Workers at a factory in the Tân Quang Industrial Zone in Hưng Yên Province. VNA/VNS Photo Đức Quang

 

Local governments in Việt Nam are altering their GRDP growth goals to meet or exceed a target set by the central Government aimed at driving an economic breakthrough this year.

 

According to the latest report from the Ministry of Finance, 23 localities have prepared growth scenarios for 2025 that surpass the baseline targets outlined in Resolution No 25/ND-CP, which set a national GRDP growth of at least 8 per cent.

 

Provinces like Quảng Ninh, Hải Dương, Bình Dương and Bà Rịa – Vũng Tàu have set their own targets that exceed these quotas by between 0.1 and 2.5 percentage points.

 

For instance, Hải Dương authorities said the northern province is targeting an 11 per cent increase in GRDP in Q1 2025, followed by 11.8 per cent, 13.7 per cent and 11.5 per cent in subsequent quarters.

 

Other localities are setting ambitious targets too: Yên Bái aims to exceed its quota by 2.3 percentage points, Thái Nguyên by 2 percentage points, Huế by 1.5 and Hưng Yên by 1.7 percentage points.

 

As secretary of Hải Dương's Provincial Party Committee Trần Đức Thắng noted, although the Government’s target for Hải Dương is 10.2 per cent, the province is determined to achieve 12 per cent growth.

 

Similarly, Vĩnh Phúc has set a target of 10–11 per cent growth, higher than the 9 per cent quota assigned by the Government.

 

Local authorities have reviewed input factors and adjusted their targets accordingly — for example, Tam Dương District raised its target from 6.2 per cent to 10 per cent, and Bình Xuyên District increased its goal from 13 per cent to nearly 15 per cent.

 

A report from the Ministry of Finance shows that all 63 centrally administered provinces and cities have developed GRDP growth scenarios by industry and economic zone, along with quarterly product tax revenue (net of subsidies).

 

Among these, 40 localities have received approval from their Provincial People’s Councils for targets that meet or exceed the Government’s quota, while the remaining 23 have adjusted their goals to align with the assigned targets. This indicates that local governments are now ready to implement the 'growth quota' strategy.

 

Last weekend, Deputy PM Nguyễn Chí Dũng led a Government working group in Phú Thọ to review its 2025 growth scenario and address obstacles in production, business, construction investment and public investment disbursement.

 

Phú Thọ was among the provinces whose GRDP targets fell short of the requirement. The province has now been tasked with achieving at least an 8 per cent growth rate, 0.5 percentage points above its previous plan.

 

According to Bùi Văn Quang, chairman of the Phú Thọ Provincial People’s Committee, to reach these targets, Phú Thọ will concentrate on three primary areas:

 

First, it will improve its investment and business environment by streamlining administrative procedures and mobilising resources for development.

 

Second, the province plans to accelerate public investment by fast-tracking key projects, such as the Lào Cai – Hà Nội – Hải Phòng rail link, the Phong Châu Bridge and the highway connecting Tuyên Quang with Phú Thọ.

 

Third, Phú Thọ aims to address production challenges and revive traditional industries, thereby supplementing its growth capacity.

 

Data from the Ministry of Finance showed Phú Thọ’s manufacturing index increased by 48.5 per cent in the first two months of 2025, a notable gain compared to figures in other provinces, although some regions like Hà Tĩnh and Cà Mau saw declines. VNS