Provinces of central Vietnam seeks way to boost economic growth

10:01 | 29/09/2017 Economy- Society

An economic forum was held on September 25 in Da Nang, bringing together the leaders from nine coastal provinces in central Vietnam to discuss the measures needed to bolster economic growth in one of the country’s poorest regions.

The economic forum for the central region

In his address, Deputy PM Vuong Dinh Hue stated that the central region can play the most significant role in developing the Vietnamese marine economy but remains poor despite its great potential.

He pointed out that the provinces in the region remain locked in localism and have failed to forge links with each other, thereby undermining their advantages and those of the whole region.

Hue added that the Politburo has requested that budget collection and spending should be decided on a regional basis first, before taking each province in account, as a key change in the mind-set on regional economic development.

Professor Dao Nguyen Cat said that there have been many discussions on how to shore up the central region’s economy but so far the conflict of interest between the provinces has yet to be resolved and the regional links have yet to be tapped into.

He expected that this forum could come up with measures truly suitable to the central provinces.

Chairman of Thua Thien-Hue province Nguyen Van Cao stated that one of the main reasons for inefficient regional connection is the similarity in the economic structure between provinces.

According to official data, most provinces in the region posted an annual economic growth of higher than 8.4% during the 2011-2015 period, with industry and services accounting for more than 72% of the total economic output.

The region is located in a strategic region, forming part of the main north-south transport axis and the gateway to the sea of the East-West corridor, with 13 major sea ports and six airports, four of which handle both domestic and international flights.

Theo NDO