Nghe An remains committed to its GRDP growth target of 10.5%.

Adjust targets for subsequent quarters to achieve results.

In the first quarter of 2025, the Gross Regional Domestic Product (GRDP) is estimated to reach 8%, lower than the level needed to ensure the average target for 2025. However, the province has decided not to adjust the growth target but to focus on accelerating growth in subsequent quarters.

The Department of Finance, in coordination with the Nghe An Provincial Statistics Office and relevant departments and agencies, has reviewed and adjusted the growth scenario for the second quarter and remaining quarters of 2025, aiming to ensure the annual growth target of 10.5%. Specifically: Q2 growth is projected at 10.25%, Q3 at 11.18%, and Q4 at 12%. On average, each quarter represents an increase of approximately 0.23% compared to the initial scenario.

Nghe An has many strengths to steadfastly pursue its growth targets: In the last two years, Nghe An has consistently been among the leading localities nationwide in attracting foreign direct investment (FDI).

In 2023, the province attracted $1.603 billion in FDI, surpassing the $1 billion mark for the first time and ranking 8th nationwide. In 2024, Nghe An continued to set a new record with nearly $1.75 billion in FDI, with the participation of major technology corporations such as Foxconn, Luxshare, Goertek, Everwin, and Juteng, creating more than 86,000 jobs.

In the first quarter of 2025, FDI reached US$111.9 million, with the highlight being the upcoming VSIP Nghe An 3 project with an investment of US$52.5 million, further affirming the attractiveness of the Southeast Economic Zone for investment.
In terms of infrastructure, key projects such as the North-South expressway and the 500kV circuit 3 power line have been completed, increasing connectivity capacity and unlocking economic potential.

This is a crucial foundation for promoting industrial zones and enhancing access to domestic and international markets.

Regarding information infrastructure and digital transformation: The province has strongly implemented digital transformation in management and administration, creating favorable conditions for people and businesses, contributing to shortening processing times and improving the investment environment. This is an important factor that helps Nghe An attract more investment and improve management efficiency.

There are still challenges.
Although Nghe An's total state budget revenue in 2024 reached VND 25,096 billion, exceeding the forecast by 55.9%, challenges remain due to its heavy reliance on land use fees (accounting for 42.7%). State budget revenue in the province during the first four months of the year reached VND 8,980 billion, achieving 50.7% of the forecast and 105.6% of the same period in 2024. Local budget expenditure is estimated at VND 16,218 billion, reaching 38.6% of the forecast.

This leads to difficulties in long-term financial planning and limits the ability to invest in development. Several key projects are still facing land acquisition issues, such as the coastal road, the upgrading of National Highway 46, and the upgrading of National Highway 7...

In addition, although the disbursement rate of the 2025 plan is higher than the national average, it is still lower than the same period in 2024 (22.56% / 24.12% in the same period).

Another challenge is that, despite being a key area for attracting investment, factories currently lack both unskilled and highly skilled labor.
Mr. Ma Zhi Hua, Human Resources Director of Everwin Precision Technology Co., Ltd., stated: To date, the company has recruited 2,000 workers out of a total of 15,000. By the end of 2025, the company aims to recruit another 1,000 to reach 3,000, including 2,500 Vietnamese workers. Currently, the company has completed phase 2 of its investment and is constructing phase 3, therefore still needs to recruit a large number of workers. The company hopes that the authorities at all levels will provide solutions to support the recruitment of workers in order to effectively utilize the production lines.

Solutions to achieve growth targets

To achieve the planned growth target for 2025, the People's Committee of Nghe An province has directed various sectors and localities to implement several key solutions:

Accordingly, sectors and localities will continue to review and reassess the results achieved in the first quarter and April; closely follow the adjusted growth scenario and propose specific solutions to direct the acceleration and synchronized, effective implementation of key tasks in May and the second quarter of 2025, with the determination to achieve the 2025 growth target of 10.5%.

Strengthen and enhance the effectiveness of the five working groups established by the Provincial People's Committee to promote growth in various sectors and fields. Proactively work with localities, investors, and businesses to promptly identify and resolve difficulties and obstacles in order to strongly promote production and business activities in the province.

The government is resolutely implementing the reorganization of administrative units at all levels and establishing a two-tiered government system; promptly deploying directives from the Central Government, the National Assembly, the Government, and the Prime Minister regarding the reorganization of the administrative apparatus. In addition, it is proactively reviewing and thoroughly preparing the necessary conditions to ensure the smooth and efficient operation of agencies and units. It is also reviewing, inventorying, and managing public assets, unused land and buildings, and surplus land and buildings after mergers, ensuring compliance with legal regulations.

Directing departments, agencies, district-level People's Committees, and investors to review files and documents, compile lists, and propose plans for handing over and receiving the management of public investment programs, tasks, projects, and plans. Handling state finances and budgets when reorganizing administrative units at all levels and building a two-tiered local government organizational model.

Implement decisively and effectively solutions to accelerate the disbursement of public investment capital; strengthen inspection, supervision, and work with investors to resolve difficulties and obstacles, especially for projects with slow disbursement and large capital plans. Ensure the progress of key projects and works as concluded by the Standing Committee of the Provincial Party Committee in Notice No. 1789 dated April 23, 2025. Perform well in budget revenue and expenditure; thoroughly save on budget expenditures, especially recurrent expenditures; strengthen expenditure control to ensure spending is correct, sufficient, and effective.

Implement comprehensive solutions to significantly improve the investment and business environment in a decisive and effective manner. Focus on supporting projects scheduled to become operational in 2025, especially FDI projects in the Southeast Economic Zone. Accelerate the completion of procedures to implement key projects: Cua Lo deep-water port, Vinh airport, and the Quynh Lap LNG project. Currently, working groups of the Provincial People's Committee are regularly monitoring the situation and advising on solutions.

Nghe An province continues to vigorously implement the program to mobilize support for building and repairing houses for the poor and those with housing difficulties, ensuring that the set schedule is met.

Continue to promote administrative reform, review, reduce, and simplify administrative regulations and procedures, ensuring a reduction of at least 40% in processing time for citizens and businesses; implement the plan for implementing Resolution No. 57 of the Politburo on breakthroughs in the development of science, technology, innovation, and national digital transformation. Continue to meticulously prepare the contents for organizing Party congresses at all levels for the 2025-2030 term. Strengthen measures to ensure fire safety during the hot season and direct summer-autumn production in 2025.

Mr. Nguyen Viet Hung, Deputy Director of the Department of Finance, stated: "The growth target is very high. To achieve the set target, the Finance sector has advised the Provincial People's Committee to adjust the growth scenario for the remaining quarters, proposed solutions for managing revenue sources, increasing revenue, saving on expenditures, and disbursing public investment. We are also coordinating with relevant units to prepare the necessary conditions to ensure that agencies and units operate smoothly and efficiently after the restructuring..."