Governor highly appreciates solutions implemented to promote economic growth in Vinh Long

Governor of the State Bank - Nguyen Thi Hong led the Government's working delegation to work and urge production and business activities and implementation of national target programs in Vinh Long in March 2025 - Photo: Duc Khanh

Vinh Long sets GRDP growth target of 8-8.5% in 2025

Mr. Dang Van Chinh - Permanent Vice Chairman of Vinh Long Provincial People's Committee reported on the situation of production and business, public investment, infrastructure construction and import and export in the locality in 2024 and recent years.

Accordingly, last year, the gross regional domestic product (GRDP) increased by 5.65%, reaching 100% of the targets set by the Provincial People's Council at the beginning of the year. The import-export economic sector had the strongest growth rate in Vinh Long in 2024 with an increase of 25.85%. Other sectors such as industry - construction, consumer services, agriculture, forestry and fishery, tourism... all recorded growth from 13.8-14.4%.

In 2025, according to the plan assigned by the Government and approved by the People's Council of Vinh Long province, the Provincial People's Committee, units and departments in the area, Vinh Long strives to increase GRDP from 8-8.5%. In particular, striving to strongly develop all sectors of the economy, including: agriculture, forestry and fishery; industry - construction; and trade and services.

According to the report of Vinh Long Provincial People's Committee, it is estimated that by the end of the first quarter of 2025, the GRDP of this locality will increase by nearly 8% over the same period; of which, the agriculture, forestry and fishery sector will increase by 3.2%; the construction industry will increase by 17.41% and the trade and service sector will increase by 9%.

Vinh Long is recognized as one of the localities with strong growth in disbursement of public investment capital. By the end of 2024, the province had disbursed over VND 3,417.7 billion in public investment capital, supporting the completion of many key transport infrastructure projects at the provincial and regional levels in the Mekong Delta.

Regarding import and export activities, Vinh Long has also been assessed as a locality with a fairly strong export growth rate in recent times. By the end of 2024, the total export turnover of this province increased by 25.85% (reaching about more than 1 billion USD) while the overall export turnover growth of the whole country was about 14.3%.

Mr. Tran Tien Dung - Secretary of Vinh Long Provincial Party Committee spoke at the working session of the delegation. Photo: Duc Khanh

Businesses recommend the Government to remove difficulties and develop infrastructure

At the meeting, representatives of departments, branches, and business associations in Vinh Long province made many proposals and recommendations to remove difficulties in developing key infrastructure projects; promoting national target programs on sustainable poverty reduction, building new rural areas, eliminating temporary and dilapidated houses for the poor; developing social housing and promoting the transformation of agricultural and rural economic models.

The main difficulties raised by businesses and industry associations at the meeting were mainly related to the impacts of drought, saltwater intrusion, riverbank erosion, and climate change. In addition, the fragmented investment situation in many industries and fields also makes it difficult for the business community in Vinh Long to access preferential policies and priorities of the Government.

The People's Committee of Vinh Long province also proposed to remove some difficulties related to policies for implementing commercial housing projects, such as difficulties in implementing agreements to receive land use rights or having land use rights but that land is not residential land; preferential policies and incentives for investment in the field of power transmission...

In her concluding remarks at the meeting, Governor Nguyen Thi Hong highly appreciated the efforts of Vinh Long province in implementing solutions to promote socio-economic growth in 2025. The head of the Government delegation also welcomed the positive and proactive spirit of the People's Committee and departments in the province in determining specific goals such as striving to disburse 100% of public investment capital; having at least 12 new projects put into operation; having 100% of communes meeting new rural standards...

Regarding the proposals and recommendations of Vinh Long province, the Governor said that from 2024 to present, the locality has made 11 recommendations to the Government and relevant ministries and branches regarding the fields of investment and construction; credit and interest rate policies; tax, fee and charge policies; land use planning. All of these recommendations have been recorded and processed by the Central Government. Vinh Long also proposed a number of issues related to the policy of building commercial housing, social housing and investment procedures for power projects... As the Head of the Government's interdisciplinary working group, the Governor directed relevant ministries and branches to record and handle them according to their functions and tasks, removing difficulties for localities, businesses and economic organizations in the area.

Preferential credit disbursement with high proportion

According to statistics from the State Bank, by the end of February 2025, the total outstanding credit balance in Vinh Long province was estimated at VND 52,500 billion. Of which, credit for the agriculture, forestry and fishery sector accounted for about 27%; the trade sector accounted for about 64%.

Priority sectors are disbursed loans by credit institutions in the area with high proportions. Specifically: Disbursement of loans for agriculture and rural areas is 28,000 billion VND; disbursement of loans for small and medium enterprises is over 6,500 billion VND with nearly 1,000 enterprises.

To create better conditions for credit capital support for socio-economic development, support Vinh Long province in completing macroeconomic targets and developing industries and sectors with strengths. Governor Nguyen Thi Hong directed the State Bank of Vietnam, Region 14 Branch and credit institutions in the region to continue to coordinate well with local authorities, connect, record and remove difficulties in capital; grasp the production and business situation of economic organizations and enterprises in various industries in the area to expand credit growth, especially credit serving production, business, import and export.