Northwestern Region Needs US$2.14Bln for Industrial Development by 2010

Vietnam needs VND34 trillion (US$2.14 billion) to develop the industrial sector in its northwestern region by 2010, a meeting was told in Hanoi on May 3. The figure will climb to VND166.52 trillion (US$10.47 billion) by 2020. 

 

The northwestern region, which includes seven provinces - Ha Giang, Lao Cai, Lai Chau, Dien Bien, Son La, Yen Bai and Hoa Binh - and the west with the two central provinces of Thanh Hoa and Nghe An, is now the poorest region in Vietnam. Meanwhile, its population and area account for 8 per cent and 25 per cent of the country’s total figures, respectively. 

 

This region has big potentials for developing hydropower, minerals exploitation and processing, agro-forestry processing, fine arts and handicraft, and tourism.

 

However, hydropower accounts for only 9.5 per cent of the whole region’s total production value while it has top advantage for development. Meanwhile, the mineral exploiting and processing industry as well as agro-forestry processing are still unplanned and spontaneous. 

 

In the 2001-2004 period, the region witnessed an annual growth of up to 16.63 per cent in its industrial production value but due to its too low starting-point, it obtained VND3.88 trillion ($244.21 million) worth of industrial value in 2004, contributing only 1 per cent to the country’s total industrial production value.

 

Currently, up to 42 per cent of residents in the northwestern region are trapped under the poverty line and are in special need of healthcare and relief operations.