Dak Nong economy in 2024

In 2024, despite facing many difficulties and challenges, Dak Nong's economic indicators are still high, creating development momentum for 2025.

In 2024, Dak Nong's economic situation will continue to remain stable. Many targets will be achieved and exceed the set plan. Typical of these are the retail sales of goods and service revenue.

Retail sales of goods and services in Dak Nong in 2024 will reach 26,000 billion VND

Total revenue of this sector in 2024 will reach nearly 26,000 billion VND, exceeding the set plan, up nearly 18% over the same period in 2023.

During the year, the commodity market situation was stable, meeting people's shopping needs. Commodity prices fluctuated little, circulation was smooth, there was no unreasonable price increase, affecting consumers. In addition, the prices of some agricultural products increased, contributing to increasing people's income. From here, people's shopping and consumption needs increased.

The export sector also recorded good growth. In 2024, Dak Nong's export turnover reached 1,012 million USD, meeting the plan, up 15% over the same period in 2023.

Dak Nong's business investment environment has been improved, creating favorable conditions for business development.

The work of improving the investment and business environment and enhancing provincial competitiveness continues to be carried out by all sectors and localities. The Provincial People's Committee has resolutely and promptly issued documents directing the main tasks and solutions to improve the business environment.

Thanks to that, the investment environment has been improved, and businesses' trust in Dak Nong government has been enhanced.

Currently, many businesses operating in the field of mineral and bauxite mining have come to learn and discuss with the province. Although the investment policy has not been officially approved, the possibility of success is very high.

The transport infrastructure sector has also achieved many results. In 2024, the whole province invested in building about 196km of roads, increasing the asphalt ratio from 70% to 72.5%. With this result, Dak Nong is confident of surpassing the resolution set forth in this field.

traffic — In 2024, the whole province will invest in building about 196km of roads, increasing the asphalt ratio from 70% to 72.5%.

Another happy achievement for Dak Nong is that the Gia Nghia (Dak Nong) - Chon Thanh (Binh Phuoc) Expressway Project has been approved by the National Assembly. Currently, the Prime Minister has directed the two provinces of Binh Phuoc - Dak Nong to coordinate closely. In 2025, the two provinces strive to start construction of this expressway. If construction starts quickly, it will speed up the capital disbursement progress and promote many other sectors to accelerate.

To achieve this result, right from the beginning of the year, all levels and sectors of the province focused on removing many barriers. Difficulties and obstacles in project investment, production and business activities were also promptly addressed and resolved by the locality.

Assessing the targets achieved by Dak Nong in 2024, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee Ho Van Muoi affirmed that there has never been a year with difficulties piling up like 2024. The prolonged difficulties of 2023 have not been resolved, Dak Nong is facing new difficulties.

Thanks to the efforts of the government, the people, and the participation of departments, branches, and units, many economic targets of Dak Nong have exceeded the plan. Some important targets were not completed, but the province has strived for the highest level.

“With the participation of all levels, sectors and units, we can still have a basically stable 2024. Although there are still some subjectivity, delays and reminders, we still try to complete the assigned tasks at the highest level. This will be the premise for us to perform better in 2025,” emphasized Chairman of the Provincial People's Committee Ho Van Muoi.

2025 is the final year to implement the Resolution of the 12th Dak Nong Provincial Party Congress, term 2020-2025. This is a key year, deciding the socio-economic targets of the province.

Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee Ho Van Muoi grasps the production and business activities of enterprises at Tam Thang Industrial Park, Cu Jut district (Dak Nong)

In the context of the economic situation forecast to continue to change rapidly and unpredictably, Dak Nong has been posing challenges. To achieve the economic development target in 2025 and complete the plan for the period 2021-2025, Dak Nong needs to identify and propose strategies and solutions for synchronous implementation.

Dak Nong is focusing on localizing the supply chain of industries to reduce dependence on imported machinery and equipment.

In particular, departments, branches and localities identified bottlenecks to focus on solving. Many areas need to be clearly identified to focus on solutions such as: budget collection, planning implementation, investment capital disbursement, etc.

Departments, branches and localities report to the Provincial People's Committee on their plans and strategies for implementing their units' planning. Based on the general planning, any difficulties should be reported immediately to the Provincial People's Committee.

Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee Ho Van Muoi affirmed that his term ends in 2025. There is not much time left to complete the economic targets for 2025 in particular and the 2021-2025 period in general.

From now on, departments, branches, units and localities should develop programs and plans for their units. Weekly, monthly and quarterly, review the difficulties and obstacles in the implementation process to work together to resolve them.

“Where there is difficulty, we will solve it. Now there is not much time left, we have no way back. The difficulties and problems of Dak Nong that are at the central level have been solved and are being solved. We all join hands to achieve the best results in 2025”, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee Ho Van Muoi directed.

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In 2024, Dak Nong's GRDP only reached 4.18%, 2.37 percentage points lower than the plan. The province's total social investment capital was only VND 19,030 billion, reaching 95%. By the end of 2024, Dak Nong's budget revenue was about VND 2,950 billion, reaching 89% of the plan.

Regarding solutions to implement economic targets in 2025, Director of the Department of Planning and Investment, Tran Dinh Ninh emphasized that Dak Nong will focus on implementing many solutions. The province will utilize all resources to implement the targets. Departments, branches, and units will focus on completing their tasks soon.

img_0465 (1) — Processing fruit using freeze-drying technology at Thinh Phat Macadamia Sachi Import-Export Trading Co., Ltd., Gia Nghia City

In addition to the province’s efforts, Dak Nong hopes that central ministries and branches will give priority and pay attention to removing difficulties and obstacles for the locality, especially problems related to mineral planning and bauxite planning.

The Central Government needs to prioritize policies on resources and investment in socio-economic infrastructure, especially inter-regional and key transport infrastructure, so that Dak Nong in particular and the Central Highlands region in general can develop...