Localities under pressure to accelerate as Việt Nam sets growth quotas

Localities under pressure to accelerate as Việt Nam sets growth quotas

“Localities must achieve higher growth rates than those set in Resolution No. 25/NQ-CP, especially those serving as growth engines of the country,” Minister of Finance Nguyễn Văn Thắng said.

Máy Chai Bridge in Hải Phòng city is inaugurated on August 19 — VNA/VNS Photo

The Government has finalised growth quotas for provinces and cities in the second half of 2025 to lift the country's GDP expansion to 8.3–8.5 per cent for the whole year, requiring localities to take drastic actions to complete the set targets and tasks.

“Localities must achieve higher growth rates than those set in Resolution No. 25/NQ-CP, especially those serving as growth engines of the country,” Minister of Finance Nguyễn Văn Thắng said.

Among 34 provinces and cities following recent administrative mergers, eight were tasked with achieving double-digit growth in 2025. Quảng Ninh was assigned to obtain the highest growth of 12.5 per cent, followed by Hải Phòng (12.2 per cent), Bắc Ninh (11.5 per cent) and Ninh Bình (10.6 per cent). Phú Thọ, Huế, Quảng Ngãi and Cần Thơ were assigned to reach a growth rate of 10 per cent.

Most of others must deliver 8–9 per cent growth.

Two 'locomotives' – Hà Nội and HCM City – were allocated 8.5 per cent growth; Thanh Hóa, Nghệ An and Đà Nẵng 9 per cent; Tây Ninh 9.3 per cent; Hà Tĩnh 8.7 per cent; Khánh Hòa 8.5 per cent; and Hưng Yên 9 per cent. Only Lai Châu, Điện Biên, and Lâm Đồng are set at 7.5 per cent.

At the government's meeting for July, Prime Minister Phạm Minh Chính urged localities to quickly devise growth scenarios. To reach 8.5 per cent nationally, Hà Nội must expand 9.3 per cent in the second half and HCM City has to reach 10.3 per cent.

For those with double-digit targets, the challenge is greater – Quảng Ninh must grow 13.9 per cent, Hải Phòng 13.1 per cent, Bắc Ninh 12.4 per cent, Ninh Bình 10.4 per cent and Cần Thơ 11.9 per cent.

Some provinces are aiming beyond their assigned goals. Though set at 8 per cent, Thái Nguyên targets 8.5 per cent growth. Its plan projects third-quarter growth of 10.2 per cent and fourth-quarter growth of 10.4 per cent, bringing second-half expansion to 10.3 per cent.

To spur growth, Thái Nguyên will accelerate public investment disbursement – at least 75 per cent by the end of Q3 and 95 per cent by year-end, striving for 100 per cent, local leaders said. The province also aims to attract US$4.6 billion in foreign investment to boost industry and exports.

Hải Phòng expects to exceed its quota. Chairman of the municipal People’s Committee Lê Ngọc Châu forecast third-quarter growth at 13.92 per cent and full-year expansion at 12.35 per cent, surpassing the 12.2 per cent target.

Quảng Ninh has pledged to fully disburse public investment this year while speeding up key transport projects such as the riverside road linking the Hạ Long–Hải Phòng expressway to Đông Triều and upgrades to National Highway 279.

Growth boost from projects

On Tuesday, 250 projects were simultaneously inaugurated or launched across 34 provinces and cities, with combined investment of VNĐ1.28 quadrillion ($48.73 billion).

Deputy Minister of Construction Lê Anh Tuấn said these projects could contribute more than 18 per cent of the country's GDP in 2025 and over 20 per cent in subsequent years.

Quảng Ninh alone inaugurated or broke ground for 50 projects worth more than VNĐ135 trillion, including 14 state-funded and private sector-financed works and 22 new investment commitments exceeding VNĐ110 trillion. Provincial leaders called them key drivers of socio-economic growth.

In Hải Phòng, nine projects were launched, including Máy Chai bridge, Đồng Việt bridge approach roads, and new T2 terminal at Cát Bi International Airport, which will raise capacity to five million passengers annually.

“These projects will not only improve infrastructure and social services but also create fresh momentum for growth and urban expansion,” a city leader said.

Hà Nội and HCM City also began major works.

At the groundbreaking for the VNĐ11.8 trillion Ngọc Hồi bridge, chairman of the Hà Nội People’s Committee Trần Sỹ Thanh said the project will enhance connectivity with neighbouring provinces such as Hưng Yên, helping the city to obtain growth above 8 per cent in 2025 and double digits in coming years. 

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