Marine economy vital to Co To island district

Maritime economic development has been important for Co To island district in the northern province of Quang Ninh as it boasts great potentials.
Marine economy vital to Co To island district ảnh 1Co To island in Quang Ninh (Photo: VNA)
Quang Ninh (VNA) – Maritime economic development has beenimportant for Co To island district in the northern province of Quang Ninh asit boasts great potentials.

In addition to 4,000 ha of natural land, Co To island district owns a largefishing ground of 300 square kilometres together with more than 50 islands. Itis home to thousands of high economic value marine species such as lobster andabalone as well as nearly 1,000 species of fish.

The island district also boasts great tourism potential with beautiful beachessuch as Van Chay, Hong Van and Bac Van.

Local authorities have taken measures to tap maritime economic potential,including assisting fishermen in using new farming techniques and building new boatsas well as calling for investment in high quality aquatic production.

The district has focused on seafood exploitation and processing, marineservices and tourism, creating breakthroughs in economic growth and economicstructure transfer.

In addition, it has harmonized production, processing and consumption to ensure environmental protection andsustainable development.

Investment has been poured into infrastructure such as upgrading and expandingwater reservoirs and establishing the Gulf of Tonkin Fishery Logistics Centre.

As a result, in the 2010-2015 period, the archipelago’s aquatic output hit over50,200 tonnes with a total value of 441 billion VND (nearly 20 million USD).

In recent years, many new sea farming models have been applied, typicallytidal-fed aquaculture, which increased income of local households. 

The district set up two fisheries unions with more than 200 members and 38seafood processing establishments with a total production of 850 tonnes peryear.

It also strived to boost its sea-island tourism, turning Co To islands into anattractive destination. In 2014, the total number of visitors to the islandshit 100,000, 20 times above the figure in 2010, while tourism revenue reachedabout 100 billion VND. In 2015, the locality welcomed 170,000 tourists, up 70percent against 2014.
Thanks to sea-based economicdevelopment, Co To has seen remarkable changes in socio-economic development,with improving locals’ lives. Between 2010 and 2015, the district’s economygrew 13.35 percent per year and its budget collection reached 59.2 billion VND.Gross domestic product (GDP) per capita hit 35 million VND per year.

The rate of households accessing the national power grid reached 98.3 percentwhile the rate of those using clean water was 73 percent.
Co To was also the firstisland district in the country recognised as a new-style rural area. It wasthe17th district in Vietnam to achievethe title.

From now to 2020, Co To has set a number of goals to continue tapping itsmaritime economic potential. It aims to maintain aquatic production at 8,000 –10,000 tonnes per year. The added value of the fishery sector is targeted tohit160-170 billion VND by 2020, making up over 30 percent of total GDP, whilethe average growth of the sector is expected to reach 12-13 percent per year.

The locality has been calling for investment in building several aquaticprocessing establishments as well as developing local brands such as squids andsea cucumbers.

According to the island district’s master plan on tourism development by 2020with a vision to 2030, Co To strives to become a high quality eco-marinetourism centre and an internationally-standardised recreational hub in the nextfour years.
It plans to receive 150,000tourists, including 17,600 foreigners, earn 605.6 billion VND in revenue andgenerate 2,900 jobs in 2020. It expects to lure 220,000 tourists in 2030,including 50,000 foreigners, with total revenue of 1.7 trillion VND andgenerate 3,400 jobs.-VNA


VNA

See more

Ministerial-level negotiation session between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer (Photo: VNA)

Vietnam, US promote negotiations on reciprocal trade agreement

Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer reached a high consensus on principles, approaches, content orientations, and negotiation plans, thereby establishing a foundation for subsequent negotiation sessions to achieve positive outcomes.

Le Thanh Lam, CEO of TOPSKILLS, shares insights into the role of AI in modern HR management at the launch event of the AI-Powered TMS system in HCM City on May 16. (Photo: courtesy of the organisers)

AI helps businesses build resilient, adaptable succession teams

Experts said that in the context of digital transformation and AI increasingly becoming key drivers of business innovation, building a capable succession team—those who will lead the company toward sustainable growth—has become an urgent priority.

Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra witnessed the exchange of the MoU between the Ministry of Industry and Trade and Thailand's Central Group. (Photo: VNA)

MoIT, Thailand’s Central Group forge partnership to boost Vietnamese exports

The MoU, signed as part of Thai Prime Minister Paetongtarn Shinawatra’s official visit to Vietnam from May 15-16, was the result of extensive discussions between the two sides, aimed at enhancing the presence and competitiveness of Vietnamese products, particularly consumer goods, and agricultural and aquatic products.

Chu Lai Port welcomes the Chana Bhum, a Singapore-flagged vessel operated by RCL, marking the opening of the Chu Lai–India shipping route. (Photo: VNA)

Vietnamese firm, Thailand-based shipping line cooperate to launch Chu Lai - India direct call service

The direct call service helps cut transportation time, reduce costs, increase competitiveness by bypassing major transshipment ports in northern and southern Vietnam. At the same time, it opens up new trade opportunities, promotes logistics activities, develops supply chains, strengthens regional connectivity, and enhances the position of Chu Lai Port on the international maritime map.

Deputy Minister of Finance Cao Anh Tuan grants an interview to the Vietnam News Agency (VNA). (Photo: VNA)

Vietnam, US foster bilateral economic, financial cooperation

Strengthening the Vietnam - US economic and financial cooperation will open new avenues for collaboration and serve as a symbol of trust and a substantive Comprehensive Strategic Partnership for mutual prosperity, a Vietnamese official has said.

Ba Ria-Vung Tau seaport (Photo: VNA)

Resolution 68: A game-changer for Vietnam’s private sector

Beyond regulatory reform, Resolution 68 provides support policies for access to land, capital, and high-quality human resources, while also promoting digital transformation, innovation, sustainable development, and global value chain integration.

A booth at VietOffice 2024. The first VietOffice held in May last year was a success, generating positive results. (Photo: VNA)

VietOffice 2025 expected to attract 100 exhibitors

The event will see the participation of about 100 exhibitors from eight countries and territories, namerly India, Taiwan (China), China, the Republic of Korea, Japan, Hong Kong (China), the US, and Vietnam.

Illustrative image (Photo: VNA)

Exporters diversify orders to reduce reliance on single market

Facing the risks posed by trade barriers and potential reciprocal tariffs from the US, many businesses have proactively shifted their market strategies, stepped up trade promotion, and diversified their orders to reduce reliance on a single market.

A customer buys petrol at a station in Hanoi. (Photo: VNA)

Government proposes 2-pp VAT reduction on select goods and services until 2026

A 2-percentage-point reduction in the value-added tax (VAT) for goods and services will lead to a decrease in state revenue by approximately 121.74 trillion VND (over 4.69 billion USD) over the proposed period. This includes an estimated 39.54 trillion VND in the second half of 2025 and 82.2 trillion VND in 2026.

Illustrative photo (Photo: VNA)

Petrol prices up in latest adjustment

E5 RON92 petrol is now capped at 19,180 VND (0.74 USD) per litre, up 403 VND from the previous adjustment, while RON95-III petrol costs 19,594 VND per litre, up 415 VND.

Delegates at the groundbreaking ceremony. (Photo: VNA)

Ba Ria-Vung Tau: New phase of luxury resort project kicks off

The nearly 1 billion USD subdivision includes a system of 5-star hotels, resort villas, entertainment facilities, a casino, and an international convention and exhibition centre, with more than 6,000 rooms, serving over 18,000 guests at the same time.