Central industrial hub sets ambitious growth target in 2025

Workers check an engine on a mechanical production line at the Trường Hải Mechanical Automobile Industries Zone in Quảng Nam Province. The central province will target economic growth of 9.5 to 10 per cent in 2025. — VNS Photo Công Thành

The central province of Quảng Nam has targeted ambitious economic growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.

Chairman of the provincial People’s Committee Lê Văn Dũng 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 per cent decrease in 2023, rebounded in 2024 with a 7.1 per cent year-on-year increase, making a contribution of VNĐ27 trillion ($1.08 billion) to the State budget.

Dũng said the province will boost effective investment by setting the ratio of investment capital to Gross Regional Domestic Product at 32 per cent.

Cranes load containers at Chu Lai-Trường Hải Port in Quảng Nam Province. Automobile maker Thaco Group operates a berth in Chu Lai Port that handles cargo ships up to 50,000 DWT. — VNS Photo Công Thành

Trường Hải Group, a key multi-industry investor in the province, has invested $95 million 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 R&D centre in the Chu Lai Automobile Industrial Zone.

The group is expected to earn VNĐ80.8 trillion ($3.2 billion) 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 Quảng Nam and the East-West Economic Corridor linking Thailand, Myanmar, Laos and Việt Nam.

Quảng 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 Việt Nam recognised under Good Agricultural and Collection Practice-World Heath Organization (GACP-WHO) standards.

According to a report from the provincial Department of Planning and Investment, Quảng Nam has drawn in 1,163 domestic projects worth VNĐ227 trillion ($9 billion) and 201 FDI projects worth a total of $6.36 billion.

The province is the only location in Việt Nam with two UNESCO-recognised world heritage sites, Hội An ancient town and the Mỹ Sơn Sanctuary, as well as the world biosphere reserve of the Hội An-Chàm Islands.

It hosted more than eight million tourists, of which 5.5 million were foreigners, in 2024.