Economy

Double-Digit” GRDP Growth: When the Goal Is More Than Just an Administrative Directive

Nguyen Luong • 03/05/2026 07:02

Achieving double-digit GRDP growth has become Lam Dong Province’s top priority. Dozens of meetings and field surveys have been conducted to identify and address development bottlenecks.

Achieving double-digit GRDP growth has become Lam Dong Province’s top priority. Dozens of meetings and field surveys have been conducted to identify and address development bottlenecks.

There is a shared recognition that achieving the growth target requires staying grounded in reality, making objective assessments, and taking effective action rather than merely issuing directives.

In 2026, Lam Dong aims to achieve a GRDP growth rate of 10% or more. However, by the end of the first quarter of 2026, the province reported only a growth of 7.47%, which is 2.3 percentage points below the target set for that quarter.

As a result, Lam Dong ranked 28th among 34 provinces and centrally run cities nationwide, below the national average growth rate of 7.83%.

Evaluations indicate that the sluggish growth is due to the limited contributions from two primary sectors: industry, construction and services. The growth outlook for Lam Dong relies significantly on these sectors, as agriculture, forestry, and fisheries have exhibited relatively steady growth but have not led to major breakthroughs.

According to Nguyen Ba Ut, Director of the Department of Industry and Trade, GRDP growth fell short of expectations mainly because the industrial sector had yet to make a sufficient contribution. Although the sector grew by 8.2% in the first quarter, the figure was still considered relatively positive compared with the same period in previous years.

However, within the broader context of the first quarter of 2026, this result was 1.6% lower than expected. The key issue identified was that Lam Dong lacked new, high-value-added products in the early months of the year. Furthermore, the slow disbursement of investment capital was also deemed a significant factor affecting GRDP growth.

Nguyen Ba Ut also stated that Lam Dong still has significant potential in the industry and construction sectors. With strong determination to remove obstacles, the province remains confident and places high expectations on existing project groups.

In the immediate future, the Dak Nong Aluminum Electrolysis Plant Project is being accelerated. The project is expected to officially begin operations in the third quarter of 2026 and produce its first aluminum products, helping increase commercial electricity output and generate substantial added value.

Significantly, 15 secondary projects with well-defined investment portfolios in industrial parks and clusters are currently being expedited. Meanwhile, 500kV and 110kV transmission lines and substations are awaiting investment policy approval. These projects are expected to begin implementation in June 2026, creating new economic value.

Furthermore, two major hydropower projects—Song Luy and Cam Ly—are completing procedures for investment approval and land clearance before construction and operation can begin.

“If conditions are favourable, these projects will generate substantial revenue and make a significant contribution to the province’s GRDP. To achieve growth, we must develop new products that create new added value,” said the Director of the Department of Industry and Trade.

Pham Quoc Hung, head of the Lam Dong Statistics Office, remarked on growth solutions, noting that the province's growth rate was 7.47% in the first quarter of 2026, with the service sector contributing the most, followed by industry and construction. While agriculture remains a key component of Lam Dong’s economy, its growth has stabilised and is no longer generating major breakthroughs. For Lam Dong to achieve stronger GRDP growth, it will require breakthroughs in industry, construction and services.

"In order to achieve a growth rate of 10% or more in 2026, Lam Dong must reach GRDP growth of 11.02% in the second quarter, 11.05% in the third quarter, and 10% in the fourth quarter of 2026. The agricultural sector is projected to sustain steady growth.
At the same time, the industrial and construction sectors need to grow between 14% and 15%, while the service sector should see growth ranging from 13.8% to 14.7%. Only by achieving these targets can Lam Dong compensate for the growth deficit experienced in the first quarter of 2026," Pham Quoc Hung explained.

According to Pham Quoc Hung, the construction and service sectors will be pivotal for achieving significant growth. In the upcoming months, various departments, sectors, and localities in Lam Dong must closely monitor the growth scenario to ensure more effective execution. Specifically, prioritizing the disbursement of public investment funds is essential.

The province also needs to expedite the advancement of processing and manufacturing industries, along with electricity distribution. At the same time, the retail trade, accommodation, and food service sectors should concentrate on boosting consumer demand.

Achieving double-digit GRDP growth in Lam Dong has moved beyond a mere target to become a critical responsibility.

At the meetings, assessments, and field inspections, provincial leaders sent a clear message to department and agency heads, as well as Party secretaries and heads of communes, wards, and special zones: growth must be pursued through concrete and effective action.

Any unit that fails to meet its growth targets will be held fully accountable to the Provincial People’s Committee, reflecting Lam Dong authorities’ strong commitment and decisive leadership in implementing this mission.

To put the directive into action, the Department of Finance, as the lead agency, announced in mid-April 2026 adjustments and supplements to double-digit growth scenarios for each sector and locality.

Ton Thien San, Director of the Department of Finance, emphasised: “We have adjusted the growth scenarios. Each agency and unit must closely align implementation with its actual growth capacity. Any difficulties or bottlenecks must be reported immediately so that timely solutions can be put in place.”

In terms of state budget revenue collection, Lam Dong has thus far recorded very encouraging outcomes and maintains strong confidence in its capacity to meet and surpass the 2026 goals.

However, the most urgent issue currently is the disbursement of public investment funds. So far, Lam Dong has only accomplished slightly over 5% of its target, ranking it among the lowest-performing provinces and cities in the country. This circumstance necessitates that all agencies, departments, sectors, and local authorities respond with greater determination and stronger commitment.

In the near future, Lam Dong Province will categorize projects and assign specific responsibilities to the Vice Chairpersons of the Provincial People’s Committee and local leaders to monitor, closely supervise, and fully account for the progress of each project. Through this method, all projects will be reviewed and analyzed to identify bottlenecks and propose appropriate solutions. Responsibilities will be clearly defined to prevent any individual or agency from shifting blame during implementation.

The leader of the Provincial People’s Committee highlighted that Lam Dong has recognized all the challenges impacting current projects in terms of attracting investments. Currently, the province is concentrating on addressing these problems based on groups of bottlenecks that have been assessed and classified.

Among the various challenges, approximately 90% are under the jurisdiction of the province. Currently, the key factors are adaptability, proactive measures, and strong collaboration among departments, sectors, and local authorities as they address these issues.

Departments, agencies, and local regions are appointing capable and highly qualified officials to collaborate with task force leaders to expedite the resolution of delayed projects. Each project is under careful observation, with authorities working diligently around the clock to tackle problems progressively and track their advancements systematically.

In reality, reaching a “double-digit” GRDP growth presents numerous challenges for Lam Dong. Nevertheless, the province can still maintain optimism about favorable advancements in different sectors.

The key issue currently is for the entire political system to unite with determination and strong commitment. Responsibilities need to be explicitly allocated and assessed. When directives are converted into quantifiable outcomes, tangible results will serve as a standard for action, thereby supporting the clearer and more effective implementation of objectives.

Lam Dong is broadening its investment sources to boost economic development. In this effort, agriculture remains a key sector experiencing steady growth, while aquaculture and seafood processing are also making positive contributions to the province’s GRDP.