Economic objectives depend on powerful regional entities to meet 2025 benchmarks
Vietnam's economic growth continues to thrive, with numerous regions and sectors reporting impressive results. Let's take a closer look at the latest developments.
In August, Bac Ninh took the lead as the country's top exporter, with an export value of nearly $8.7 billion—a significant 33% increase year-on-year. Meanwhile, other major economic centres, such as Ho Chi Minh City, Haiphong, and Ninh Binh, also reported inspiring results.
Haiphong, in particular, saw its state budget revenue grow by nearly 30% year-on-year, reaching approximately $5.27 billion, and its Index of Industrial Production (IIP) rose by 14.5%. The city has set a growth target of 12.35%, higher than the allocated 12.2%.
Ho Chi Minh City, which continues to play a significant role as a national growth driver, saw its IIP growth for the eight-month period increase by nearly 6%. The city's export value for the same period was $61.2 billion, marking a 6.35% increase year-on-year.
The manufacturing sector in An Giang saw a 13.9% rise, while its tourism sector skyrocketed by 76%. Lam Dong in the Central Highlands region sustained stable growth, with exports up 64.7% year-on-year.
Phu Tho, another rising star, not only led in IIP growth but also recorded strong Foreign Direct Investment (FDI) inflows with 39 new projects. The province aims for 10.3% growth, exceeding its 10% government target. Phu Tho's focus will be on key pillars such as attracting investment, accelerating infrastructure projects, developing green and sustainable agriculture, and applying advanced technologies.
The Ministry of Finance (MoF) has noted encouraging signs in the national economic landscape over the first eight months of 2025. Dong Nai and Da Nang both aim for 10% growth, exceeding their respective targets of 8.7% and 9%. Dong Nai attracted over $2 billion in FDI and saw the establishment of 4,971 new businesses.
Da Nang remained a major tourism magnet with 12.8 million tourist arrivals over eight months. Hanoi's tourism sector also recorded a strong recovery, with 3.18 million visitors in August alone.
In the north, Quang Ninh aims for a GRDP growth of 14%, higher than the assigned 12.5%. Hung Yen province launched three major development projects worth over $720 million.
A forum was held in Hanoi to discuss energy development and economic growth. The province of Tuyen Quang is preparing a strategic development plan aiming for significant socio-economic progress and higher income by 2030 and 2045, implying ambitious regional goals within a long-term framework.
With hundreds of projects under construction, the nation hopes these will be a major propellant for national economic growth this year. The economic resilience and growth across the country are a testament to Vietnam's continued progress and potential for future success.
