Thai Nguyen expecting a 7.5% economic growth in 2024

Modern industrial and economic center of the Northern Midlands and Mountains region

Thai Nguyen is one of the leading localities in Vietnam as it identifies digital transformation as a key task associated with socio-economic development in an early stage, turning the province into a modern industrial and economic center of the Northern Midlands and Mountains region.

Considering the difficult context of the domestic and foreign economy, Thai Nguyen province is still able to achieve impressive growth in 2023, ranking 2nd in the Northern Midlands and Mountains region and 6th in the region under Central, after Hanoi, Bac Ninh, Hai Duong, Bac Giang and Vinh Phuc.

Not only does it reach the set economic targets of 2023, this province exceeds expectations and achieves an impressive growth of 6.8%. The result reflects Thai Nguyen’s strong development in the fields of industry, agriculture and services.

To be more specific, the value of industrial and handicraft production increased by 8.2%, a noticeable figure in comparison to the overall growth rate of the country. As for agriculture, forestry and fisheries, the growth rate was 3.5%, showing the stability and development potential of these industries. The tourism industry, with an estimated revenue of VND 1,200 billion, has become one of the main driving forces of economic development, along with state budget revenue reaching 18,000 billion VND, contributing to the overall development of the province.

An ambitious target of 7.5% economic growth rate

In 2024, Thai Nguyen sets great expectations with an ambitious economic growth target of 7.5%. To make this goal a reality, this province has implemented a series of key tasks and specific solutions.

Accordingly, Thai Nguyen will continue to attract investment in advanced technology projects that are environment-friendly and efficient in terms of resource use. This not only helps enhance business innovation and competitiveness but also promotes the sustainable development of the province.

Applying science and technology to agricultural production will improve productivity and product quality while helping the province access and develop new markets. Diversifying tourism products and improving service quality will not only attract tourists but also contribute to promoting the image and culture of Thai Nguyen to the world.

Thai Nguyen province is determined to focus on improving the quality of education, training and health care as these are important factors in socio-economic development. Reducing the poverty rate is also one of the top goals, with the aim of building a fair society while maintaining comprehensive development.

With strong determination and support from both the political system and the people, Thai Nguyen is getting closer to realizing its economic growth goals. The province is committed to continuing administrative reform and creating favorable conditions for investment, thereby promoting comprehensive socio-economic development.

To realize the set goals, Thai Nguyen Provincial Party Committee is making efforts to implement the “Provincial Planning for the period 2021 - 2030, a vision to 2050” approved by the Prime Minister. Site clearance work is being accelerated to initiate important infrastructure projects in the southern region of the province.

At the same time, Thai Nguyen is also implementing measures to coordinate and link with neighboring provinces to promote industrial production and product consumption. Agricultural restructuring and development of new countryside towards ecological agriculture and modern rural areas are also being focused on, considering the province’s aim is to create conditions for people to develop sustainably. The development of key agricultural products and OCOP products will be further developed while associating with the application of new technology, digital transformation and digital economic development.