Hai Duong approves detailed economic growth scenario for 2025

General Objective

In 2025, the Provincial People's Committee is determined to successfully achieve the target of double-digit growth in gross regional domestic product (GRDP), striving for GRDP to reach VND 132,632 billion, an increase of 12% compared to 2024 (higher than the target set by the Provincial Party Committee and Provincial People's Council of over 10% growth).

Of which, agriculture, forestry and fishery (sector I) reached 11,050 billion VND, up 5.5%. Industry and construction (sector II) reached 76,549 billion VND, up 14.8%. Services (sector III) reached 33,051 billion VND, up 8.6%. Product tax minus product subsidy reached 11,982 billion VND, up 10.8%.

Total state budget revenue reached VND 31,900 billion, of which domestic revenue was VND 28,000 billion (up 7.5% compared to 2024 and up 18.2% compared to the estimate). Total social investment capital was VND 80,850 billion, up 25.7%.

Credit growth reached 12%. Attracting foreign direct investment (FDI) of 1 billion USD or more (increasing promotion and attracting large-scale, high-tech projects, especially in the processing, manufacturing, electronics, semiconductor, artificial intelligence, and hydrogen industries). Attracting domestic investment capital of over 8,500 billion VND.

Construction of 20 key and important projects started; 7 social housing development projects (equivalent to 4,515 apartments).

Detailed scenario

To achieve the above general goal, the GRDP growth scenario is specified with detailed tasks and solutions for each quarter.

Quarter I/2025

According to the detailed data appendix, the province's GRDP in the first quarter of 2025 reached VND30,209 billion, up 11% over the same period last year. Of which, the added value of sector I reached VND3,169 billion, up 4%; sector II reached VND16,556 billion, up 13.8%; sector III reached VND7,684 billion, up 8.7%; product tax minus product subsidy reached VND2,800 billion, up 9.8%.

State budget revenue was 9,375 billion VND, of which domestic revenue was 8,400 billion VND (up 30.2% over the same period). Total social investment capital was 14,310 billion VND, up 25%.

Commenced construction of 6 important public investment projects; 1 project to build a commercial center in Hai Duong city and 1 project to develop social housing (equivalent to 390 apartments).

Quarter II/2025

GRDP reached 32,635 billion VND, up 11.8% over the same period last year. Of which, the added value of sector I reached 3,219 billion VND, up 4.5%; sector II reached 18,858 billion VND, up 14.8%; sector III reached 7,636 billion VND, up 8.4%; product tax minus product subsidy reached 2,922 billion VND, up 10.6%.

State budget revenue was 7,135 billion VND, of which domestic revenue was 6,160 billion VND (up 1.6% over the same period). Total social investment capital was 18,730 billion VND, up 27%. Construction of a social housing development project (equivalent to 1,479 apartments) was started.

Accumulated in 6 months, GRDP reached 62,844 billion VND, up 11.4% over the same period last year. Of which, the added value of sector I reached 6,388 billion VND, up 4.3%; sector II reached 35,414 billion VND, up 14.3%; sector III reached 15,320 billion VND, up 8.5%; product tax minus product subsidy reached 5,722 billion VND, up 10.2%.

State budget revenue was 16,510 billion VND, of which domestic revenue was 14,560 billion VND (up 16.3% over the same period). Total social investment capital was 33,040 billion VND, up 26.1%. Construction of 2 social housing projects (equivalent to 1,869 apartments) was started. Investment policy of 1 new urban area project in the south of Lo Cuong bridge was approved.

Quarter III/2025

GRDP reached 32,428 billion VND, up 13.7% over the same period last year. Of which, the added value of sector I reached 1,738 billion VND, up 6.5%; sector II reached 19,447 billion VND, up 16.9%; sector III reached 8,283 billion VND, up 8.7%; product tax minus product subsidy reached 2,960 billion VND, up 12.7%.

State budget revenue was 7,135 billion VND, of which domestic revenue was 6,160 billion VND (up 6% over the same period). Total social investment capital was 22,110 billion VND, up 25.8%.

Started construction of 4 important public investment projects and 2 social housing projects (equivalent to 1,730 apartments).

Accumulated in 9 months, GRDP strives to reach 95,272 billion VND, up 12.2% over the same period last year. Of which, the added value of sector I reached 8,126 billion VND, up 4.7%; sector II reached 54,861 billion VND, up 15.2%; sector III reached 23,603 billion VND, up 8.6%; product tax minus product subsidy reached 8,682 billion VND, up 11.1%.

State budget revenue was VND23,645 billion, of which domestic revenue was VND20,720 billion (up 13.1% over the same period). Total social investment capital was VND55,150 billion, up 26%.

Quarter IV/2025

GRDP reached 37,360 billion VND, up 11.5% over the same period last year. Of which, the added value of sector I reached 2,924 billion VND, up 7.7%; sector II reached 21,688 billion VND, up 13.6%; sector III reached 9,448 billion VND, up 8.6%; product tax minus product subsidy reached 3,300 billion VND, up 10.1%.

State budget revenue was VND8,255 billion, of which domestic revenue was VND7,280 billion (equivalent to the same period last year). Total social investment capital was VND25,700 billion, up 25.2%.

Commenced construction of 1 important public investment project, 3 investment projects from non-state budget sources, 3 social housing construction projects (equivalent to 916 apartments).

In each quarter of 2025, the GRDP growth scenario specifies growth factors in each region, forecasts, analyzes, and evaluates factors affecting growth.

As for the fourth quarter of 2025, for region 1, the growth scenario forecasts that this is the time to harvest the summer-autumn rice crop; sow winter crops. Agricultural production and consumption activities are taking place strongly. Total rice output reaches nearly 315,670 tons; fresh meat output reaches 43,750 tons; aquatic products reach 30,350 tons.

In the industrial sector, new projects put into operation in the first, second and third quarters increased capacity and it is expected that 4 new projects will come into operation. The added value of the processing and manufacturing industry reached VND16,393 billion, up 14.6%; the production and distribution of electricity, gas, hot water and steam reached VND2,802 billion, up 5.3%.

Construction activities were highly concentrated to speed up the completion progress in favorable weather conditions, disbursement of capital sources was strongly promoted; the expected added value reached VND 2,239 billion, up 18.1%.

For Region III, it is the end of the year, the demand for consumption and shopping increases. Of which, the expected added value of wholesale, retail and repair of automobiles, motorbikes and scooters is 2,238 billion VND, up 10.3%; warehousing and transportation services is 1,925 billion VND, up 12.6%.

Along with that are the main tasks and solutions of departments, branches and localities to achieve the set goals.