Vietnam is entering 2025 with ambitious economic growth projections, setting its goal at achieving at least 8% growth this year, following sound strategies to increase revenue and improve local economic conditions. Authorities are determined to mobilize resources and implement thorough strategies across various sectors.
Khanh Hoa province is at the forefront of efforts to boost its economic performance. By February 27, 2025, the province reported state budget revenues reaching 5,006 billion VND, which accounts for 20.77% of estimates. Local revenues were particularly promising at 4,728 billion VND or 22.04% of projections, driven mainly by production, trade, and tourism activities.
For 2025, the province has been tasked with achieving 24,100 billion VND in state budget revenues, with local revenues set at 21,450 billion VND and import-export earnings at about 2,650 billion VND. Such targets necessitate swift and comprehensive actions to facilitate smooth operations for businesses—a strategy aimed at maximizing state revenues.
The local government managed to exceed its budget revenues for 2024, rising 22.5% above estimates, thanks to effective measures for revenue collection. Authorities are focusing on various solutions to create favorable conditions for businesses, thereby ensuring economic growth.
On February 26, at the 44th meeting of the provincial People’s Committee, Trang Thi Huan, Deputy Chairperson of the Committee, emphasized the importance of having high political determination and concerted efforts from the entire political system to reach the economic growth target of 8% or greater for the upcoming year. The meeting gathered members of various provincial committees and government bodies to discuss strategies and share performance indicators.
February’s local budget income was projected around 4,804 billion VND as evaluations indicated the economy’s steady growth. Specifically, expenditures amounted to roughly 283,802 billion VND, translating to 4.5% of the capital plan and 5.4% of the detailed capital plan. The number of tourists visiting Son La province also showed promise, with about 820,000 tourists bringing estimated revenue exceeding 960 billion VND.
Key discussions during the meeting focused on expediting public investment capital for major projects as well as approving several important plans and decisions necessary for ensuring strong economic development. Certainly, the path forward demands rigorous efforts from all sectors involved.
Continued investments are necessary to construct core infrastructure capable of supporting industrial development and urbanization. The area must also work on enhancing the investment environment and improving its competitiveness—goals underscored by Nguyen Van Ut, regional leaders, who commit to reviewing capital allocation and deploying resources effectively.
Long An province has also highlighted economic strategies for 2025, marking it as critically significant to successfully implementing the five-year socio-economic development plan from 2021 to 2025. This year is characterized by initiatives aimed at enhancing foundational factors and creating momentum for new opportunities to thrive.
The province has proposed numerous solutions aimed at fulfilling leadership directives to bolster economic growth efficiently. To manage this, the Provincial Planning and Investment Department—led by Director Truong Van Lieu—has called for joint efforts among departments and local authorities. Emphasis is placed on timely capital disbursement for development programs.
With plans to maintain the top rank nationally for Competitive Index (PCI), efforts continue to innovate investment support strategies targeted toward attracting major technology partners and enhancing production quality. The province is determined to fulfill its target of 10-11% economic growth by 2025, outlining five strategic groups: effective economic restructuring, improving investment environments, establishing efficient management systems, strengthening security, and ensuring social stability.
Meanwhile, significant drives are needed to forge partnerships, solidify supply chains for agricultural production, and bolster the promotion of local products. Agriculture plays a pivotal role, especially as initiatives streamline modern distribution channels for clean and safe agricultural goods. This sector is actively monitored to eliminate obstacles faced by agricultural clusters, aiming for high rates of occupancy and production turnover.
For the construction sector, strategic branding of products within Long An province is underway, focusing on logistical development and infrastructure, which is tantamount to fostering modern trade forms aligned with national development objectives. Efforts to simultaneously kickstart local market projects are complemented by directed consumer campaigns promoting domestic goods.
Labor and employment dynamics are intimately connected to the province’s growth targets, with local leaders collaborating to prioritize readiness for dual-digit growth. The future is defined by strategic agility, focusing on adaptive measures to cope with shifts and trends within the broader economic milieu.
Regions like Duc Hoa have shown commendable progress, achieving near positive growth rates, and generating significant revenue for the state budget. Proactive responses within the local governance sector aim to maintain this momentum and meet upcoming socioeconomic challenges head-on.
The roadmap for successfully achieving revenue goals by 2025 centers on increasingly tight coordination, capable resource allocation, and substantive public and private engagement. Long-term efficacy hinges on collective determination, setting precedence for how regional economies can adapt and thrive amid fluctuative trends.
Vietnam's restructured growth model prioritizes sustainability, thereby aiming to attain maximum outputs from investments projected over the next five years. Sustained commitment to innovation, inclusive governance, and targeted economic policies illuminate the way, setting Vietnam on course for its ambitious growth aspirations.