Prime Minister Nguyen Xuan Phuc chaired a meeting of permanent Government members in Hanoi on May 26 to discuss the development of key economic zones (EZs).
Prime Minister Nguyen Xuan Phuc at the meeting
The leader said key EZs form an important pillar of Vietnam’s growth and it is necessary to promptly complete regional and provincial master plans.
He asked the Ministry of Planning and Investment (MPI) to work closely with other ministries, agencies, and localities to perform the task, stressing that cities and provinces in key economic zones must take the vanguard in economic recovery following COVID-19, in particular attracting major corporations and transnationals with technological expertise and that lead global value chains.
PM Phuc called for attention to infrastructure in the Mekong Delta, in particular the building of several expressways. Each region and locality must complete public investment capital disbursement this year and strive to fulfill 2020’s socio-economic targets, including those related to economic growth and State budget collection, following the pandemic.
Regarding regional economic restructuring and investment attraction, he highlighted the need to ensure there are no difficulties facing investors and businesses and to offer them support in terms of credit, water and electricity supply, transport infrastructure, logistics, and especially human resources.
The MPI, other ministries, agencies, and localities are required to stand shoulder-to-shoulder with key economic zones to attract investment and propose special mechanisms to make them more competitive.
In the northern key economic zone, Hanoi, Hai Phong, and Quang Ninh have the potential to attract investment in high-tech, manufacturing and processing, electronics, services, finance-banking, logistics, and high-tech agriculture.
The central key economic zone focuses on the marine-based economy, the automobile ecological system, transportation services, and especially services. The PM suggested developing regional tourism and cooperating with the Central Highlands to form key zones of regional and global scale.
Meanwhile, the southern key economic zone must draw investment in high-tech and value chains and uphold Ho Chi Minh City’s leading role in turning the zone into a driving force of growth in 2020 and the years to come.
The Mekong Delta key economic zone was advised to take advantage of high-tech farming, especially major farm produce such as shrimp, tra fish, and fruit, as well as the processing industry. Localities were asked to comply with Resolution No.120 on the sustainable development of the Mekong Delta and climate change response.
According to the MPI, the four key EZs’ gross regional development product (GRDP) grew 7.25 percent on average each year during the 2011-2019 period.
Hanoi and HCM City made up 13.08 percent and 19.9 percent, respectively, of the country’s GDP during the period.
Key EZs are now home to the country’s largest marine transportation and air services, including six out of the eight national seaports and airports capable of welcoming some 25 million passengers each year.
Leaders of ministries and localities also reported on the implementation of the PM’s conclusions on the development of EZs, including investing in regional connectivity projects and chains in tourism, logistics, and high-tech sectors, as well as drought and saltwater intrusion prevention and climate change projects./.
Since the core business field is facing difficulties, rubber companies are now gathering strength on developing industrial zones (IZs).