Vietnam is estimated to require about VND2,239 trillion (US$140 billion) to accelerate its two key economic zones including the Southeast Economic Zone and the Southern Key Economic Zone by 2020, state media reported.
Of the total figure, Vietnam is estimated to need about VND451.4 trillion ($28.2 billion) in the 2006-2010 period, VND681.4 trillion ($42.6 billion) for the period from 2010 to 2015, and VND1,106.4 trillion ($69.15 billion) for the following five years.
The estimation was made at a recent conference on master socio-economic planning held September 23 in Ba Ria-Vung Tau province with the presence of Permanent Deputy Prime Minister Nguyen Sinh Hung, the former finance minister, and state senior officials from the Government Office.
Vietnam's economic hubs should priorities the development of local key industries, Deputy PM Hung said, requiring all relevant ministries and agencies to prioritize the development of industrial and high-tech zones and to define the strong points of each locality.
At the meeting, senior officials also attached importance to turning the two key economic zones into the country’s economic driving force as well as economic, financial, commercial centers in the region, stressing top priorities to be given to modernizing infrastructure in Ho Chi Minh City and in three other provinces of Dong Nai, Vung Tau and Binh Duong before 2015.
The conference also discussed measures to further boost the economic shift to high labor productivity-based sectors along with simplifying administrative procedures to attract more foreign investors as well as focusing on training highly-skilled manpower.
As part of the master plan, from now to 2015, eight industrial parks will be set up in Dong Nai province, three in Binh Duong province, five in Binh Phuoc province, one in Ba Ria Vung Tau province, one in Ho Chi Minh City, one in Tay Ninh, ten in Long An, one in Tien Giang provinces.
Vice chairman of Department for Localities under the Government Office, Chu Quang Canh said, the master planning, under the directive of the Vietnamese government, aims to create impetus to socio-economic development of the regions.
Canh also noted that accounting for 9.24 per cent of the country’s total natural area; two economic zones have contributed 37 per cent of Vietnam’s total GDP.
Industrial parks account for 70.5 per cent of total area of the two regions, and about 86.1 per cent of total investment are sourced from FDI projects.
According to available statistics, as many as 21 cities and provinces in the northern, central and southern economic hubs have had a high rate of GDP growth over recent years, registering an average 8.1 per cent in the 2001-2005 period, slightly higher than the national level.
Investment, VNS
Vietnamese
