Khanh Hoa Province mobilizes all resources for growth

In 2024, Khanh Hoa province achieved a growth rate of 10.16%, ranking 7th in the country, 2nd in the North Central and Central Coast regions. This result was partly contributed by the Department of Planning and Investment, the advisory for the Provincial People's Committee in economic development management.

Taking advantages of opportunities

In order for the province's economy to have stable development, in 2024, the provincial Department of Planning and Investment made efforts in implementing its tasks, contributing to maintaining double-digit economic growth. The Department focused on closely monitoring, synthesizing, and reporting the socio-economic development situation of the province periodically every month and quarter to proactively advise the Provincial People's Committee to adjust priorities, promptly remove bottlenecks, difficulties, and obstacles, and create momentum to promote economic growth. During the year, the Department advised the Provincial People's Committee to synchronously and effectively implement tasks and solutions to promote the three main growth drivers: investment, export, and consumption, so that the total social development investment capital reaches VND 80,569 billion, an increase of 13.1% compared to 2023; total export turnover reaches nearly 2.045 billion USD, an increase of 16.5%; total retail sales of goods and consumer service revenue reaches nearly VND 129,123 billion, an increase of 13.3%.

In addition, the Department of Planning and Investment always enhanced innovation, improved efficiency in investment promotion activities, and promotes non-budgetary investment. In 2024, the Department chaired or successfully coordinated many large-scale investment promotion activities such as Khanh Hoa - Indonesia Meeting Conference 2024 in Khanh Hoa and investment promotion in Korea; especially, provincial delegations visited and worked in the United States, Japan, Korea, Thailand, Taiwan (China); signed investment cooperation memorandums with many international partners. The Department also advised the Provincial People's Committee to direct the improvement of the investment and business environment, enhance provincial competitiveness, create favorable conditions for the development of production, investment and business activities; strengthen regional cooperation and linkage activities; promote the development of new economic sectors and fields...

According to Tran Hoa Nam - Vice Chairman of the Provincial People's Committee, the Department of Planning and Investment has been proactive and determined in advising the Provincial People's Committee on accelerating the disbursement of public investment capital right from the beginning of the year. The Department has advised the Provincial People's Committee to direct investors to develop and register the disbursement plan for public investment capital in 2024 for each project on a monthly basis; periodically summarize and report to the Provincial People's Committee on the disbursement progress according to the plan registered by investors; direct timely removal of obstacles to accelerate the implementation of projects, especially in investment procedures, site clearance work... As a result, by the end of January 2025, the disbursement rate of public investment capital in 2024 of the province reached about 95.4% compared to the capital plan assigned by the Provincial People's Committee, completing the target set out under the direction of the Government; thereby, taking public investment to lead private investment.

The Van Phong - Nha Trang expressway project expected to contribute to the development of the province in the coming time

Determined to create a breakthrough

The year 2025 is of special importance, the final year of implementing the 5-year socio-economic development plan and the year of focusing on organizing party congresses at all levels. At the same time, this is also the time to consolidate and prepare well the fundamental factors to promote economic growth in the period of 2026 - 2030, contributing to the completion of the goal of making Khanh Hoa a centrally-governed city by 2030 according to Resolution No. 09 of the Politburo on building and developing Khanh Hoa province by 2030, with a vision to 2045. In that context, the Department of Planning and Investment has shown strong determination to overcome difficulties and set a breakthrough goal to contribute to the overall development of the province.

Chau Ngo Anh Nhan - Director of the Department of Planning and Investment said that with the major goals of the year, the department is determined to devote all its efforts to excellently completing key tasks. That is, continue to promote economic restructuring associated with growth model innovation towards enhancing the application of science and technology, innovation, improving productivity, quality, efficiency, resilience and competitiveness; strongly promote new growth drivers such as digital economy, green economy, circular economy, knowledge economy, night economy... Along with that, the Department focuses on advising the Provincial People's Committee to promote disbursement of public investment capital, ensuring the progress of completing key and strategic infrastructure investment programs and projects in 2025; urgently remove difficulties and obstacles in project implementation.

In addition to accelerating the implementation progress of licensed projects, creating a favorable investment and business environment, and strongly encouraging the development of private enterprises, the Department will also continue to unlock all resources, using state resources to arouse, lead, and activate social resources; strictly manage and effectively organize the implementation of planning associated with mobilizing and promoting the effectiveness of resources for socio-economic development; effectively apply specific mechanisms and policies to attract strategic investors to invest in the fields of industry, urban areas, tourism, logistics, innovation, etc. to change the status, create new momentum to help make a breakthrough in economic growth, etc.

In particular, in 2025, the Department of Planning and Investment determines to create a breakthrough in the development of science and technology, innovation and digital transformation, considering this the main driving force for breakthrough growth. In particular, the provincial innovation center will be soon established and put into effective operation; effectively implement the project to establish a national research center on ocean technology after being approved by the Prime Minister.

Dinh Lam

Translated by T.T