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Solutions Discussed to Achieve Double-Digit Economic Growth

(News Portal – Dong Nai) - On the afternoon of February 17, Standing Deputy Secretary of the Provincial Party Committee Ho Thanh Son and Chairman of the Provincial People's Committee Vo Tan Duc chaired a conference titled "Prioritized Solutions for Achieving Double-Digit Economic Growth in 2025 in Dong Nai Province." 

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Chairman of the Provincial People's Committee Vo Tan Duc delivering concluding remarks at the workshop. 

The event was attended by Chairman of the Provincial People's Council Thai Bao, Chairman of the Vietnam Fatherland Front Committee of the province Cao Van Quang, provincial leaders, heads of departments, localities, as well as experts, scientists, organizations, and businesses investing in the province.

In 2024, Dong Nai's Gross Regional Domestic Product (GRDP) reached nearly VND 260.3 trillion, an increase of 8.02% compared to the previous year, making it one of the four provinces and cities with the largest GRDP in the country. The province's total state budget revenue in 2024 exceeded VND 62 trillion, maintaining its position as the sixth highest in the country. However, achieving a 10% economic growth rate in the context of numerous ongoing key projects and the development of economic growth hubs in Dong Nai remains a significant challenge. 

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Experts speaking at the workshop. 

Identifying and Overcoming Bottlenecks
According to Plan No. 49/KH-UBND issued by the province, which outlines prioritized tasks and solutions for achieving double-digit economic growth in 2025, one of the key focuses is identifying and addressing longstanding bottlenecks that have hindered social and economic development in Dong Nai.

Prominent among these issues is the prolonged low disbursement rate of public investment capital, which has failed to act as a catalyst for growth in other sectors, thereby limiting GRDP growth potential.

Additionally, the construction planning for four urban areas—Bien Hoa, Long Thanh, Nhon Trach, and Trang Bom—has not yet been approved at the 1/2000 zoning plan level. This has hindered project approval and investment attraction. Furthermore, industrial zones have not fully realized their growth-driving potential due to unresolved issues, such as 800 hectares of land in operational industrial zones that remain uncleared, leaving limited land available for leasing. Many existing industrial zones lack significant investors or high-tech projects, such as semiconductor manufacturing, which are crucial for high growth. New industrial zones recently approved by the Prime Minister have not yet been allocated or leased due to issues related to rubber plantation lands.

Other bottlenecks include slow land clearance efforts, inadequate revenue from land auctions, and limited land allocation for investment projects, which prevent businesses from commencing operations and hinder economic growth. Additionally, the province's revenue primarily relies on traditional sources, which, although meeting annual budget targets, remain much lower compared to neighboring provinces. Digital transformation, scientific advancement, and innovation efforts are insufficient to meet development demands, and social housing projects have not met the objectives set by the Provincial Party Committee's resolution.

Moreover, local authorities at various levels have not been proactive in proposing solutions or streamlining administrative procedures, which has resulted in overlapping and inconsistent regulations, complicating the process for businesses and organizations. 

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Experts speaking at the workshop. 

Comprehensive Implementation of Solutions
During the workshop, experts, scientists, and strategic advisors proposed both short-term and long-term solutions for 2025. Key recommendations included: removing bottlenecks in public and private investment; supporting businesses investing in industrial zones, expanding operations, and adopting scientific advancements and innovation; introducing policies to stimulate consumer demand and export growth; identifying and prioritizing economic sectors and regions with high-growth potential; Dong Nai should leverage its industrial strengths, prioritize public investment to drive private investment, and ensure that economic growth benefits society as a whole, fostering widespread consensus for achieving the growth target. Additionally, economic development in Dong Nai must align with the Southeastern economic region, emphasizing airport-related infrastructure and urban development, as well as advancing the digital economy through digital transformation initiatives.

Chairman Vo Tan Duc emphasized that in 2025, Dong Nai has set 33 key socio-economic, defense, and security targets, including a crucial goal of achieving 10% economic growth. To meet these objectives, the Provincial People's Committee outlined several immediate and long-term priorities:

Department of Planning and Investment must incorporate feedback from the workshop into the province's 2025 work plan in collaboration with departments, agencies, and local governments.

Heads of departments and local leaders must implement specific solutions, identify breakthrough measures, set clear timelines and responsibilities, and regularly monitor progress to address challenges. Department of Home Affairs must streamline the organizational structure and complete this process by February 20, 2025, to ensure efficient operations. Department of Planning and Investment and the Dong Nai Industrial Zones Authority must address investment environment challenges through effective dialogues with domestic and international businesses to resolve difficulties and enhance investor confidence. Departments and localities must optimize resources for development through land auctions, public investment disbursement, and land clearance. They must also expedite the implementation of key infrastructure projects and complete urban planning and renovation efforts. ​

Dong Nai province must remove institutional barriers to create a conducive environment for digital economic growth and investment attraction. The province should adapt to market trends, embrace new technologies, and enhance management efficiency by focusing on four core tasks: transitioning from reactive to proactive planning and execution, seizing opportunities, fostering innovation, and improving competitiveness; developing synchronized, modern, and sustainable economic infrastructure while attracting investments in Industry 4.0 sectors, such as artificial intelligence, semiconductor manufacturing, automation, blockchain, and big data; establishing green and circular economic models by promoting renewable energy use, optimizing resource efficiency, adopting closed-loop production systems, and minimizing waste and carbon emissions to ensure sustainability and integration into global value chains; developing a high-quality workforce through collaborative training programs with universities and research institutions, while attracting investments in education to enhance the skills of the local labor force. ​

Author: Song Le

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