Unlocking financial resources, towards growth pole
In the strong flow of innovation and integration, the whole country is entering a new stage of development with the aspiration to become a modern industrial nation by 2030. In line with that spirit, Nghe An sets the goal of becoming a growth pole, playing the role of a driving force in the North Central region. To realize this aspiration, creating sustainable financial resources and timely advising on breakthrough policies are considered key factors.
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In the strong flow of innovation and integration, the whole country is entering a new stage of development with the aspiration to become a modern industrial nation by 2030. In line with that spirit, Nghe An sets the goal of becoming a growth pole, playing the role of a driving force in the North Central region. To realize this aspiration, creating sustainable financial resources and timely advising on breakthrough policies are considered key factors.
Hai Hoang• October 1, 2025
In the 2021-2025 period, despite facing the pandemic, geopolitical and global economic fluctuations, Nghe An still maintained an average GRDP growth rate of 8.3-8.5%, higher than the national average; economic scale increased 1.7 times compared to 2020; budget revenue ranked 16th, number of operating enterprises ranked 15th out of 34 provinces and cities. In 2024, the total budget revenue of the whole province exceeded 23,000 billion VND, creating important room for infrastructure investment and social security programs. Entering 2025, the revenue growth momentum continues to strengthen confidence in the possibility of a breakthrough.
However, compared to the leading localities, Nghe An still has many gaps. The province's GRDP per capita is currently only more than half of the national average. Labor productivity is not high, while more than 97% of enterprises are small and micro enterprises, making it difficult to create a big breakthrough. The development gap between mountainous and delta areas is still significant. After the administrative unit arrangement process, the rankings in terms of area and population have also changed, requiring acceleration and comprehensive innovation. This context requires creative and drastic financial solutions to unlock development resources.
Faced with intertwined opportunities and challenges, Nghe An Department of Finance has identified its core task as providing timely and creative advice to the Provincial Party Committee and Provincial People's Committee on financial and budgetary mechanisms and policies, ensuring resources for the high growth target in the 2026-2030 period. The role of the Department of Finance is as the province's "financial architect", both managing the budget effectively and proactively proposing bold initiatives to mobilize maximum social resources.
In 2 years (2024-2025), the Department has advised on flexible and focused budget management, giving strong priority to development investment, especially strategic infrastructure projects such as the North-South Expressway, coastal roads, upgrading Vinh International Airport, Cua Lo Deepwater Port or Quynh Lap LNG Project, Vinh - Vientiane Expressway... proactively and resolutely implementing the proposed tasks and solutions; promptly advising on economic policies, important advice on the cultural - social fields and other fields. At the same time, the Department closely coordinated with departments, branches and localities to develop a medium-term financial - budget plan for the period 2026-2030 in a sustainable direction: Increasing the proportion of development investment expenditure, gradually reducing regular expenditure, creating room for dynamic projects. The implementation of Resolution No. 137/2021/QH15 on specific mechanisms and policies has also been promoted, opening up great opportunities to attract investment in the fields of high technology, renewable energy and supporting industries.
To achieve the goal of becoming a national growth pole, comrade Trinh Thanh Hai - Member of the Provincial Party Committee, Director of the Department of Finance said: We propose groups of breakthrough solutions:
Firstly, complete the planning and expand the development space. Together with the sectors, the Department advises on adjusting the Provincial Planning for the period 2021-2030, with a vision to 2050, rearranging the development space based on two driving forces: Vinh Urban Area and the Expanded Southeast Economic Zone. At the same time, forming satellite growth poles, connecting the Thanh Hoa - Nghe An - Ha Tinh coastal economic corridor, the high-speed railway axis and the Vinh - Thanh Thuy expressway. This will be a new industrial - service "belt", raising the position of Nghe An in the North Central region and the whole country.
Second, mobilizing and unleashing all investment resources. The Department of Finance plays a key role in advising on mechanisms and policies for diverse capital mobilization: Budget, private sector, FDI, ODA, public-private partnership. At the same time, the Department reviews and removes bottlenecks in disbursement, promotes progress of key projects; encourages the development of the capital market, ensures continuous and effective investment flow. In particular, selectively attracting FDI associated with technology transfer, forming production chains of electronic components, high-tech industry, smart agriculture and forestry are considered important levers.
Third, improve the investment environment and enhance competitiveness. Realizing that business health is the strength of the economy, the Department advises on policies on taxes, fees, and credit to create a fair and transparent business environment, encourage startups, and develop large enterprises as locomotives. This agency also focuses on connecting domestic enterprises with the FDI sector, supporting participation in the global value chain, gradually forming a strong business ecosystem with national brands.
With the target of GRDP growth of over 12%/year in the period 2026-2030, Nghe An is facing great opportunities but also many challenges. The Department of Finance is determined to continue to comprehensively innovate public financial management, promote digital transformation in budget revenue and expenditure, and apply big data to improve transparency and reduce social costs. At the same time, the Department proactively advises on policies to develop new economic models such as digital economy, green economy, circular economy and sharing economy - important drivers for sustainable growth in the transition era.
With high political determination, consensus of the whole system and strong aspirations of Nghe An people, the Finance sector is expected to continue to be creative and decisive in performing its tasks. The effective advisory role and breakthrough financial solutions will contribute to making Nghe An a new growth pole of the country, contributing significantly to the common goal of making Vietnam a developed and prosperous country by the middle of the 21st century.
