Prime Minister Phạm Minh Chính during the working session with Thái Bình Province's Party Standing Committee on Monday. — VNA/VNS Photo Dương Giang

THÁI BÌNH — Thái Bình Province must identify and reassess its solutions to fully leverage its unique potential and competitive advantages for growth, said Prime Minister Phạm Minh Chính during a visit to the locality on Monday. 

While commending local authorities’ efforts on socio-economic development, the Government leader pointed out that the northern province has not fully tapped into its potential, with the local economy remaining small in scale, with limited efficiency and competitiveness. 

Reiterating the need for bold and determined efforts to achieve double-digit economic growth, PM Chính stressed the development of strategic infrastructure to enable smooth regional and national connectivity, which facilitates Thái Bình’s economic integration.

He also urged the province to make effective use of land resources, developing sea reclamation and seaport projects, enhancing both traditional and new growth drivers, as well as diversifying markets, products and supply chains.

The PM also called for stronger administrative reforms and improvement of the business environment. The targets are for removing at least 30 per cent of unnecessary conditions for business investment, reducing administrative processing time and costs, and facilitating production and business activities.

Additionally, he stressed enhancing national defence and security, maintaining political stability and social order, ensuring social welfare and the environment for growth. 

Thái Bình must also focus on building a clean, robust local Party and political system, improving management capacity, and prioritising long-term measures. 

The locality is also required to strictly comply with the Party’s direction and Government guidelines in the process of merging with the neighbouring province of Hưng Yên.

During the merger and the restructuring towards a two-tier local governance model, the PM underscored the necessity to maintain uninterrupted and efficient public service delivery in alignment with people’s needs. 

According to reports presented at the working session between the PM and Thái Bình Party Standing Committee, the province has made notable progress in socio-economic development. 

The province’s five-year average GRDP (gross regional domestic product) is estimated at 8.36 per cent per year, reaching VNĐ151.2 trillion in 2025. This figure is 1.7 times that of 2020. 

Its average CPI (consumer price index) in the first four months of this year rose by 2.07 per cent, compared to the same period in 2024.

The agricultural, industry, trade and service sectors have also seen considerable growth. Thái Bình’s total registered FDI (foreign direct investment) capital for the 2020-25 period reached over US$5.4 billion (14.5 times the figure of the previous period). Its budget revenue has also reached 67.2 per cent of the estimates in the first four months of 2025 (a 60.8 per cent increase).

The province also made considerable progress on public administrative reforms and welfare, with better results in the Provincial Governance and Public Administration Performance Index (PAPI), the Satisfaction Index of Public Administrative Services (SIPAS) and the Provincial Competitiveness Index (PCI). — VNS