Accelerate the implementation of "growth contracts"

Localities are making efforts to develop GRDP growth scenarios to be able to implement the “growth quota” assigned by the Government. All for the sake of the economic breakthrough in 2025.

Van Vina's factory in Tan Quang Industrial Park (Hung Yen). Photo: Duc Thanh

Local acceleration

Not only Quang Ninh or Bac Giang as mentioned, but also 23 localities have developed GRDP growth scenarios for 2025, with growth rates 0.1-2.5 percentage points higher than the "growth target" assigned by the Government in Resolution No. 25/NQ-CP on growth targets for sectors, fields and localities, ensuring the national growth target for 2025 reaches 8% or more.

Among these, according to the report of the Ministry of Finance, there are some leading localities, which have made great contributions to the country's GDP growth, such as Quang Ninh (2 percentage points higher), Hai Duong (1.8 percentage points higher), Binh Duong (0.5 percentage points higher), Ba Ria - Vung Tau (0.1 percentage points higher)...

Several other localities also strived to achieve higher levels than the tasks assigned by the Government. Yen Bai set a target of 2.3 percentage points higher, Thai Nguyen 2 percentage points higher, Hue 1.5 percentage points higher, Hung Yen 1.7 percentage points higher...

"The government assigned the province a GRDP growth target of 10.2%, but Hai Duong is determined to achieve a growth rate of 12%," said Hai Duong Provincial Party Secretary Tran Duc Thang.

To achieve this figure, a growth scenario has been developed by Hai Duong province. Accordingly, in the first quarter of 2025, GRDP growth will be at 11%; then growth will be 11.8%; 13.7% and 11.5% respectively in the remaining quarters of the year.

Similarly, Vinh Phuc has set a growth target of 10-11% for 2025, higher than the “growth target” assigned to the province by the Government (9%). “The main growth driver of Vinh Phuc continues to be the industrial sector, with a growth target of 12% to 14.5-15.5% (of which industry will increase by 15-16%). The service sector has also adjusted its target higher, from 9% to 10-11%,” said Tran Duy Dong, Chairman of Vinh Phuc Provincial People’s Committee.

According to Mr. Tran Duy Dong, not only the sectors and fields, but also the localities in the province have reviewed the input factors and adjusted the growth target. For example, Tam Duong district adjusted from 6.2% to 10%, Binh Xuyen district from 13% to nearly 15%...

Currently, according to the report of the Ministry of Finance, all 63 provinces and centrally-run cities have developed GRDP growth scenarios by level 1 industry and 3 economic sectors and product taxes minus product subsidies on a quarterly basis.

Of these, 40 localities have had their GRDP growth targets decided by the provincial People's Council equal to or higher than the target assigned in Resolution 25/NQ-CP, so there is no need to issue a resolution to adjust the target. Meanwhile, 23 localities have had their GRDP growth targets decided by the provincial People's Council lower than the target assigned in Resolution 25/NQ-CP, but to date, all have issued resolutions to adjust the growth target in line with the assigned target.

Thus, all localities are ready to implement "growth contracts".

“Growth Contracting” to Make the Economy Breakthrough

Last weekend, Deputy Prime Minister Nguyen Chi Dung led a Government delegation to work with Phu Tho province on the implementation of the 2025 growth scenario; solutions to remove difficulties for production - business, construction investment and disbursement of public investment capital in the province.

To boost growth, Hai Duong has planned to increase the growth rate of the industrial sector to 14.8%, with the operation of 81 projects outside industrial parks, 52 projects inside industrial parks, accelerating the progress of 131 projects under implementation, and handling 87 slow-progressing projects. At the same time, it will increase investment attraction, including the goal of attracting 1 billion USD of foreign investment capital.

Phu Tho is one of the localities whose People's Council has decided that GRDP growth in 2025 will be lower than the target assigned by the Government. The Government assigned this province to grow by 8% or more, 0.5 percentage points higher than the plan set by the province.

According to Mr. Bui Van Quang, Chairman of Phu Tho Provincial People's Committee, after receiving the Government's assignment, the province has reviewed new resources, motivations, and capacities for growth and has developed growth scenarios for each quarter, 6 months, 9 months, and the whole year. "The review results show that the growth target of over 8% is well-founded and highly feasible. Phu Tho is confident that it can achieve this target," said Mr. Quang.

To achieve this growth, Phu Tho has identified three main groups of tasks and solutions. These are to focus on improving the investment and business environment, promoting the mobilization of resources for development investment; increasing the mobilization of capital for public investment, and at the same time coordinating to implement key projects in the province, such as the Lao Cai - Hanoi - Hai Phong railway project (with 60 km passing through the province), Phong Chau bridge, the Tuyen Quang - Phu Tho expressway connection project, etc.

In addition, Phu Tho determined to focus on removing difficulties for production, restoring traditional industries, supporting projects under investment to complete and put into operation soon to add new capacity for growth, striving for the processing and manufacturing industry to increase by 12% in 2025.

According to data from the General Statistics Office (Ministry of Finance), Phu Tho is one of the localities with a high growth rate of the production index of the processing and manufacturing industry in the first two months of the year. The increase in Phu Tho was up to 48.5%. This figure in Bac Kan was 41.4%; Bac Giang 26.8%; Thanh Hoa increased 19.9%; Quang Nam increased 19.5%.

On the contrary, many localities had a production index of the processing and manufacturing industry in the first two months of 2025 that decreased compared to the same period last year. Of which, Ha Tinh decreased by 11.1%; Ca Mai decreased by 4.6%, Quang Ngai decreased by 0.5%...

Industrial production, especially processing and manufacturing, has long been the driving force for GRDP growth in localities as well as the whole country. However, there are still localities where industrial production value is decreasing.

According to the General Statistics Office, in the first two months of 2025, the industrial production index compared to the same period last year increased in 58 localities and decreased in 5 localities nationwide. Ha Tinh, Ca Mau, Bac Lieu, Gia Lai, Ba Ria - Vung Tau are localities with decreased industrial production index. This will certainly affect the GRDP growth of the localities in particular and the whole country in general. The main solution is to continue to remove difficulties for production and business, promote growth and development.

Promoting public investment disbursement is also the solution chosen by most localities nationwide to bring GRDP growth to the target level assigned by the Government. When localities accelerate, the economy will break through.

Source: https://baodautu.vn/tang-toc-thuc-hien-khoan-tang-truong-d251475.html