Nghe An does not adjust the 10.5% growth target for 2025

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

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

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

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

According to the Provincial Party Committee, the socio-economic development situation in Nghe An province in the first quarter achieved positive results; basically all sectors maintained a good growth momentum compared to the same period.

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 Coast regions and 27th nationwide), higher than the growth rate in the first quarter of 2024 (the first quarter of 2024 only reached 6.91%) and is the highest growth rate of the first quarter in the past 5 years.

The index of industrial production (IIP) in the first quarter is estimated to increase by 10.74%; of which the processing and manufacturing industry increased by 10.41%, and the mining industry is estimated to increase by 20.62%.

The construction industry, with many FDI projects that are being and have been implemented to invest in factories and machinery, achieved a growth rate of 10.88%, higher than the 7.36% increase in the same period in the first quarter of 2024.

State budget revenue in the locality in the first quarter was 6,311 billion VND, reaching 35.6% of the estimate assigned by the Provincial People's Council, equal to 99.9% of the same period.

In the first quarter, the province approved investment policies for 10 projects with a total investment of VND2,223 billion, and adjusted 38 projects. The total newly granted and increased investment capital was VND6,719.6 billion, of which FDI capital reached USD111.9 million.

According to the Ministry of Finance's estimate, 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 whole province has 573 newly established enterprises, 254 enterprises returning to operation.

Based on the results of the first quarter, the forecast for the whole year, to achieve the growth target of 10.5%, according to the Provincial Party Committee, in the remaining 9 months of 2025, growth is needed at about 11.13%. Specifically, growth in the second quarter is 10.22%, the third quarter is 11.17% and the fourth quarter is 11.96%, an average increase of about 0.2% per quarter compared to the initial scenario.

Maintain 10.5% growth target for 2025

Concluding this content, Provincial Party Secretary Nguyen Duc Trung acknowledged that the province's first quarter growth results were very positive, demonstrating the efforts of the Provincial People's Committee in directing and operating. However, the growth rate has not yet reached the scenario target (8.85%).

Sharing the difficulties of the Provincial People's Committee in the coming time, especially in the second quarter when implementing the policy of rearranging and reorganizing administrative units at all levels, building a 2-level government model, organizing Party congresses at all levels and the difficult context of the world situation, affecting industrial production, export and employment activities in the province, the Provincial Party Secretary highly appreciated the proactive leadership and direction of the Standing Committee of the Provincial People's Committee Party Committee in identifying key tasks and solutions in the coming time.

Despite many difficulties and challenges, Provincial Party Secretary Nguyen Duc Trung affirmed that the guiding viewpoint of the Provincial Party Standing Committee at this time is that the province still maintains the growth target of 10.5% for 2025 according to Resolution 25 of the Government and requested the Standing Committee of the Provincial People's Committee to review and re-evaluate the growth scenario each quarter to ensure suitability, maintaining the viewpoint of not adjusting the growth target for 2025.

In particular, carefully analyze and evaluate factors affecting the implementation of growth targets, especially the impact of US tariff policies, to propose appropriate and effective solutions.

Proactively and focused on directing the implementation of the arrangement and reorganization of administrative units at all levels and building a 2-level local government organization model to ensure the requirements of the Central Government on content and time, not affecting common work, not allowing work to be interrupted, not affecting service to the people, and meeting the requirements of enterprises in 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 implementation of the task of disbursing public investment capital, promptly completing the allocation of assigned public investment capital for 2025 to achieve the disbursement target, thereby contributing to the growth rate.

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

Besides traditional growth solutions and drivers, Provincial Party Secretary Nguyen Duc Trung also proposed studying new growth drivers.

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

Pham Bang