Private sector drives economic growth

Implementing the Politburo’s Resolution No. 68-NQ/TW dated May 4, 2025, and Action Programme No. 06-CTr/TU dated August 11, 2025, issued by the Tuyen Quang Provincial Party Committee, the private sector is emerging as a key driver of economic growth, job creation and competitiveness in the province.

At Sao Viet Plywood Factory, operated by Sao Viet Tuyen Quang Co., Ltd., automation has helped reduce manual labour by 70%, enabling the plant to produce 3,000 export products per day. The company plans to double its factory area from two hectares to four hectares by the end of 2026. More than 90% of its raw materials are sourced from plantation forests in the province, helping increase the value of local timber resources and provide sustainable livelihoods for residents. The company currently provides stable employment for more than 300 local workers, with an average monthly income of over VND 8 million per person.

Workers at Woodsland Tuyen Quang Joint Stock Company manufacture wood products for export.

In tourism, H’Mong Village Resort in Lung Tam Commune stands out as a model of green tourism development linked to the preservation of local cultural heritage. Since the beginning of 2026, the resort has welcomed more than 12,000 visitors, with local residents accounting for over 80% of its workforce.

By the end of the third quarter of 2026, Tuyen Quang had 6,794 enterprises with total registered capital exceeding VND 96.324 trillion. From the beginning of the year to early September, 723 new enterprises were established, up 35% year-on-year, with registered capital of more than VND 4.723 trillion, up 129%. Another 178 enterprises resumed operations.

The private sector provides jobs for approximately 60% of the province’s workforce, records average annual growth of 7.65% and contributed around 36% of total state budget revenue as of the end of August 2026. In 2025, total net revenue across the enterprise sector reached VND 74.59 trillion, up 17.7% from the previous year.

Despite these achievements, businesses continue to face challenges related to access to capital and production land, competitiveness and digital transformation. In response, the province is accelerating administrative reforms, addressing business obstacles, developing industrial infrastructure and helping enterprises access credit and digital technologies. It has cut 58.31% of procedures and required documents across 1,621 administrative procedures. In 2025, Tuyen Quang ranked sixth among 34 provinces and centrally governed cities in the Provincial Competitiveness Index (PCI).

Tuyen Quang aims to achieve GRDP growth of 10.17% in 2026 and average annual growth of 10.5% during 2026–2030. The province is also working towards a target of 10,000 enterprises by 2030, with the private sector expected to contribute 55–58% of its gross regional domestic product (GRDP).

Le Duy