After the first 10 months of 2026, central Nghe An province's economy has recorded many positive results, with industrial production increasing by over 21%, export turnover reaching $5.77 billion, and budget revenue exceeding the annual estimate.
Notably, the total newly registered and additional investment capital reached over industrial zone VND108.272 trillion (more than $4.2 billion), nearly three times the same period last year. However, the pressure to achieve growth targets in the final months of the year remains significant.
According to the People's Committee of Nghe An Province, despite numerous difficulties and challenges in October 2026, the socio-economic situation in the province continued to maintain a positive trend. Key sectors and fields have generally sustained growth momentum, with industry, exports, and investment attraction playing crucial roles in overall growth.
Investment capital surge, industrial growth continues
Notably, the industrial and construction sectors continue to be the main drivers of the economy. The Industrial Production Index (IIP) in October increased by 20.77%; cumulatively, the 10-month period saw a 21.18% increase compared to the same period last year. Specifically, the processing and manufacturing industry grew by 25.79%.
Many key industrial products maintained significant growth, especially in electronics and construction materials such as electronic components, camera tubes, speakers, microphones, construction stone, and cement. These results further affirm the increasingly significant role of industrial production in Nghe An's economic growth structure.
In the service sector, the goods and consumer market maintained growth momentum. The total retail sales of goods and consumer service revenue in October reached over VND17.830 trillion, an increase of 15.12%. Export activities continued to record outstanding results, with a 10-month export turnover of 5.77 billion USD, up 52.7% compared to the same period.
Tourism also maintained its positive trend, with the province welcoming approximately 10.32 million visitors, an increase of 17%; total revenue from tourism reached VND31.47 trillion. Banking activities remained stable, with mobilized capital increasing by 13.9% and credit outstanding increasing by 8.9% compared to the beginning of the year.
Meanwhile, the agriculture, forestry, and fishery sectors maintained stable production, ensuring seasonal frameworks. The concentrated afforestation area in 10 months reached 21,700,000 hectares, exceeding the annual plan by 3.3%; total fishery production reached 269,000 tons, up 3.71% compared to the same period.
One of the notable highlights is state budget revenue. Cumulatively over 10 months, Nghe An's total budget revenue is estimated at VND28.5526 trillion, exceeding the annual estimate by 22.3% and increasing by 24.1% compared to the same period. This result provides an important resource for the province to implement socio-economic development tasks and infrastructure investment.
Investment attraction activities continue to show strong changes. In 10 months, Nghe An approved 69 new projects and adjusted 146 project rounds, with total newly registered and additional investment capital reaching VND108.2729 trillion, 2.92 times higher than the same period. This is a positive signal for the investment and business environment and the prospect of expanding the local production capacity in the future.
Along with attracting new projects, the province focuses on reviewing and resolving difficulties and obstacles for lingering projects. To date, 136 lingering projects have been resolved according to the required progress in Conclusion No. 08-KL/BCĐ dated October 21, 2026, by the Steering Committee.
Pressure to accelerate in the final stretch of the year
Despite the achievements, Nghe An's economic picture still faces several challenges. Notably, the fourth-quarter growth target of 14.51% set by the Government's Resolution poses significant pressure on sectors and fields in the last two months of the year.
In the industrial sector, some traditional products have seen reduced or low growth; electricity production decreased by 15.63%. In agriculture, the winter crop production was affected by floods, with progress reaching only 30.2% of the plan; African swine fever continues to be complex.
Particularly, the progress of implementing some key projects and disbursing public investment has not met requirements. As of October 22, 2026, the total public investment disbursement plan reached VND16.290953 trillion, accounting for 78.11% of the plan assigned by the Prime Minister after savings, significantly higher than the 43.24% in the same period of 2025.
However, there are still 50 investor units with disbursement rates lower than the provincial average. Difficulties are concentrated in national target program funds, foreign capital, and school construction investment funds in border communes. Resolving obstacles for lingering projects and handling surplus houses and land after rearrangement also face many challenges.
For the 2026 socio-economic development goals, the People's Committee of Nghe An Province has determined to continue focusing on growth tasks, closely following the fourth-quarter GRDP growth scenario according to the Government's Resolution. Departments, sectors, and localities are required to proactively review each target, product, sector, and field, especially those with significant contributions to GRDP, to maximize growth potential.
For public investment, the province aims to achieve 90% disbursement of the plan by November 30, 2026, 95% by December 31, and complete 100% disbursement before January 31, 2027. The focus is on accelerating the progress of key projects, resolving obstacles in project implementation, and enhancing the responsibility of investors and leaders.
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