Developing a key economic region in central Vietnam

The leaders discussed ways to promote regional links and mechanisms to spur economic growth in central Vietnam.

The Central Vietnam Key Economic Region, which was set up in 2008, covers Thua Thien-Hue, Quang Nam, Quang Ngai, and Binh Dinh province, and Danang city. 

The region has 4 nuclear economic zones including Chan May-Lang Co, Chu Lai, Dung Quat, and Nhon Hoi, and 7 major urban areas - Hue, Danang, Hoi An, Tam ky, Van Tuong, Quang Ngai, and Quy Nhon. 

After 8 years, the average GDP growth of the region has reached 9.4%, higher than the national growth of 5.9%. 

The region is focusing on developing industries, services, and construction. Its competitiveness has improved remarkably.

Specific policies for the region

In the Central Vietnam Economic Region, Danang city and Quang Nam province have the highest competitiveness. The economic growth of localities in the region has not matched with their potential. 

Tran Du Lich, Head of the Consultant Group for the region, said the region needs an economic space zoning program. The government has put in place a number of specific policies to help the region mobilize more resources.

Doctor Tran Du Lich said, “We need to prioritize the whole region’s interests. For example, if we want to introduce the region’s tourist potential, we need to introduce the whole region, not just one location. We should do the same in attracting investment. It’s also important to increase links between localities in human resource training to create a common labor market for the region.

With 4 economic zones and a series of industrial clusters and a location in the West-East Economic Corridor, the region enjoys strong advantages in investment attraction. 

Localities in the region are urged to increase links to improve their competitiveness.

Phan Cao Thang, Vice Chairman of the Binh Dinh Provincial People’s Committee, said, “We need to increase links, especially in infrastructure development, to build an express way from Hue to Qui Nhon. All localities have sea ports, coastal roads, and air ports. We need to connect them. The government also needs to put in place more specific policies for the region”.

Developing high-tech industries, value-added services

By 2020, the region plans to achieve an annual GDP growth rate of 9% and contribute 7.5% of the national GDP. 

Localities in the region have implemented a number of measures to promote the development of high-tech industries and services with high added values.

Huynh Duc Tho, Chairman of the Danang Municipal People’s Committee and Head of the Council for Central Vietnam Key Economic Region, said, “Our provinces need to focus on developing a unified economic development space. We need to set up an organization that connects central coastal provinces, and increase cooperation in infrastructure, socio-economic, and tourism development, marine exploitation, and human resource training”.

The Central Vietnam Key Economic Region plays an important role in national socio-economic development. Over the past few years, this economic region has proved its dynamism and effectiveness.