In 2024, Binh Dinh reached most important goals in socio-economic development, which helped enhance its attractiveness and competitive capacity.

The province's GRDP growth rate for 2024 was 7.76 percent, ranking 26th nationwide; it was ranked 6th out of 14 localities in the north central region and coastal central region; and second out of five localities of the central sub-region.

Its Industrial Production Index (IPP) reached 10 percent, exceeding the targeted 7-7.7 percent. The export turnover hit $1.710 billion, surpassing the province’s expectation of $1.650 billion. The total state budget collection from the province reached VND15.615 trillion, the highest ever recorded.

Quang Nam province recovered from a negative growth trend in 2023, achieving positive growth starting in the second quarter of 2024. The 2024 GRDP growth rate is estimated at 7.1%.

The economic structure has changed positively, with growing proportions in industry and tourism services. The State budget collection from Quang Nam in 2024 reached VND27.594 trillion.

As for Da Nang, the city’s 2024 GRDP was estimated to grow by 7.51 percent, ranking 7th out of 14 provinces in the northern part and coastal provinces of the central region, and 29th nationwide. In terms of economic scale, the economy has value of VND151 trillion, up VND17 trillion compared with 2023, ranking 17th nationwide and leading southern central coastal provinces.

The total number of visitors served by local accommodations was estimated at 10.9 million. Total investment capital was about VND33 trillion. The state budget revenue from Da Nang reached VND26 trillion.

Gathering strength for breakthroughs in 2025

Binh Dinh’s chair Pham Anh Tuan said socio-economic development in 2024 experienced highs and lows, from difficulties in the first months to stabilization and growth in following months, before obtaining the GRDP growth rate of 7.78 percent for the whole year of 2024.

"The socio-economic development achievements reflect the united effort and strong determination of the entire political system, businesses, and residents of the province. This outcome also creates momentum for development in 2025," Tuan said.

Le Trung Chinh, Chair of the Da Nang People's Committee, said in 2024, the municipal authorities focused on solving numerous challenges for businesses and gave advice to the central government to issue resolutions, important for Da Nang’s development.

It is expected that 1,313 projects will see their problems removed, including pending projects in coastal areas and Son Tra Peninsula.

The National Assembly passed Resolution 136 on urban government organization and piloting special mechanisms and policies for Da Nang's development. The resolution serves as a springboard for rapid and strong growth.

Alongside Resolution 136, the Politburo has agreed on the establishment of a comprehensive international financial center in HCM City and a regional financial center in Da Nang. This presents an opportunity for Da Nang to make significant progress and development in the coming period.

Quang Nam’s chair Le Van Dung stated that in 2025, the province will continue intensively restructuring and streamlining institutional organizations, bolstering economic growth, digital transformation, and fighting wastefulness. The targeted GRDP is 9.5-10 percent.

In addition to effectively implementing the provincial 2021-2030 development plan, Quang Nam is committed to advancing digital transformation and e-government development in association with administrative reform. The province will also increase investment promotion, foster innovation and entrepreneurship, and support enterprises to develop production and business in the new conditions.

Meanwhile, Binh Dinh has stated that 2025 is a year for "acceleration" and "breakthrough," striving to achieve goals and targets set by the provincial resolution, paving the way for it and the country to enter the new era, the era of the nation’s rise.

The province aims at a GRDP growth rate of 7.6-8.5 percent, with aspirations of surpassing 8.5 percent.

According to Ho Quoc Dung, Secretary of the Binh Dinh Provincial Party Committee, 2025 is the year for Binh Dinh’s strong rise to become a leading province in the region. 

The locality plans to maximize existing growth drivers, exploit new growth engines, and find directions for breakthroughs, especially in semiconductors and AI. Major strides are to be made in digital transformation, leveraging private resources for development investment.

Also, it will continue efforts for administrative reform in order to build a fair and favorable business environment for all economic sectors; and accelerate industrial production and agriculture restructuring in association with the program on building new rural areas and promoting sustainable poverty reduction.

Ho Giap