Growth of 8% or more, easy or difficult?

Must increase 9.46% in the last months

Before the end of the summer tourist season, Dzo! Fest - Summer Beer Festival 2025, an activity within the framework of "Sport Festival 2025" organized by the Vietnam People's Public Security Sports Association at Novaworld Phan Thiet (Lac Long Quan Street, Tien Thanh Ward, Lam Dong) will take place from August 22 to 26. This festival is positioned as a meeting place for many prestigious beer and food brands, especially the participation of high-end craft beer brands, contributing to creating a unique culinary - entertainment event at Novaworld Phan Thiet.

This is considered the latest tourist attraction event in a series of events that will take place in the remaining months of 2025 with the hope of attracting more tourists to Lam Dong than planned. Tourism plays a decisive role in contributing to the province's service sector achieving an increase of 11.35% as per the GRDP growth scenario for the quarters of 2025, developed by the Provincial Statistics Office and sent to the Department of Finance on July 21, 2025. In fact, in the past 6 months, the service sector achieved a growth rate of 7.83%, so in the third quarter, the peak summer tourist season, according to the scenario, the above increase will be pushed up to 14.61%. However, in the last 6 months of the year, it will decrease slightly to around 14.5%.

This is the highest growth rate compared to the other two sectors: agriculture, forestry and fishery increased by 5.57%; industry - construction increased by 8.42%, of which industry is 7.03%. If the above growth rate of the three sectors is ensured, the province's GRDP growth in the last 6 months of the year will reach 9.46%. From here, there is hope to join the 5.97% growth rate in the first 6 months to create a GRDP growth of 8% for Lam Dong in 2025.

Therefore, the remaining time of 2025 is extremely important. And the GRDP growth rate in 2025 that Lam Dong must reach over 8% was determined by Provincial Party Secretary Y Thanh Ha Nie Kdam in a meeting to assess the socio-economic situation... held on August 1, which raised many issues. The most prominent is the determination to strive to achieve this growth rate, the general level of the whole country, because before the merger, the Government issued Resolution No. 25 emphasizing that the national growth target in 2025 must reach 8% or more...

The problem is that the operation of the two-level government is still initially confusing, while the socio-economic development context of Lam Dong is showing unfavorable factors. Is it difficult or easy to strive to achieve a growth rate of 9.46% in the remaining months to also achieve growth of 8% or more in 2025?

Have "savings"

A new challenge that few people expected in the first 6 months of this year but greatly affected the GRDP growth rate of Binh Thuan (previously) was the lower electricity production compared to the plan. Therefore, it dragged down the growth momentum of the general industry, despite the significant contribution of the processing and manufacturing industry. The problem revolved around the fact that the 4 factories at Vinh Tan Thermal Power Center were very large in scale, and at that time, they faced both general and specific difficulties, such as low load demand; unusual fluctuations in coal and DO oil prices; prolonged renovation of generators, incidents... causing a decrease in electricity output.

However, the last months of the year are often the time of accelerating production and business, so it is forecasted that electricity will be used a lot, and the electricity production of these factories will certainly increase. Specifically, the investor of Vinh Tan 4 and Vinh Tan 4 Thermal Power Plants has announced that in the last 5 months of 2025, the electricity production output of the two factories is estimated to be about 4,612 million kWh, bringing the output for the whole year of 2025 to 10,202 million kWh, reaching 89.24% of the plan. In that general context, other factories are the same, including renewable energy factories, so this challenge is expected to be resolved.

Therefore, the growth scenario solution recommended by the relevant authorities is to increase electricity output by about 4.5% compared to 2024, especially the Vinh Tan Thermal Power Plant in the blue sea area of Lam Dong. This means that in 2025, the electricity output will reach over 37,000 million kWh, of which the Binh Thuan area (formerly) alone must reach 31,000 million kWh.

At the same time, the scenario also proposes other solutions such as reviewing, supporting, removing obstacles and difficulties, urging to accelerate the progress of site clearance, investment in construction projects, infrastructure of industrial zones and clusters, especially industrial zones. In addition, creating favorable conditions, removing obstacles so that projects under investment and construction can come into operation on time. Monitoring and removing difficulties for export enterprises affected by the US's reciprocal tax policy. All of these include applying many ways to stimulate the processing and manufacturing industry in the province, which inherently has many favorable factors, to continue to grow.

In addition to emphasizing solutions to boost service growth through tourism stimulus to achieve revenue of over VND60 trillion, bringing total retail sales of goods and service revenue to over VND260 trillion; to ensure that agriculture, forestry and fishery continue to maintain growth, the relevant sector also outlined another very difficult solution. That is, it is necessary to speed up the implementation of key projects and works, works to welcome the Party Congress, creating a breakthrough for the province's economic development as well as creating momentum and spreading to other sectors for development.

Compensation and site clearance issues in many projects have made it impossible to speed up construction and disburse public investment as planned. Currently, Lam Dong has a disbursement rate lower than the national average. This is probably the challenging situation of Lam Dong after the merger. Therefore, in the past few days, provincial leaders have continuously made field trips to inspect, find causes and direct the removal of obstacles and difficulties as well as urge the completion time of projects. With the requirement of disbursement reaching 100% by the end of the year, the remaining months are also the golden time to speed up. During this process, public investment capital will play the role of "seed capital", stimulating the development of other industries, most specifically construction materials... That is the initial contribution to GRDP growth for the last months of 2025. Because according to the investment delay, it is only next year that projects will contribute to clear growth. So, it is like having "savings".

In addition, another important and decisive task is to focus on the 3 areas mentioned above to create a breakthrough. The province's plan is to have a dialogue with businesses in August, promote investment in October and many other activities. All of this requires the joint efforts, intelligence, and consensus to implement according to the functions and tasks of the sectors, establishments, and businesses... From here, there will be the right solution to the challenge of GRDP growth of 8% or more.