Vietnamese Government to develop policies to promote key economic regions

Prime Minister Nguyen Xuan Phuc has asked relevant ministries and localities to create policies for the development of key economic regions to drive post-pandemic economic growth.

A view of Da Nang City, part of the Central Key Economic Region. A Government resolution would be built to accelerate the development of key economic regions. — Photo baovanhoa.vn

The Ministry of Planning and Investment would draft a Government resolution about tasks and solutions to accelerate the development of key economic regions, based on collecting proposals from relevant ministries and localities, and report to the Government in the meeting in June.

Focus must be on completing the planning of key economic regions and of provinces lying within the region to promote the strength of every locality and make the region a growth driver of the country.

Specific mechanisms and policies must be raised to attract private investment in developing the infrastructure system, especially in transport projects and projects against flooding, saline intrusion, erosion and coping with climate change.

Action plans must also be developed to attract investment flow from the shift of the global value chain, eyeing big multinational groups and those with high, modern and environmentally-friendly technologies.

The PM also asked the administrative reforms to be hastened to create favourable conditions for investors.

Incentives in investment and credit could be considered for key economic regions to attract large-scale projects in some prioritised sectors.

 

The Northern Key Economic Region would focus on attracting hi-tech, processing, manufacturing, electronics, service, banking, finance and logistics projects to form research and development centres which would promote the application of science and technologies as well as innovation.

The Central Key Economic Region would prioritise the development of marine economy and the eco-system for the automobile industry, transport services and tourism.

The focus of the Southern Key Economic Region would be attracting large-scale and hi-tech projects to build value chains.

The Cuu Long (Mekong River) Delta would focus on developing hi-tech agriculture, agriculture processing industry, tourism of Phu Quoc Island as well as efficiently implementing measures to promote the sustainable development of the region in line with coping with climate change.

The PM also asked key economic zones to improve linkages to promote economic growth. — VNS

Vietnam allows 10-year residence for investors in coastal special economic zones

Vietnam allows 10-year residence for investors in coastal special economic zones

Phu Quoc is the only coastal economic zone that is applicable to the law.

 
 

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