must grow by 8.3% to achieve the growth target of 8% or more for the whole year. Specifically, growth in the second quarter must reach 8.2%, the third and fourth quarters must be 8.3% and 8.4%, respectively, about 0.2 percentage points higher than the proposed scenario.

To achieve the new growth scenario, the expert agency believes that in the second quarter alone, the processing and manufacturing industry needs to increase by 10.1% over the same period to continue to be an important driving force for growth. Focus on some production areas to contribute more to growth such as electricity, gas and mining. In addition, it is necessary to promote the disbursement of public investment capital because this area still has a lot of room (nearly 826,000 billion VND was allocated in 2025) plus the service and tourism sectors are maintaining positive growth momentum and have a lot of potential.

Delegates performed the groundbreaking ceremony of the Yen Binh 3 Industrial Park Infrastructure Investment and Construction Project.

The Government is directing ministries, sectors and localities to promote groups of tasks and solutions in both the short and long term. Accordingly, in the immediate future, it is necessary to strengthen dialogue and promote negotiations related to tariffs and trade balance; promote public investment, domestic investment and attract foreign investment; protect the domestic market and promote tourism activities; perfect institutions and laws, improve the investment and business environment, etc.

Striving to achieve high growth targets in 2025 to create a solid foundation for the following years is very important, but the Government also requires rapid but sustainable growth, maintaining macroeconomic stability, controlling inflation, ensuring major balances. At the same time, harmonious development between the economy and society, environmental protection, ensuring national defense and security.

Thai Nguyen action

Thai Nguyen province is determined to strive for an economic growth rate of 10.5% or more by 2025. This is a difficult task, requiring high determination and drastic actions to be completed, creating momentum for double-digit growth in the following years. With strong leadership and strategic vision, Thai Nguyen province has been striving to overcome difficulties and seize opportunities to promote growth.

At the end of the first quarter of this year, many positive signals were recorded for the province's economic development such as: State budget revenue increased by 29% over the same period; public investment disbursement ranked 22nd out of 63 provinces and cities; the people's satisfaction index and the province's administrative reform index in 2024 (just announced) ranked 2nd and 5th out of 63 provinces and cities nationwide, respectively... This creates motivation and momentum for us to strive to complete according to the proposed growth scenario.

Garment production at TNG Investment and Trading Joint Stock Company.

To achieve the growth target, Thai Nguyen province is directing the implementation of key solutions on the basis of focusing on drastic and effective implementation of new, breakthrough mechanisms, policies and regulations that have been issued, removing and immediately releasing resources of the economy. Regarding promoting investment attraction, the province relies on the foundation of attracting many resources from previous years, especially in 2024, the whole province has 22 domestic projects with a total capital of over 3,423 billion VND and 28 FDI projects with a total registered capital of over 522 million USD granted investment policies. From there, in 2025, the province aims to attract 4.6 billion USD of FDI capital and 42.8 trillion VND of domestic investment capital.

The province has identified digital transformation and high-tech application as important factors for rapid and sustainable growth. This is the foundation for improving labor productivity, production and supply chains, and quality of life. Thai Nguyen has actively implemented programs to support businesses in digital transformation, providing online public services, and developing digital infrastructure.

In the trend of sustainable development, Thai Nguyen focuses on green economy, encouraging businesses to invest in environmentally friendly projects. The province has issued preferential policies for projects using clean technology, recycling and efficient use of resources. This not only contributes to environmental protection but also creates long-term economic value.

Production of monocrystalline silicon bars and monocrystalline silicon wafers at Trina Solar Energy Development Co., Ltd. (Yen Binh Industrial Park).

In addition, the province focuses on reforming administrative procedures, simplifying processes and reducing costs for businesses. By 2025, it strives to reduce at least 30% of administrative procedure processing time; all procedures must be carried out online, smoothly, seamlessly and effectively, ensuring transparency and minimizing paperwork.

It is known that the Department of Finance has advised the Provincial People's Committee to effectively implement the Project "Supporting small and medium enterprises, improving the competitiveness of enterprises in Thai Nguyen province in the period of 2021-2025" with 10 specific solutions, including support for market entry, providing information and advice, and developing human resources.

Transport and urban infrastructure is also an important sector to promote growth. The province has a policy of increasing investment resources to synchronize transport and urban infrastructure to connect industrial parks, urban areas and key economic zones. Projects such as belt roads, overpasses and regional connecting routes have been implemented, facilitating the transport of goods and attracting investment.

In the medium and long term, Thai Nguyen province determines to continue improving the investment environment, promoting administrative reforms, creating favorable conditions for businesses, especially start-ups and high-tech enterprises. Promote the development of high-quality human resources on the basis of enhancing training and skills development for workers, meeting the requirements of the digital economy and Industry 4.0. Focus on developing key industries with competitive advantages such as electronics, information technology and agricultural processing. Promote international cooperation, expand partnerships with large corporations, attract foreign investment and participate in global supply chains.

Electronic components manufacturing at KHVATEC Thai Nguyen Company Limited (Yen Binh Industrial Park).

The province also agrees with the direction from the Central Government, economic growth must be fast but sustainable, inclusive, comprehensive, and inflation well controlled. It is necessary to balance and harmonize between implementing short-term growth targets with medium- and long-term development. Absolutely do not sacrifice progress, social justice and the environment in exchange for pure economic growth. In particular, the province requires all levels and sectors to take people and businesses as the center when implementing growth targets, implementing the motto "don't say no, don't say difficult, don't say yes but don't do".

With synchronous efforts and solutions, Thai Nguyen is gradually realizing the economic growth target of 10.5% in 2025 and maintaining double-digit growth in the following years. The determination and flexibility in direction and management, together with the consensus of the business community and people, will be a solid foundation for Thai Nguyen to develop sustainably in the future.