"Contracting" growth to each locality creates both motivation and pressure for localities to make breakthroughs and contribute positively and effectively to the overall growth target of the whole country.
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| Localities “roll up their sleeves” to carry out the common mission of the whole country. Illustrative photo. (Source: heza.gov.vn) |
In early February 2025, the Government issued Resolution No. 25/NQ-CP (Resolution 25) for the first time to determine growth targets for each industry, sector and locality, thereby ensuring the national economic growth rate of 8% or more in 2025. The Resolution lays a solid foundation for achieving double-digit growth in the 2026-2030 period, demonstrating the Government's strong determination to realize this year's GDP growth target.
Pressure and motivation
According to Resolution 25, 18/63 localities were assigned by the Government with double-digit growth targets for Gross Regional Domestic Product (GRDP) and no locality grew below 8%. Some localities were assigned double-digit GRDP growth targets such as Bac Giang 13.6%, Hai Phong 12.5%, Quang Ninh 12%, Thanh Hoa 11%, Da Nang 10%. The two economic "locomotives" Hanoi and Ho Chi Minh City were assigned growth targets of 8% and 8.5% respectively.
The Resolution has been implemented in accordance with the direction of General Secretary To Lam that “locality decides, locality acts, locality takes responsibility” when clearly “contracting” the growth rate. This encourages and promotes localities in implementing and renewing economic development plans, thereby contributing to the overall growth of the country.
According to Associate Professor, Dr. Nguyen Thuong Lang, Senior Lecturer at the Institute of International Trade and Economics, National Economics University, “contracting” growth to localities is a good way, it is necessary to study new models and new ways of doing things that have never been done before. Resolution 25 shows the Government’s focus on further promoting the development of potential areas. Provinces and cities with development potential are encouraged to strive harder, contributing to the common goal of the whole country.
Sharing the same view, Dr. Le Duy Binh, Director of Economica Vietnam, emphasized that to increase national economic growth, it is necessary to start from each locality. Resolution 25 has clearly defined the responsibilities and specific goals for each locality, creating both motivation and pressure for them to strive for development, thereby effectively contributing to the common goal.
The growth target of each locality is determined based on the growth results in recent years and development potential in many aspects. According to the analysis of the Director of Economica Vietnam, provinces and cities such as Bac Giang, Ninh Thuan, Ninh Binh, Hai Phong, Quang Ninh... are assigned higher growth rates thanks to good preparation in terms of mindset, potential and investment projects. These localities have proactively promoted many important projects, at the same time making efforts to remove institutional bottlenecks, improve the business environment, attract domestic and foreign investment, create breakthrough momentum, and unlock resources for development.
Meanwhile, for Hanoi and Ho Chi Minh City, the economic scale is quite large compared to other localities in the country. When the scale is large, to achieve a high growth rate, a longer momentum is needed.
Dr. Le Duy Binh places his hopes on the two economic “locomotives” of the country and believes that if these two localities reach or exceed the growth rate of 8%, it will be an important foundation for the country's growth to reach its target.
Local consensus
Currently, localities have "rolled up their sleeves" to carry out the common mission of the whole country.
According to the Ministry of Finance's report, all 63 provinces and centrally run cities have developed GRDP growth scenarios this year. Of these, 40 localities have had their provincial People's Councils resolve to set GRDP growth targets equal to or higher than the targets assigned in Resolution 25. 23 localities have issued resolutions to adjust growth targets in line with the assigned targets. Hai Phong has set a growth target of 12.5%, determined to make a breakthrough this year. The city is focusing on attracting investment, especially in the 13,000-hectare Southern Coastal Economic Zone. At the same time, Hai Phong has committed to contributing VND11,000 billion to the Lao Cai - Hanoi - Hai Phong railway project, proposing to implement construction from both ends of the route (from Lao Cai and Hai Phong). Chairman of the Hai Phong People's Committee Nguyen Van Tung affirmed: "We can even grow at a higher level".
Meanwhile, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc also announced that although the Government assigned a growth target of 8.5% to Ho Chi Minh City, for the sake of the whole country, the core of the Southern key economic region strives to grow at least 10% in 2025.
Or with Hai Duong, Hai Duong Provincial Party Secretary Tran Duc Thang said that the province is determined to achieve a growth rate of 12%, higher than the 10.2% assigned by the Government. To achieve that result, the province has developed a growth scenario. 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.
Quang Ninh also “targets” a growth rate of 14%, 2% higher than the “contracted” level. The solution for the locality to achieve that goal is: Renewing traditional growth drivers, public investment and non-budgetary investment. In particular, identifying public investment as one of the most important drivers to promote economic growth with the motto of taking public investment as the leader, activating social investment; must complete the disbursement of 100% of the capital plan allocated for 2025 as soon as possible.
At the same time, focus on reviewing all bottlenecks and bottlenecks to completely resolve difficulties and obstacles, remove, unblock, and release all resources, seize opportunities, and maximize potentials, advantages, and development space.
| Resolution 25 shows the Government's focus on promoting the development of potential areas. Provinces and cities with development potential will be encouraged to strive harder to contribute to the common goals of the whole country. |
Focus on both quantity and quality
The determination and "thoroughness" of localities with the task of "pulling" the growth of the whole country has been clearly demonstrated. However, in the context of "big waves and strong winds" at home, in the region and internationally, experts say that localities need to focus on reform, innovation, finding breakthrough solutions, and taking advantage of each place's advantages to improve economic efficiency.
Associate Professor, Dr. Nguyen Thuong Lang suggested that localities should think about the potentials that can be exploited within the national vision. “In the coming time, we need to decentralize management, reduce administrative procedures and create conditions for localities to maximize their available potential. Exploiting the resources and creativity of each locality will promote economic growth, contributing to narrowing the development gap between regions,” Mr. Lang affirmed.
Associate Professor, Dr. Dinh Trong Thinh, Senior Lecturer at the Academy of Finance, noted that the “contracting” of growth must focus on both quantity and quality. There needs to be inspection and supervision, especially regarding the growth quality of each locality.
Only then will the overall growth results of the economy change. The transformation of the local economy will create a strong driving force for the Vietnamese economy to reach the 8% growth rate this year.
Source: https://baoquocte.vn/xay-nen-vung-chac-cho-tang-truong-307564.html
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