Khanh Hoa's economy grows, good premise when merging with Ninh Thuan

In the context of th economy in the country and in the world facing many challenges, Khanh Hoa province is still trying to overcome the halfway point of 2025 with positive results, creating a solid momentum for long-term strategic goals, especially in the process of merging with Ninh Thuan province. Although the economic development in the first 6 months of the year has not really been as expected, it partly demonstrates the determination in directing and operating to achieve economic development goals by the end of the year.

Maintaining stable momentum

In the first 6 months of the year, under the comprehensive and close leadership of the Provincial Party Committee; the coordination and companionship of the National Assembly Delegation and the Provincial People's Council; the participation of the entire political system, along with the consensus and active participation of the people and the business community, the Provincial People's Committee has directed and operated all fields according to the set plan. Basic economic indicators maintained growth rates compared to the same period last year. Gross Regional Domestic Product (GRDP) is estimated to increase by 7.01%; total social development investment capital increased by 15.5%; state budget revenue is estimated to reach 61.2% of the estimate, of which domestic revenue is estimated to reach 64.8% of the estimate. Total retail sales of goods and consumer services revenue is estimated to increase by 16.2%; total export turnover increased by 11% compared to the same period last year.

Tourism keeps impressive growth.

Specifically, the service industry continues to play a leading role in growth with an increase of 8.6%. In particular, tourism has had strong growth. Total tourism revenue in the first 6 months of the year is estimated at over VND31,031 billion, up 19.1%, attracting 6.2 million visitors, up 20.8% over the same period. In particular, the number of international visitors exceeded 2.6 million, up 12.3%. Other sectors also had remarkable growth. Total social development investment capital is estimated at VND37,424 billion, up 15.5%, showing investors' confidence in the province's business environment. State budget revenue is a bright spot, reaching VND14,751.9 billion, up 54.9% over the same period. Notably, domestic revenue reached VND13,901.9 billion, up 80.3%. These figures not only ensure resources for development projects, but also affirm the effectiveness of policies to attract investment, stimulate production and business in the area.

Le Huu Hoang - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Deputy Secretary of the Provincial Party Committee said that in the first 6 months of the year, all sectors have had stable development. In particular, the high growth of tourism shows the strong attraction of Khanh Hoa sea and island tourism on the international tourism map. To achieve this result, the province has organized many large-scale trade promotion and tourism stimulus activities, creating a spillover effect, attracting a large number of domestic and foreign tourists, directly contributing to the vibrant development of related service industries such as accommodation, food and beverage, transportation and shopping. In the fields, industry alone had an increase of 1.7%. Along with economic development, international cooperation, trade promotion and investment promotion have also been strengthened, opening the door to integration for Khanh Hoa.

Focusing on new goals

With the solid foundations built in the first 6 months of the year, Khanh Hoa is confidently setting a growth target for the whole year of 2025 from 10% - 10.5%. This not only requires efforts to maintain existing growth drivers but also requires breakthroughs in strategic areas. In particular, in the context of administrative merger with Ninh Thuan province, Khanh Hoa is demonstrating high determination to ensure stability and sustainable development for the new economic zone. To ensure harmonious development after the merger, the province is urgently reviewing and adjusting the Khanh Hoa Provincial Planning for the period 2021 - 2030, with a vision to 2050. This adjustment aims to ensure that the planning is consistent with the boundaries, development space and general development strategy of the province after the merger, optimizing new resources and potentials. At the same time, promote production and business activities; focus credit on production and business sectors, priority sectors, economic growth drivers; promote the development of processing and manufacturing industries; promote growth of key industries of the province such as bird's nest, seafood, shipbuilding, electricity production, sugar, and minerals. These efforts are not only aimed at economic growth but also an important stepping stone for Khanh Hoa to successfully implement Resolution No. 09 of the Politburo on building and developing Khanh Hoa province until 2030, with a vision to 2045, striving to become a centrally-run city by 2030, worthy of the potential and position of a major economic - tourism center of the region and the whole country.

The processing industry grows stably.

Nguyen Tan Tuan - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, Secretary of the Provincial Party Committee requested that in the last 6 months of 2025, all levels and sectors need to make efforts to overcome all shortcomings and limitations, focus on implementing tasks and solutions to promote socio-economic development; continue to promote socio-economic development after the merger of Khanh Hoa and Ninh Thuan provinces, ensuring that all sectors and fields of the new Khanh Hoa province will develop further; focus on assessing the situation and reviewing the growth drivers of the new province after the merger to adjust the economic growth targets and scenarios for 2025 to suit the actual situation, in order to create momentum for the 2026 - 2030 period with the target of "double-digit" growth; effectively organize the implementation of important plans approved by competent authorities in the province; review and adjust the Khanh Hoa Provincial Planning for the period 2021 - 2030, with a vision to 2050 to suit the boundaries, development space, and development strategy of the province after the merger, associated with maximizing the potential and strengths of each region and area to create momentum for rapid and sustainable development; urgently complete the coverage of zoning plans, construction plans, urban plans, as a basis for attracting investment and implementing projects in accordance with the law; effectively organize the implementation of the 2025 public investment plan, ensuring no interruption after the arrangement, striving for the disbursement rate of public investment capital in 2025 to reach 95% or more; focus on effectively and promptly implementing social security policies, improving the material and spiritual life and health of the people...

Dinh Lam

Translated by T.T