Positive growth, industry plays a key role

The processing and manufacturing industry continues to play a key role in the province's economic growth. Photo taken in 2024. Photo: THACO

According to the report of the People's Committee of Quang Nam province, the economic scale GRDP (at current prices) in the first quarter of 2025 is estimated at 27,600 billion VND, an increase of more than 1,900 billion VND over the same period in 2024. The total added value of the whole economy is estimated at 11,900 billion VND, an increase of 8.3%.

Of which, the industrial and construction sector increased by 10.1%, contributing the most to the overall growth, with more than 3.2 percentage points. The industrial production index (IIP) in the first quarter increased by 14.8%, a fairly high increase in the context of slow recovery of manufacturing industries in many other places.

In particular, the processing and manufacturing industry continued to play a key role with an increase of 11.8%. Some large enterprises such as Thaco, textiles, footwear, and electronics continued to maintain stable orders and expand production. Electricity production and distribution increased sharply by 20.6%, a bright spot in the industrial sector.

Electricity production and distribution is a bright spot in the industrial sector. Photo: PHAN VINH

However, the construction sector decreased by 5.1% compared to the same period, mainly due to a shortage of construction materials, difficulties in site clearance and the suspension of some public investment projects following the streamlining roadmap. Civil construction activities decreased sharply by 24.5%, dragging down overall growth.

The service sector grew by 8.1% in the first quarter. Trade, consumption, transportation, accommodation and catering, and financial services all recorded good growth.

Wholesale and retail sales increased by 7.2%; accommodation and catering services increased by 17.9%. In the first three months of the year, Quang Nam welcomed about 2.24 million visitors, up 10% over the same period last year, of which international visitors accounted for 1.725 million, up 11%.

Trade and consumption activities recorded a good increase. Photo: PHAN VINH

Revenue from tourism reached about VND 2,860 billion, up 26%, leading to social income from tourism reaching VND 6,721 billion. This is a positive sign showing that Quang Nam tourism is gradually recovering after a long period of being affected by the pandemic and global economic fluctuations.

Although its proportion in GRDP is not large, accounting for 12.3%, the agriculture, forestry and fishery sector still contributes significantly to the overall picture. In the first quarter of 2025, this sector increased by 4.1%, the highest increase in the past 3 years.

Agriculture increased by 4.9%; forestry increased by 6.1% thanks to the increasing demand for wood exports; and fishery increased by 1.4% thanks to stable exploitation and farming sources.

Total state budget revenue in the first quarter reached VND 5,412 billion, equal to 22% of the annual estimate. Of which, domestic revenue reached VND 5,373 billion, reaching 26% of the plan, a slight increase of 2% over the same period in 2024. Budget expenditure reached VND 6,542 billion, of which development investment expenditure reached VND 3,027 billion, equal to 56% of the estimate.

Provincial Party Secretary Luong Nguyen Minh Triet inspects a project using public investment capital that is behind schedule. Photo: PHAN VINH

However, the progress of public investment disbursement remains a "bottleneck". As of March 31, 2025, Quang Nam has only disbursed VND 690 billion out of the total public investment capital of more than VND 8,300 billion, reaching 8.3% of the capital plan assigned by the Provincial People's Committee and 9.7% of the capital plan assigned by the Central Government. The province has requested units to accelerate construction implementation, speed up procedures, and focus on key projects such as projects of Thaco, Nam Hoi An, Geleximco, etc.

Quang Nam province aims to achieve a 10% GRDP growth rate for the whole year of 2025. To achieve this, according to the provincial People's Committee, in the second quarter, it is necessary to drastically implement solutions to promote production and business, disburse public investment, and closely monitor the market situation, support businesses in accessing credit, and expand output.

In addition, the province will focus on reviewing plans, speeding up the progress of major public investment projects and national target programs, and continuing to promote the role of key industrial parks and dynamic regions.

In the first quarter of 2025, the total value added (VA) of economic sectors is estimated at 11.9 trillion VND, an increase of 8.3% over the same period last year. According to Mr. Le Quy Dat - Head of the Quang Nam Statistics Office, with an increase of 8.3% over the same period of the VA growth rate, Quang Nam ranked 24th out of 63 provinces and cities nationwide, ranked 4th out of 14 provinces in the North Central and Central Coast regions and ranked 3rd out of 5 provinces in the Central key economic region.
In terms of GRDP scale, Quang Nam ranks 32nd out of 63 provinces and cities nationwide, 8th out of 14 provinces in the North Central and Central Coast regions, and 4th out of 5 provinces in the Central key economic region (after Da Nang, Quang Ngai, Binh Dinh). (TRINH DUNG)

Source: https://baoquangnam.vn/kinh-te-quang-nam-quy-i-2025-tang-truong-tich-cuc-cong-nghiep-giu-vai-tro-chu-luc-3152036.html