Private sector set to power Thai Nguyen’s post-merger economy

Following the administrative merger of Thai Nguyen and Bac Kan provinces on July 1, the population size, geographical scope, economic structure, spatial planning, and enterprise development needs have undergone significant changes. It is essential to enhance activities and policy mechanisms to support the private economy’s growth while implementing simplified, transparent, and efficient administrative procedures for business registration and startup activities. This aims to foster both the quantity and quality of the private economy in the new era.

At the first Thai Nguyen Party Congress for the 2025–2030 term on September 22, the Department of Finance outlined the province’s private sector development strategy to 2030, with a vision to 2045. The plan positions the private economy as a key growth driver, taking the lead in science, technology, innovation, and digital transformation, while contributing to the implementation of Resolution No.57-NQ/TW and other Party guidelines and policies.

Looking towards 2045, the private economy in the province is expected to grow rapidly, robustly, and sustainably, proactively participating in global production and supply chains with high competitiveness in the region. The goal is to have approximately 35,000 enterprises operating in the economy by 2045, contributing over 60 per cent to the province’s regional GDP.

To achieve these objectives, one proposed solution is to continue pushing administrative reforms, streamlining the apparatus, and simplifying administrative procedures to make them accessible and easy for businesses and citizens to navigate.

Additionally, the province needs to accelerate digital transformation, applying technology to streamline administrative procedures, state management, and support businesses in handling procedures and documents electronically.

A key solution proposed by the Department of Finance is to establish a platform to support startups, expand the one-stop-shop model, synchronise information systems for handling specialised administrative procedures, and ensure inter-agency connectivity. Simultaneously, policies to support startups for disadvantaged groups and specific regions should be developed.

The Department of Finance outlined a roadmap to 2030 with specific tasks. In the 2025–2026 phase, the province will focus on developing and issuing a standardised set of administrative procedures province-wide and piloting the “One-Stop Startup Support” model in 10 wards and communes, while providing training for all staff handling applications at the ward and commune levels.

In the 2026–2028 phase, the 'One-Stop Startup Support' model will be expanded across the province. This is also the appropriate time to launch the Thai Nguyen Startup Support Portal. From 2028 to 2030, the province will maintain and upgrade the digitalised administrative support system while conducting evaluations based on key indicators namely the number of new enterprises, business satisfaction levels, and average processing times for applications.

A new era of growth

The merger with Bac Kan has expanded Thai Nguyen’s development space and scale, opening diverse opportunities for robust growth. For the 2025–2030 term, the province targets becoming a modern industrial centre with high average income by 2030, aiming for annual economic growth of 10.5 per cent and contributing to the national goal of double-digit growth in 2026–2030.

Trinh Viet Hung, alternate member of the 13th Party Central Committee, Deputy Secretary of Thai Nguyen Party Committee and Chairman of Thai Nguyen People's Committee

In his opening speech at the Congress, Trinh Viet Hung, alternate member of the 13^th Party Central Committee, Deputy Secretary of Thai Nguyen Party Committee and Chairman of Thai Nguyen People's Committee declared, "The Party Committee has outlined seven key tasks and three important development areas, focusing on developing synchronised and modern infrastructure, advancing science, technology, innovation, digital transformation, improving human resource quality, making the private economy a key economic driver, and promoting green and circular economies."

Speaking at the Thai Nguyen Party Congress, General Phan Van Giang, Politburo Member and Minister of Defence, said "The province must prioritise building synchronised, modern infrastructure; advancing science, technology, innovation, digital transformation, and workforce quality; and positioning the private sector as a key economic driver alongside green and circular growth. Immediately after the Congress, the Thai Nguyen Party Executive Committee should issue an action plan and mobilise resources for implementation."

General Phan Van Giang, Politburo Member and Minister of Defence

General Phan Van Giang urged the province to strengthen planning and planning management, clearly defining its role within the northern key economic region and the capital region, with a focus on regional connectivity to drive growth and affirm its position as a hub for the northern midland and mountainous area.

"Prioritise the development of high-tech industries with strong competitive advantages, environmental sustainability, and efficient use of land and labour," he stressed. "Give particular attention to attracting key sectors such as supporting industries, electronics, IT, and deep mineral processing."

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