A Magnet for Capital
October alone proved to be a pivotal month, with the province signing 17 new projects worth over 35,000 billion VND. The cumulative data for the year shows a healthy mix of capital sources, comprising 14 Foreign Direct Investment (FDI) projects valued at nearly 35,500 billion VND, along side 147 domestic projects.
According to the Provincial People's Committee, these figures reflect the effectiveness of Gia Lai’s open policy framework and its commitment to supporting the business community.
Major Projects Driving Growth
Several large-scale developments have anchored this investment wave:
- Syre Group (Sweden): A Polyester textile recycling complex valued at 24,970 billion VND.
- Van Canh Binh Dinh Wind Power Plant: A renewable energy project worth 5,700 billion VND.
- Phu My Industrial Park (Phase 1): An infrastructure development project valued at 4,569 billion VND.
MacroeconomicIndicators Surpass Targets
Beyond capital attraction, Gia Lai’s broader economy is outperforming expectations across key metrics:
- Exports: Total export turnover reached nearly $2.98 billion, a 23.7% increase year-on-year. Key sectors such as aquaculture, textiles, and wood products are performing well, pushing figures 3.4% above the annual plan.
- Budget Revenue: As of November 9, state budget revenue hit 23,757 billion VND (114.6% of the central government's estimate). notably, land use revenue contributed significantly with 10,550 billion VND.
- Public Investment: The province is moving quickly on infrastructure spending, disbursing over 10,400 billion VND. This represents nearly 70% of the Prime Minister's assigned plan, placing Gia Lai 10th out of 34 provinces in the comparison group and well above the national average.
- Tourism: The region welcomed over 11.3 million visitors (up 16.8%), generating estimated revenues of 25,600 billion VND.
Infrastructureand Future Outlook
Mr. Pham Anh Tuan, Chairman of the Provincial People's Committee, has directed all departments to maintain this momentum while addressing the after math of Typhoon No. 13. The administration is determined to exceed all economic targets for the full year of 2025.
The province is currently fast-tracking critical infrastructure projects to sustain long-term growth:
- Construction of Runway No. 2 and supporting facilities at Phu Cat Airport.
- Development of the Quy Nhon - Pleiku Expressway and the North-South High-Speed Railway sections.
- Expansion of the Phu My Industrial Park and the Le Thanh International Border Gate Economic Zone.
Chairman Tuan emphasized the urgency of the Nguyen Van Linh road project, setting a strict deadline to open the route to traffic within 2025. This road is seen as a vital prerequisite for developing residential infrastructure along thecorridor.