QUANG NAM: The central province of Quang Nam has targeted ambitious economic growth of up to 10% with some key strategic industrial investment projects in 2025, contributing 25 trillion dong (US$1bil) to the state budget.
Chairman of the provincial People’s Committee Le Van Dung said the province will look for promising investment projects in sectors like auto, manufacturing and logistics industries to help reach the target.
He said the provincial economy had a dramatic economic recovery from a 8.7% decrease in 2023, rebounded in 2024 with a 7.1% year-on-year increase, making a contribution of 27 trillion dong (US$1.08bil) to the state budget.
Dung said the province will boost effective investment by setting the ratio of investment capital to Gross Regional Domestic Product at 32%.Truong Hai Group, a key multi-industry investor in the province, has invested US$95mil to develop a series of plants to manufacture auto parts including electrical equipment, glass, bodies and chassis, spare parts and accessories, as well as an research and development centre in the Chu Lai Automobile Industrial Zone.
The group is expected to earn 80.8 trillion dong (US$3.2bil) in revenue from the auto industry – including car exports – as well as high-tech farm produce processing in 2025.The giant carmaker operates its own 50,000DTW (deadweight tonnage) berth in the Chu Lai Port as a key logistics service for Quang Nam and the East-West Economic Corridor linking Thailand, Myanmar, Laos and Vietnam.
Quang Nam has also submitted a mega medicinal herb industrial centre to the government for approval.
The centre would be the first herbal processing facility in central Vietnam recognised under Good Agricultural and Collection Practice-World Heath Organisation standards.
According to a report from the provincial Department of Planning and Investment, Quang Nam has drawn in 1,163 domestic projects worth US$9bil and 201 foreign direct investment projects worth a total of US$6.36bil. — VietNam News/ANN
