Quang Ninh (VNA) - In a bold economic push, the northern province of Quang Ninh has revised its 2025 growth target to an unprecedented 14%, surpassing the government-assigned goal by 2% and exceeding previous provincial forecasts.
This record-high target is expected to expand Quang Ninh’s economic scale to approximately 395 trillion VND (15.45 billion USD). Achieving it will demand maximum effort from the entire political system, businesses, and local communities, according to Secretary of the provincial Party Committee Vu Dai Thang.
A key driver of this ambitious growth plan is the upcoming commercial operation of the Thanh Cong Viet Hung Automobile Plant. Set to begin production in the second quarter of 2025, the facility is projected to roll out 20,000 vehicles in its first year. It has already completed trial assembly of its first Skoda cars.
The industrial-construction sector, along with manufacturing and processing industries, remains the province’s primary growth engines. The Thanh Cong Viet Hung Automobile Plant, along with its supporting industrial complex, is expected to play a crucial role in local economic expansion in 2025 and beyond. Ensuring the plant’s smooth launch is a key pillar in achieving the 14% growth target.
Another major pillar is coal production, a long-standing economic backbone of Quang Ninh. According to Permanent Vice Chairman of the provincial People’s Committee Vu Van Dien, the coal sector must produce approximately 41.3 million tonnes in 2025 to contribute to the province’s overall growth.
The province has committed to working closely with the coal industry to clear bottlenecks and lingering obstacles, including project implementation delays, mine expansion, and land clearance issues. To accelerate solutions, the provincial People’s Committee will establish a task force to coordinate with the sector to address key challenges.
Quang Ninh also pledges to support operational businesses in boosting value-added production while ensuring registered investors begin production on schedule. Major projects include manufacturing plants from Foxconn, Lite-On Technology Corporation, and TCL.
Attracting foreign direct investment (FDI) remains a priority, with Quang Ninh targeting 2 billion USD in 2025. The province will fast-track land clearance within industrial zones to secure space for new investment projects, focusing on capitalising on shifting global supply chains and attracting clean and renewable energy investments.
The construction, tourism, and services sectors are also expected to bolster growth. Quang Ninh is determined to remove investment barriers and accelerate the disbursement of over 120 trillion VND in total social investment capital for 2025. The province will intensify trade and investment promotion efforts, aiming to attract 20 million visitors and generate 55 trillion VND in tourism revenue./.
VNA
