The total state budget revenue in the area far exceeds 20 trillion/year. Since 2017, Quang Nam has become a locality with budget autonomy and has contributed to the Central Government. Quang Nam is mobilising capital sources to focus on building infrastructure systems, attracting investment, and promoting economic restructuring to build the locality into a well-developed province by 2030.
Positive results from economic transformation
Located in a strategic position in the key economic region of the Central region, Quang Nam has great potential for development. The Resolution of the 22nd Provincial Party Congress set out the goal of rapid and sustainable development, striving to make Quang Nam a well-developed province by 2030.
The province has focused on implementing three strategic breakthrough tasks for the 2021-2025 period, including: Building a synchronous infrastructure system and urban development; proactively participating in the fourth industrial revolution associated with developing high-quality human resources; promoting improvement of the investment environment and innovative startups.
Since the beginning of the term, Party committees and authorities at all levels in the province have synchronously implemented many solutions to restore and develop the socio-economy.
The economy has achieved many positive results. The 2024 gross domestic product (GRDP) growth rate increased by 7.1%, industry and construction increased by 12.4%, services increased by 5.8%, and the scale of the economy in 2024 was nearly 129 trillion VND (at current prices), an increase of more than 16.5 trillion VND compared to 2023.
Average income per capita in 2024 reached more than 84 million VND/person, an increase of 10 million VND from 2023. The total state budget revenue in the province is more than 26.6 trillion VND, an increase of 10.1% compared to 2023.
Quang Nam has prioritised investment resources to develop synchronous infrastructure, connecting traffic routes and urban areas. Many important projects and works have been completed and put into use, contributing to promoting the growth of the province's economy.
Chairman of the Provincial People’s Committee Le Van Dung said that after more than 27 years of re-establishing the province (1997-2025), the scale of the economy has increased more than 40 times. GRDP per capita increased 38 times, and total state budget revenue increased nearly 200 times, contributing to the central budget.
Chu Lai Open Economic Zone continues to be a bright spot in development, playing a leading role in growth, notably THACO Chu Lai-Truong Hai, with many products exported to countries, aiming to form a National Automotive Mechanical Centre.
The province’s service-tourism industry is gradually affirming itself as a key economic sector by promoting the values of world cultural heritage, developing service types and attracting new large-scale projects. Economic-social infrastructure has been synchronously invested and developed, creating a premise to promote industrialisation and modernisation in the coming years. People’s quality of life has been improved, with a poverty rate of 4.61%, down 0.96% from 2023.
Development solutions in the coming time
Quang Nam continues to effectively implement the three strategic breakthrough tasks set out. Accordingly, the province will effectively mobilise capital sources, continue to perfect the modern and synchronous economic-social infrastructure and promote the role of motivation and competitive advantages of Chu Lai Open Economic Zone, Nam Giang International Border Gate Economic Zone.
In the coming time, Quang Nam will focus on developing the industry towards a circular economy and specialisation, promoting the contribution of the processing and manufacturing industry to become the main pillar of the economy.
The province has prioritised the development of the industry of manufacturing and assembling automobiles, mechanical, electrical and electronic products, building a national multi-purpose mechanical and automobile centre and at the same time developing supporting industries associated with logistics services, logistics, connecting seaports, airports and railways.
Quang Nam aims to form a logistics and multimodal transport centre and develop Chu Lai International Airport and the Quang Nam Seaport system associated with duty-free zones and industrial parks. Along with industrial development, the province focuses on exploiting natural-cultural spaces to build an international-class tourism centre by maximising the value of the World Cultural Heritages of Hoi An, My Son, and Cu Lao Cham Biosphere Reserve along with historical, cultural and typical relics of Quang Nam.
Luong Nguyen Minh Triet, alternate member of the Party Central Committee and Secretary of the Quang Nam Provincial Party Committee said that Quang Nam would create all conditions for investors to feel secure doing business long-term. Investment projects will be subject to maximum preferential policies according to Government regulations.
The province commits to having support mechanisms for priority projects, ensuring adequate electricity and water. Providing adequate quality labour and ensuring security, order and social safety for production and business activities, Quang Nam implements the motto of “taking people and businesses as the centre of service” and “accompanying businesses” through improving the investment environment and reforming administrative procedures.
These efforts ensure investors and businesses implement the right roadmap effectively, creating breakthroughs and stable development. The province identifies attracting investment from the private sector and foreign direct investment as important driving forces in socio-economic development.
To effectively implement the Provincial Planning, Quang Nam plans to mobilise a total social investment capital of 630 trillion VND, with non-state capital accounting for 508 trillion VND (equivalent to 80% of total resources). Regarding the investment and business environment, the province is determined to improve in the direction of openness, transparency and equality.
At the same time, the locality commits to ensuring legitimate and legal rights and interests, creating conditions for equal access to policies for all businesses and investors. In management and operation, Quang Nam has prioritised consolidating and improving the quality of civil servants with the spirit of serving people and businesses.
The province commits to providing maximum support to investors researching, surveying and implementing investment projects. At the same time, the locality focuses on removing bottlenecks in planning, site clearance, land prices and construction material sources.
“Quang Nam commits to creating all favourable conditions for investors to do business with peace of mind in the long term. Investment projects will be subject to maximum preferential policies according to Government regulations. The province has a support mechanism for priority projects, ensuring an adequate supply of electricity and water, adequate supply of qualified labour, ensuring security, order and social safety for production and business activities, promoting rapid and sustainable local development,” said Luong Nguyen Minh Triet.
