Top Provinces with the Highest Revenue in Vietnam
According to the People’s Committee of Quang Ngai province, in 2024, despite facing many unexpected challenges, the province’s growth rate remained higher than the set target, with 25/25 economic targets achieved and exceeded. This indicates that the province has a lot of potential for further development. The achievements of 2024 extended the impressive growth performance of Quang Ngai province in the 2021-2024 period. Especially during this period, the state budget revenue in the province is estimated at VND 117,893 billion, equivalent to 108.4% of the 5-year plan for 2021-2025 (the plan assigned VND 108,798 billion). On average, Quang Ngai collects nearly VND 81 billion per day, ranking among the top provinces with the highest revenue in the country.
A corner of Dung Quat Port, Quang Ngai. Photo by Ngoc Toan
Based on the results of the implementation of the Socio-Economic Development Plan for 2024, taking into account the actual situation of production and business activities, the investment environment, opportunities, advantages, and limitations, as well as challenges, Quang Ngai has proactively built and selected a growth scenario for 2025 to strive to complete the targets of the Development Plan for 2025 and the entire 2021-2025 period.
According to the Socio-Economic Development Plan for 2025 of Quang Ngai province, the estimated value of agricultural, forestry, and fishery production will increase by about 3.5%; oil output is expected to be about 7 million tons (the same as in 2022), and steel output is expected to be about 6.8 million tons (including the Hoa Phat Dung Quat Steel Complex Project – Dung Quat 2 is expected to operate the test run of line 1 in early 2025 with an output of about 1.33 million tons, equivalent to 50-60% of the expected output – about 2.336 million tons).
With this scenario, the growth rate of Gross Regional Domestic Product (GRDP) in 2025 is expected to reach 7.5 – 8.5%. Per capita GRDP is about USD 4,710; the proportion of industry – construction and services in GRDP accounts for about 71 – 72%, of which industry – construction accounts for about 46 – 47%.
Quang Ngai needs to renew its sources of economic growth
Social labor productivity increases by 7.5 – 8.5%; capital investment realized in the province reaches about VND 38,000 – 39,000 billion; the urbanization rate reaches 40%. At the same time, the province aims to achieve the Central Government’s and the Provincial People’s Council’s assigned state budget revenue target and strives to exceed the target by 5%. The province’s poverty rate is expected to decrease by 2.21%; in particular, the rate in mountainous areas is expected to decrease by 11.07%, and in plain areas by 0.35%.
Outstanding Efforts
At the 29th meeting of the 13th Quang Ngai Provincial People’s Council, Mr. Nguyen Hoang Giang, Chairman of the Provincial People’s Committee, stated that the tasks set for Quang Ngai province in 2025 are very challenging. The province has to carry out two tasks simultaneously, namely striving to complete the goals and targets of the Socio-Economic Development Plan for 2025 and the 2021-2025 period.
Regarding the Socio-Economic Development Plan for 2025, the Central Government assigned a revenue target of VND 31,950 billion to the province, much higher than in previous years and an increase of 25.7% compared to the assigned target for 2024 (VND 25,420 billion). This target is 8.3% higher than the actual revenue in 2024, while oil prices are currently lower than the Central Government’s assigned oil price (USD 80/barrel). This is a challenging target, but also a motivation for the province to strive to achieve it.
Therefore, the People’s Committee of Quang Ngai province has proposed stable growth scenarios and continues to make efforts, with the highest determination and resolute actions. The province promotes a strong spirit of self-reliance and self-improvement, along with a strategic and breakthrough vision, building on past achievements while overcoming difficulties and limitations to accomplish the set goals and targets.
The Art of Drafting: Crafting a Compelling Title for “Finalizing the Draft Decree on Policies for Officers during the Streamlining of Apparatus”
According to Minister Pham Thi Thanh Tra, regarding policies for officers, civil servants, and public employees in the context of organizational restructuring, the Ministry of Home Affairs has finalized the draft decree. The decree has been reported to the Party Committee and the Government’s Steering Committee for a report to the Politburo in the nearest time.
“Motorcycle Emissions Testing to Begin in 2025”
The inspection procedure for motorcycle emissions will adhere to the Environmental Protection Law. As the timeline for implementation is yet to be decided, the inspection of motorcycle emissions will not come into force on January 1, 2025, as initially planned.
The Power of Persuasive Writing: “ADB Ups Vietnam’s Economic Growth Forecast”
Vietnam’s growth forecast has been revised upwards to 6.4% from the previous estimate of 6.0% for 2024, and to 6.6% from 6.2% for 2025. These upward revisions reflect the country’s strong economic fundamentals and promising prospects for the future. With a robust growth trajectory, Vietnam is poised to continue its remarkable development journey, attracting global attention and solidifying its position as a rising star in the region.
Supplementing VEC’s Charter Capital: What Did Deputy Prime Minister Ho Duc Phoc Have to Say?
On the afternoon of December 10th, at the Government Headquarters, Deputy Prime Minister Ho Duc Phoc had a working session with the Vietnam Expressway Corporation (VEC), the State Capital Management Committee, and relevant ministries and sectors. The discussion focused on two key agenda items: exploring options to supplement VEC’s chartered capital and determining the timeline for repaying the principal and interest of VEC’s government-guaranteed bonds.
The Vietnamese Economy’s Robust Growth “Remains on Track”
According to Professor Hal Hill, Vietnam will soon become a “high-income economy” – something that would have been unimaginable in the late 20th century.
