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Unlocking Trade Potential: Nghe An’s Soaring Exports Reach $2.33 Billion Landmark in Seven Months

7 August, 2025

The provincial people’s committee of Nghe An reported a IIP (Index of Industrial Production) increase of an estimated 20.64% in July compared to the same period last year, with a cumulative increase of 15.77% over the past seven months.

Mining and quarrying industries saw an increase of 18.3%, while the manufacturing industry rose by 14.61%. The electricity, gas, steam, and air conditioning supply sector witnessed a significant surge of 27.3%. Additionally, the water supply, waste, and wastewater treatment industry experienced a healthy increase of 10.11%.

International trade remains a bright spot, with export turnover in July reaching an estimated $350 million. The cumulative export turnover for the first seven months was $2.33 billion, a substantial increase of 32.69% compared to the same period last year. Import turnover for July reached $250 million, with a cumulative total of nearly $2 billion for the first seven months, representing a remarkable 49.93% increase year-on-year.

BUDGET REVENUES REACH 87.7% OF THE ESTIMATE

Total retail sales of consumer goods and services in July were estimated at VND 14,369 billion, a 13.37% increase compared to July 2024. The cumulative total for the first seven months reached over VND 102,227 billion, up by 14.8%.

The tourism industry has also seen a notable recovery. In July, the province welcomed approximately 1.25 million visitors, including 810,000 staying guests and over 6,100 international visitors. Total tourism revenue was estimated at VND 4,011 billion, with tourism service revenue reaching VND 1,572 billion.

For the first seven months of the year, Nghe An welcomed approximately 7.45 million visitors, with total tourism revenue estimated at VND 22,855 billion, a 6% increase compared to the same period in 2024. Tourism service revenue reached VND 8,879 billion.

Director of Nghe An Department of Finance, Trinh Thanh Hai, speaks at the meeting

As of July 2025, total state budget revenue in the province was estimated at VND 15,553 billion, reaching 87.7% of the annual estimate and 112.8% compared to the same period in 2024. Local budget expenditure was estimated at VND 29,128 billion, achieving 69.1% of the estimate.

In terms of public investment disbursement, a total of VND 4,111.9 billion has been disbursed so far this year, accounting for 40.65% of the plan and 45.34% of the beginning-of-year plan. Specifically, the concentrated public investment source disbursed VND 1,665.5 billion, equivalent to 34.51% of the plan.

Several sources of capital have achieved fairly high disbursement rates, including the National Target Program for New Rural Development (76%), the National Target Program for Socio-Economic Development in Ethnic Minority and Mountainous Areas (46.55%), land use fees (60.18%), and lottery funds (45.63%).

However, the progress of disbursement for many projects remains slow due to the impact of the transition to a two-tier local government model. Some newly established regional project management units have not been fully organized, affecting the implementation of projects.

ATTRACTING INVESTMENT OF OVER 18,000 BILLION DONG

In the first seven months of the year, the province has approved investment policies or granted investment registration certificates to 47 projects, with a total investment capital of VND 7,675.8 billion. Additionally, there have been adjustments to 112 projects, including 33 capital adjustments with a total additional investment of VND 10,700.2 billion. The total investment capital for new and adjusted projects is VND 18,376 billion, equivalent to approximately 75.5% compared to the same period last year.

In terms of foreign direct investment (FDI), nine new projects have been licensed with a total registered capital of $94.2 million (accounting for 19.1% of the number of FDI projects and 31.1% of the capital). Additionally, nine projects have been adjusted with a total additional capital of $225.5 million. The total registered and adjusted FDI capital reached $319.7 million.

In July alone, 12 new projects were approved/granted investment registration certificates with a total capital of VND 933.8 billion, and 14 projects were adjusted (including six capital adjustments) with a total additional capital of VND 2,420.7 billion.

Efforts to connect labor supply and demand and create jobs have been consistently implemented. In the first seven months of the year, the province is estimated to have created jobs for approximately 27,800 laborers, achieving 60.43% of the annual plan.

At the same time, support activities for people affected by floods in the western region of Nghe An province are being promoted. As of August 4, the province has received more than VND 127.6 billion in registered sponsorship (including cash and goods). The People’s Committee of Nghe An province has allocated VND 205 billion from the budget reserve to support local governments.

Regarding the operation of the two-tier local government model, the province has dispatched working groups led by provincial leaders to inspect the situation in the communes and wards. Departments and branches have been assigned to closely monitor the situation and promptly handle any issues that arise to ensure the smooth operation of the new apparatus.

However, the impact of Tropical Storm No. 3, along with heavy rains and rising floodwaters, has caused severe damage in the western region of Nghe An province. There were four deaths and four injuries, and more than 7,500 houses were collapsed, buried, washed away, or heavily damaged.

Numerous transport, irrigation, school, and medical facilities were washed away, collapsed, or severely damaged, with initial damage estimated at over VND 3,546 billion. The production and business activities of enterprises in many localities have also been affected and faced with numerous difficulties.