Vietnam's Cà Mau Province Targets 10% Growth, 20,000 Firms by 2030

Authorities in Vietnam’s southernmost province of Cà Mau are implementing a comprehensive strategy of administrative reform, digital transformation, and infrastructure investment to foster a more favorable business climate. The provincial Party Committee and People's Committee have set an ambitious goal of developing 20,000 businesses by 2030, which would equate to an average of eight enterprises per 1,000 residents. This target is a core component of a broader strategy to strengthen the private sector and support sustainable economic expansion.

For 2026 alone, Cà Mau aims to establish 1,500 new businesses, which would raise the total number of enterprises operating in the province to approximately 11,730, according to Huỳnh Công Quân, Director of the provincial Department of Finance. He stated that the province is focused on improving the investment and business environment through more transparent and efficient administrative procedures, while simultaneously reducing costs and regulatory burdens for companies. Authorities are also reviewing obstacles related to investment, land use, construction, and planning to create a stable legal framework that encourages business expansion and attracts new investors.

These efforts are being mirrored at the local level. Đinh Thị Mừng, chairwoman of the People's Committee of Tân Lộc Commune, said economic development has been identified as a key priority for the 2025–30 term, with a special focus on small and medium-sized enterprises. The commune plans to facilitate access to land, credit, and workforce training, particularly for highly skilled labor. It is also promoting policies to help businesses establish, manage, and commercialize intellectual property assets. In its agricultural sector, Tân Lộc is accelerating restructuring towards sustainable models, such as the fragrant rice and clean shrimp farming system adapted to climate change. Investment is also being directed into rural transport infrastructure to improve connectivity.

Cà Mau regards 2026 as a pivotal year, marking the start of its socio-economic development strategy for the 2026–30 period. The province is targeting economic growth of around 10 percent for the year and aims to mobilize VNĐ90 trillion (US$3.46 billion) in total social investment capital.

Provincial Chairman Lữ Quang Ngời emphasized that administrative reform remains a central pillar of the development agenda. The province plans to streamline procedures related to investment, land administration, construction, taxation, and environmental management, while expanding the use of digital platforms and artificial intelligence. A key objective is to reduce administrative processing times and compliance costs for businesses by more than 30 percent compared with previous periods. Cà Mau is also encouraging innovation and entrepreneurship through business incubators and promoting private investment in agriculture, trade, services, tourism, and science and technology.

Provincial Party Secretary Nguyễn Hồ Hải noted the particular significance of the 2025–2030 term, as it is the first following the merger of the former provinces of Bạc Liêu and Cà Mau. This merger has created a larger economic space and opened new development opportunities. Hải said the province would continue improving its investment climate to attract strategic investors and major domestic and international corporations, particularly in the fields of renewable energy, the marine economy, and logistics infrastructure. Public-private partnerships are expected to play an important role in developing transport networks and urban infrastructure.

Over the 2026–30 period, the province aims to achieve average annual GRDP growth of at least 10 percent and labor productivity growth exceeding 8 percent annually. A primary goal is to foster the emergence of large enterprises capable of participating in global value chains.

To support these objectives, Cà Mau has established a special task force to address difficulties faced by businesses and investors. The province is also considering tax incentives and providing free access to digital platforms, accounting software, and electronic invoicing systems for newly established enterprises, especially for household businesses converting into formal companies.

The Department of Finance is coordinating with relevant agencies to implement a provincial emulation movement focused on strengthening private enterprises and improving the efficiency of state-owned enterprises (SOEs) during the 2026–30 period. Alongside private sector development, the province plans to modernize governance at SOEs operating in essential public service and infrastructure sectors. By 2030, all state-owned enterprises are expected to adopt modern digital management systems.

Provincial leaders affirmed that Cà Mau will continue to promote entrepreneurship and encourage legitimate wealth creation, while incorporating business development, job creation, and budget contribution targets into its annual socio-economic indicators. Business associations are also expected to play a greater role in connecting enterprises with government agencies, ensuring that concerns and recommendations are addressed promptly to create conditions for sustainable growth.