Nghe An province will not adjust its 10.5% growth target for 2025.

On the morning of April 9th, Comrade Nguyen Duc Trung, Secretary of the Provincial Party Committee, chaired the regular March meeting of the Provincial Party Standing Committee.

Attending the session were comrades: Hoang Nghia Hieu - Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council; Le Hong Vinh - DeputyDeputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; Vo Thi Minh Sinh - Deputy Secretary of the Provincial Party Committee, Chairwoman of the Provincial Fatherland Front Committee, Head of the Provincial Delegation of National Assembly Deputies;Tran Duc Thien - Deputy Head of Department III, Central Inspection Commission;together with comrades in the Standing Committee of the Provincial Party Committee and leaders of the Provincial People's Committee, and relevant departments and agencies.

Nghe An province's GRDP in the first quarter ranked 27th nationwide.

At the meeting, the Standing Committee of the Provincial Party Committee listened to and commented on the Report on economic growth in the first quarter of 2025 presented by the Party Committee of the Provincial People's Committee.

According to the Provincial Party Committee and People's Committee, the socio-economic development situation in Nghe An province in the first quarter achieved positive results; basically, all sectors maintained a fairly strong growth momentum compared to the same period last year.

The province's GRDP growth in the first quarter is estimated at 8.0% (ranking 5th out of 14 localities in the North Central and Central Coastal regions and 27th nationwide), higher than the growth rate in the first quarter of 2024 (which was only 6.91%) and the highest first-quarter growth rate in the last 5 years.

The industrial production index (IIP) for the first quarter is estimated to have increased by 10.74%; of which manufacturing increased by 10.41%, and mining increased by an estimated 20.62%.

The construction sector, with numerous FDI projects currently underway or already in operation, investing in factories and machinery, achieved a growth rate of 10.88%, higher than the 7.36% growth rate of the same period in the first quarter of 2024.

State budget revenue in the province during the first quarter reached 6,311 billion VND, achieving 35.6% of the provincial People's Council's projected target, and equaling 99.9% of the same period last year.

In the first quarter, the province approved investment policies for 10 projects with a total investment of VND 2,223 billion, and adjusted 38 projects. The total newly registered and increased investment capital was VND 6,719.6 billion, of which FDI capital reached USD 111.9 million.

According to estimates from the Ministry of Finance, Nghe An's public investment disbursement in the first quarter reached 17.18%, ranking 14th out of 63 provinces and cities, higher than the national average (9.53%). The province saw the establishment of 573 new businesses and the resumption of operations of 254 businesses.

Based on the results of the first quarter, the Provincial Party Committee and People's Committee forecast that, in order to achieve the 10.5% growth target for the whole year, approximately 11.13% growth is needed in the remaining nine months of 2025. Specifically, growth in the second quarter is 10.22%, the third quarter is 11.17%, and the fourth quarter is 11.96%, averaging about 0.2% more per quarter than the initial scenario.

Maintain the growth target of 10.5% for 2025.

Concluding this discussion, Provincial Party Secretary Nguyen Duc Trung acknowledged that the province's growth results in the first quarter were very positive, reflecting the efforts of the Provincial People's Committee in directing and managing the economy. However, the growth rate did not reach the target set in the scenario (8.85%).

Sharing the difficulties faced by the Provincial People's Committee in the coming period, especially in the second quarter when implementing the policy of rearranging and reorganizing administrative units at all levels, building a two-tiered government model, organizing Party congresses at all levels, and the difficult context of the global situation impacting industrial production, exports, and employment in the province, the Provincial Party Secretary highly appreciated the proactive leadership and guidance of the Standing Committee of the Provincial People's Committee in identifying key tasks and solutions for the coming period.

Despite facing many difficulties and challenges, Provincial Party Secretary Nguyen Duc Trung affirmed that the guiding principle of the Provincial Party Standing Committee at this time is that the province will maintain its 10.5% growth target for 2025 as stipulated in Government Resolution 25. He requested the Standing Committee of the Provincial People's Committee to review and reassess the quarterly growth scenario to ensure its suitability and maintain the stance of not adjusting the 2025 growth target.

This includes a thorough analysis and assessment of factors impacting the achievement of growth targets, particularly the influence of US tariff policies, in order to propose appropriate and effective solutions.

Proactively and focusedly direct the implementation of the rearrangement and reorganization of administrative units at all levels and the construction of a two-tiered local government organizational model, ensuring that the requirements of the Central Government regarding content and time are met, without affecting overall work, without causing interruptions, without affecting the service to the people, and meeting the requirements of businesses in their production and business activities.

Provincial Party Secretary Nguyen Duc Trung also requested the Standing Committee of the Provincial People's Committee to focus on leading and directing the effective implementation of public investment disbursement tasks, and to promptly complete the allocation of public investment capital assigned for 2025 to achieve the disbursement target, thereby contributing to the growth rate.

At the same time, we must strengthen leadership in administrative reform, improve the investment and business environment, and create the most favorable conditions for people, businesses, and investors in the best, fastest, and most convenient way.

In addition to traditional growth drivers and solutions, Provincial Party Secretary Nguyen Duc Trung also suggested researching new growth drivers.

Continue to focus on directing social welfare work, especially the program to support the construction and repair of houses for people with meritorious services, poor households, and households facing housing difficulties, with a decisive spirit to ensure the goal of completing the program before July 31, 2025.