Khanh Hoa: Economic momentum in new phase

Since the beginning of the year, Khanh Hoa’s economic landscape has shown numerous bright spots. State budget revenue is nearing the completion of its annual target, the tourism sector has welcomed 18 million visitors, and non-budget investment attraction has exceeded VND 100 trillion. These indicators are generating the momentum needed to achieve the goal of double-digit growth in 2026.

Bright spot in budget revenue and investment attraction

In late August, an atmosphere of spirited labor and production, geared toward celebrating the 81st anniversary of National Day (September 2), permeated the construction sites of key transport projects and industrial zones. Khanh Hoa’s economic performance over the first eight months of 2026 recorded impressive, breakthrough figures. A major highlight was the state budget revenue result; the total budget revenue within the province for this period is estimated at VND 34.521 trillion, reaching 91.8% of the annual estimate and marking a 29.6% increase compared to the same period in 2025.

Ca Na area has been identified as a new growth pole for the province.

Alongside this, significant strides were made in attracting non-budget investment. In August alone, the province attracted four new projects with a combined registered investment capital of VND 56.047 trillion. Cumulatively, over the first eight months of 2026, Khanh Hoa issued decisions for 38 new investment projects with total registered capital exceeding VND 103.856 trillion. Realized capital for non-budget projects is estimated at VND 47.520 trillion, demonstrating the strong appeal of Khanh Hoa’s investment environment to major domestic and international corporations and enterprises. Chau Ngo Anh Nhan, Director of the provincial Department of Finance, emphasized that this is a pivotal period as the province strives for rapid, sustainable development and seeks to elevate Khanh Hoa’s role in both regional and national integration. Consequently, the province has demonstrated strong political resolve to resolve bottlenecks facing businesses. By the end of August, local authorities had finalized resolution plans for all 92 outstanding projects under provincial jurisdiction; simultaneously, they actively collaborated with central ministries and agencies to address challenges facing major projects, thereby unlocking capital flows worth tens of trillions of dong into the economy.

Surge in tourism and services

Affirming its status as a key economic sector and a premier regional destination, Khanh Hoa’s tourism industry has continued to experience explosive growth over the past eight months. Thanks to a series of professionally organized, high-caliber cultural and sporting events, the appeal of Nha Trang - Khanh Hoa tourism has continued to spread widely. Notably, the official launch of the direct Cam Ranh - Dong Hoi flight route by Sun PhuQuoc Airways in August opened up significant potential for inter-regional tourism connectivity between Khanh Hoa and Quang Tri. Statistics show that in August alone, the province welcomed nearly 2.8 million visitors, generating 8.75 trillion VND in revenue. Cumulatively, in the first eight months of 2026, Khanh Hoa received 18 million visitors, a 39.99% increase year-on-year. The international market saw a spectacular breakthrough, recording 6.3 million arrivals, up 67.9%. Total tourism revenue for the eight-month period is estimated at over 60.893 trillion VND, a 19.2% increase compared to the same period last year, with the average hotel occupancy rate consistently maintained at a high level of 65.4%. The tourism boom has directly stimulated the commerce and services sector. Total retail sales of goods and consumer service revenues over the past eight months are estimated at over VND 156.865 trillion, a 19.2% increase year-on-year.

Meanwhile, import-export activities maintained positive growth momentum, with total export turnover for the eight-month period reaching over USD 1,737 million, up 6.2%. The industrial sector sustained a growth rate of 7.83% despite global economic volatility. Key highlights included the mining industry (up 36.62%), water supply and waste treatment (up 10.02%), and manufacturing and processing (up 7.13%). Several major industrial products recorded significant output increases compared to the same period last year, such as various types of sugar (up 31.8%), bird's nest drinks (up 29.8%), and electricity generation (up 5.69%).

To create an infrastructure-driven boost for the next phase, the Provincial People's Committee has closely directed the disbursement of public investment capital. Out of the total capital plan of nearly VND 15.751 trillion assigned by the Prime Minister for 2026, the province has allocated over VND 15.497 trillion (reaching 98.4%). By the end of August, the province's public investment disbursement rate was estimated at 54.8% of the Prime Minister's assigned plan, placing it among the top-performing localities nationwide. Specifically, key projects, allocated nearly VND 5,670 trillion, are the focus of efforts to accelerate construction progress and resolve site clearance issues to ensure early completion.

Nguyen Viet Hung - Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee: During the final months of 2026, departments, sectors, and localities must continue to closely follow directives from the central and provincial authorities and implement synchronized solutions to strive for a full-year growth target of 10-11%. Key priorities include boosting growth in industry, services, and tourism; decisively resolving difficulties faced by businesses and addressing stalled projects; effectively carrying out site clearance; and accelerating the disbursement of both public and non-budget investment capital.

Striving for double-digit growth

In the final months of the year, the Provincial People's Committee continues to direct departments, agencies, and localities to adhere closely to the growth scenario, aiming for a 9.59% GRDP growth rate over the first nine months, thereby establishing a solid foundation to achieve the full-year growth target of 10.2%. To realize this goal, the province is focusing on the synchronized implementation of key solutions. Foremost among these is addressing business challenges, expanding consumer markets, and improving access to credit capital. Concurrently, the province is accelerating occupancy in key industrial zones and clusters such as Ninh Thuy, Du Long, Phuoc Nam, Doc Da Trang, and Trang E 2 while working with competent authorities to increase the power generation capacity of existing plants, thereby creating room for growth in the processing and energy sectors.

Van Phong area attracts numerous investment projects.

Regarding investment, the province is determined to complete the "90-day peak campaign for site clearance of key, strategic projects" and aims to raise the public investment disbursement rate to 75% by the end of September. The province also targets a total realized capital of VND 74.9 trillion for non-budget investment projects and continues to review and resolve bottlenecks affecting stalled projects.

Alongside economic development, efforts to expand urban areas and enhance administrative management are being accelerated. The province is focusing on approving commune-level master plans within September and finalizing the dossier for the Khanh Hoa Urban Master Plan (to 2050, with a vision to 2070), while also fast-tracking schemes to establish new urban wards in Cam Lam, Van Ninh, Ninh Phuoc, and Dien Khanh.

Cam Ranh Port

The results achieved over the past eight months, combined with a decisive action plan for the remainder of 2026, serve as a solid foundation and a springboard for the province to meet its double-digit growth target for the year.

Dinh Lam

Translated by T.T