Supporting the development of the private economy

Tuyen Quang Province is stepping up efforts to improve its investment and business environment, creating favorable conditions for the private sector to grow and become a key driver of economic development in line with the Party and Government’s policies.

Trach Duy Joint Stock Company in Thanh Thuy Commune maintains stable plywood production for export to South Korea, the EU, and the domestic market.

An increasingly business-friendly environment has encouraged local enterprises to expand production and enhance competitiveness. Trach Duy Joint Stock Company, based in Thanh Thuy Commune, has maintained stable plywood production for export to South Korea, Europe, and the domestic market. In 2025, the company exported more than 8,000 cubic meters of plywood, generating over VND 60 billion in revenue. During the first six months of 2026, it exported more than 5,000 cubic meters of products, providing stable employment for over 70 workers with an average monthly income exceeding VND 10 million. Around 95% of its raw materials are sourced from planted forests within the province, contributing to sustainable forestry development and higher incomes for local growers.

The tourism sector has also benefited from the province’s improved investment climate. H’Mong Village Resort in Lung Tam Commune continues to promote green and sustainable tourism. Since the beginning of the year, the resort has welcomed more than 12,000 visitors, including nearly 1,400 international tourists. More than 80% of its workforce consists of residents, creating jobs while helping preserve the cultural heritage of ethnic minority communities.

The province is currently home to 6,765 private enterprises with a combined registered capital exceeding VND 96.3 trillion. The private sector contributes around 35% of local budget revenue, accounts for 68.24% of the province’s Gross Regional Domestic Product (GRDP), and provides employment for about 60% of the workforce. However, many businesses continue to face challenges related to limited financial capacity, access to credit and land, digital transformation, and technological innovation.

To address these bottlenecks, Tuyen Quang is accelerating administrative reforms, investing in infrastructure, preparing clean land resources, and expanding support for businesses. In the first half of 2026, total social development investment surpassed VND 8.8 trillion. One year after the implementation of the Politburo’s Resolution No. 68-NQ/TW, the province recorded the establishment of more than 1,000 new enterprises, up 120.85% year-on-year, with total registered capital exceeding VND 5.357 trillion. A further 209 enterprises also resumed operations.

By 2030, Tuyen Quang aims to have more than 10,000 enterprises, with the private sector serving as a major engine of economic growth and making an even greater contribution to the province’s socio-economic development.

Moc Lan