Vietnam’s Youngest Centrally Governed City Sets New Growth Record, Exports Hit Billion-Dollar Milestone in Less Than a Year

Recently, the People’s Committee of Hue City held its regular September meeting to assess the economic and social development achievements in September and outline key tasks and solutions for the fourth quarter. The meeting was chaired by Nguyen Van Phuong, Deputy Secretary of the City Party Committee and Chairman of the People’s Committee of Hue City.

During the meeting, La Phuc Thanh, Director of the Department of Finance, reported that despite the challenges associated with the newly implemented two-tier local government model, the city’s economy and society have shown significant positive outcomes, thanks to decisive and flexible leadership.

Notably, the GRDP for the first nine months is estimated to grow between 9.7% and 10.2%, the highest in many years. The tourism sector welcomed nearly 5 million visitors, a 67% increase compared to the same period last year, generating over 9.6 trillion VND in revenue. Industrial growth reached 17.5%, with remarkable surges in products such as automobiles (5.9 times higher), gloves (16 times higher), and electricity production (60% increase). Export turnover hit 1.13 billion USD, up 25.6%, while imports rose by 17.4%. Total retail sales and services reached nearly 48.85 trillion VND, a 14.7% increase.

Another highlight is the disbursement of public investment capital, which reached 74.3% of the plan, significantly higher than the national average of 46.3%. The city approved 40 new projects with a total registered capital of over 30 trillion VND, including 9 FDI projects. Additionally, several key projects received support to overcome obstacles and complete procedures for groundbreaking and inauguration during major events, such as the 50th anniversary of Hue’s liberation, the 80th anniversary of the August Revolution, and National Day on September 2nd. Currently, the city is focused on supporting the groundbreaking and inauguration of 6 projects to celebrate the 14th National Party Congress.

Director of the Department of Finance La Phuc Thanh stated that the total state budget revenue for the first nine months is estimated at 10,649 billion VND, equivalent to 83.5% of the estimate, 67.5% of the target, and a 22.1% increase compared to the same period last year. Budget expenditures are estimated at 11,949.9 billion VND, equivalent to 75.9% of the estimate…

During the discussion on the socio-economic situation at the meeting, local representatives highlighted several challenges that need to be addressed. These include inconsistencies in determining household populations for project-related support, delays in processing land-related documents, and complex administrative procedures that require timely review and adjustment. Additionally, there were suggestions to enhance policies supporting and motivating staff at the Administrative Center, develop a shared database, address infrastructure limitations, and strengthen disease control to ensure stable livelihoods and production for residents…

In his directive at the meeting, Chairman of the People’s Committee of Hue City Nguyen Van Phuong acknowledged and praised the efforts of departments, agencies, and localities over the past period. He urged all units to continue their resolute, coordinated, and effective efforts in addressing challenges and obstacles.

Emphasizing that the fourth quarter is the “final stretch” and crucial for achieving the 2025 targets, the Chairman of the People’s Committee affirmed that the focus is on maintaining a growth rate above 10% as per Resolution 226/NQ-CP of the Government.

To this end, the city will prioritize the efficient operation of the two-tier local government model, expedite the completion of regulations on the functions and tasks of specialized agencies, and assign staff to wards and communes. It will also accelerate the groundbreaking and inauguration of major projects to celebrate Party Congresses at all levels, resolve difficulties for industrial production, and support businesses.

Chairman of the People’s Committee of Hue City Nguyen Van Phuong also emphasized the importance of preparing for rainy and stormy weather, strictly addressing traffic safety violations, and focusing on disbursing public investment capital, especially for key projects. The city is committed to strengthening budget revenue and expenditure management and ensuring absolute security for major political and social events, particularly the 17th Hue City Party Congress.

“The city is fully committed and will make every effort not only to meet but exceed the 2025 development targets, laying a solid foundation for the new phase,” Chairman of the People’s Committee of Hue City emphasized.