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Dong Nai Strives for Double-Digit Economic Growth

With high determination, the government, citizens, and business community have successfully revitalized Dong Nai's economy, achieving remarkable growth in 2024. Building on this success, the province aims to establish a “double-digit" growth trajectory for 2025 and beyond. 

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Dong Nai aims for double-digit economic growth by 2025. 

Chairman of Dong Nai Provincial People's Committee, Mr. Vo Tan Duc, stated that to achieve a high-income status for its citizens by 2030 and a very high-income status by 2045, Dong Nai's economic growth rate must consistently reach double digits in the coming years. Specifically, beginning in 2025, the province needs to prioritize growth, targeting an annual GRDP increase of approximately 12.4% to set the momentum for achieving its 2021–2030 development goals.

Accordingly, all levels, sectors, and localities within the province are required to adopt an innovative mindset, demonstrate strong determination, make great efforts, and take decisive actions. Implementation must be timely, flexible, and effective, with the spirit of "accelerating, making breakthroughs" and "only discussing progress, not setbacks." A series of key solutions have been proposed to create an economic "boost" to achieve the "double-digit" growth target as directed by the Prime Minister.

High, Comprehensive Economic Growth
According to the Dong Nai Statistics Office, the Gross Regional Domestic Product (GRDP) of the province in 2024 is estimated to reach over VND 260,200 billion, an increase of 8.02% compared to the same period in 2023. This growth rate exceeds the original target set for the year of 6.5-7% and is significantly higher than the 5.41% growth rate of the previous year.

All five economic indicators surpassed the targets set by the Dong Nai Provincial People's Council Resolution for 2024. These include: Economic growth rate (GRDP), per capita income, export turnover, total social development investment capital, and state budget revenue.

A deeper look into the growth results reveals that the agriculture, forestry, and fishery sector grew by 3.53%; the industry and construction sector increased by 9.5%; the services sector rose by 5.5%; and product tax grew by 7.07%. Notably, the construction sector achieved a significant growth rate of 17%, driven by major projects such as the Long Thanh International Airport and Nhon Trach 3 and 4 power projects currently under construction.

The province's recent efforts to innovate its growth model continue to promote the economic structure's shift in the right direction. Agriculture, forestry, and fishery account for 9.4%; industry and construction account for 58.0%; services account for 24.7%; and product taxes (minus product subsidies) represent 7.9%.

Accordingly, the industrial production index in this industrial hub of the country recorded substantial growth in key sectors, with an overall increase of 8.2% compared to the same period last year.

Besides the primary contribution from the manufacturing and processing industry, which currently accounts for 90% of the total industrial sector structure, several other key industries achieved notable production index growth rates. These include food processing and manufacturing, tobacco, textiles, garments, leather and related products, chemicals, pharmaceuticals, medical chemicals, and medicinal materials, as well as furniture (beds, cabinets, tables, chairs). Many businesses secured new production orders, with significant growth in quantities during the final months of the year.

In agricultural production, Dong Nai focuses on developing organizational production models aligned with the restructuring of the agricultural sector. The province actively promotes the expansion of organic farming models, the application of high technology, and timely support for businesses and farmers in establishing planting area codes and packaging facilities for export purposes.

Thanks to proactive initiatives in connecting agricultural product consumption within the province, Dong Nai has obtained 18 planting area codes and 7 packaging facility codes for bananas and durians exported to China. Cumulatively, the province now has 189 export planting area codes covering nearly 28,000 hectares and 93 packaging facilities granted codes for export to markets such as China, the United States, Europe, Australia, and New Zealand. The province has also developed three livestock zones in Tan Phu, Long Thanh, and Xuan Loc districts to meet export conditions, along with two cooperative models for organic pig farming in Dinh Quan district.

Regarding the service sector, restructuring industries based on the foundation of modern industry and digital technology has led to notable changes in scale and form. Service types such as transportation, telecommunications and information technology, finance, banking, and tourism have contributed to increasing the value-added contribution of the sector to the overall economic growth structure of the province. 

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Provincial Party Secretary Nguyen Hong Linh and Vice Chairman of the Provincial People's Committee attending the 2024 Culture and Cuisine Week 

Dong Nai Province welcomed 3.4 million visitors this year, marking a 26% increase and generating revenue of 2.4 trillion VND, a significant 40% rise compared to the same period in 2023. This progress is a direct result of the government's efforts in implementing the specialized resolution of the Dong Nai Provincial Party Committee to develop tourism as a key economic sector.

The spirit of self-reliance, resilience, and creativity in production, coupled with continuous improvements in productivity and service quality towards sustainable development, has coincided with a vibrant export market. Particularly, the export of agricultural products has seen a notable growth, with the prices of cashew nuts, coffee, and pepper rising sharply due to high demand from major markets such as the U.S. and the EU. As a result, Dong Nai's export turnover for 2024 is estimated to exceed 23.4 billion USD, reflecting an 8.5% increase year-on-year.

The import turnover is approximately 16.7 billion USD, marking a 7.2% increase compared to the same period last year. Consequently, the province enjoys a trade surplus of about 6.7 billion USD, a record high.

This robust economic growth provides a solid foundation for easing state budget collection pressures, eliminating the previous year's frantic end-of-year "sprint" to meet targets. Through decisive measures implemented from the beginning of the year, Dong Nai is highly likely to surpass the revenue targets set by the central government.

The estimated total state budget revenue is around 58.625 trillion VND, achieving 104% of the estimate and 101% compared to the previous year. This includes domestic revenue of approximately 40.125 trillion VND, reaching 105% of the estimate and 99% of the same period last year; and export-import revenue of about 18.500 trillion VND, attaining 104% of the estimate and 105% year-on-year. This achievement is commendable, especially in the context of declining revenues from several main commodity groups due to the government's VAT reduction policies and decreased import duties on certain items.

Notably, the total social development investment in Dong Nai for 2024 is estimated at approximately 126.6 trillion VND, surpassing the resolution target by 15.16% year-on-year. This increase is attributed to a significant economic recovery; improved business operations, with companies expanding their facilities and investing in fixed assets. Furthermore, the province is continuing to construct major national projects or large-scale developments such as Long Thanh International Airport, Nhon Trach 3 Gas Power Plant, and various housing projects.

Along with efforts to boost economic growth, the provincial Party Committee and government prioritize improving the quality of life for residents, establishing specific and practical criteria. As a result, the average income per capita is expected to reach 148.9 million VND per person in 2024 (equivalent to 5,868 USD), exceeding the resolution target.

A prime example of social welfare achievements and income improvement for local residents is Dong Nai's firm position among the leading provinces in the national new rural construction program. This year, it is projected that 5 more rural areas will achieve enhanced new rural status, alongside 7 exemplary rural communes (surpassing the resolution target). Additionally, the documentation for two districts (Dinh Quan and Thong Nhat) to be recognized as enhanced new rural districts is being finalized. By the end of 2024, the province is expected to have 106 out of 116 communes achieving enhanced new rural status and 33 out of 116 achieving exemplary new rural status, with one enhanced new rural district (Xuan Loc). 

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Long Thanh Airport Passenger Terminal Construction Being Accelerated 

Determination to Achieve Double-Digit Growth
Domestic investment and foreign direct investment (FDI) in Dong Nai are experiencing a strong resurgence, providing a solid foundation for the province's goal of reaching double-digit economic growth by 2025. The province aims to attract approximately 130.7 trillion VND in domestic investment in 2024, which is 10.5 times higher than the same period in 2023. As of November 20, there are 1,105 active domestic investment projects with a total capital of about 450.9 trillion VND.

As for FDI, by November 20, the province has attracted 1.418 billion USD, an increase of 34% compared to the same period last year. Currently, there are 1,685 active FDI projects with a total capital of 35.15 billion USD. Newly attracted projects mainly focus on sectors such as semiconductor manufacturing, electrical and electronic components, and machinery production, which promise to bring significant added value to the province in the future.

Chairman of the Dong Nai Provincial People's Committee, Vo Tan Duc, emphasized the consistent approach of "the government accompanying businesses," combined with a focus on implementing the provincial planning for the 2021-2030 period, with a vision toward 2050. Key national projects such as Long Thanh International Airport, the Bien Hoa-Vung Tau expressway, the Ben Luc-Long Thanh expressway, the Dau Giay-Tan Phu expressway, with a total length of over 280 km passing through the province, as well as Ring Road 3 and Ring Road 4, are currently being vigorously developed. These projects are expected to provide significant momentum and opportunities for breakthrough development and transformation of Dong Nai's socio-economic structure.

To enhance its attractiveness for investment, especially for large-scale international projects, Dong Nai is accelerating the development of a synchronized transportation infrastructure system and a skilled labor force to proactively create a development space that meets the demands of the future.

All efforts are directed toward the ultimate goal of ensuring a prosperous and happy life for the people. Specifically, the province aims for an average economic growth rate of over 12.4% per year during the 2025-2030 period, with an average income per capita reaching 330 million VND (equivalent to 14,650 USD) by 2030.

Author: Thien Vuong Source: Nhan Dan Newspaper

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