From now to 2020, the northern key economic region is required to attain a rapid growth rate so as to make a breakthrough to drive the development of the whole northern region, Deputy Minister of Planning and Investment Dang Huy Dong has said.

The northern key economic region comprises Hanoi, Hai Phong city, and Quang Ninh, Hai Duong, Hung Yen, Bac Ninh and Vinh Phuc provinces.

Under a master plan on socio-economic development of the region announced in Hanoi on June 25, the regional gross domestic product (GDP) is set to grow by 7.5 percent from 2011 to 2015 and 9 percent in the 2016 – 2020 period.

Per capita GDP is expected to reach 3,200 – 3,500 USD per year by 2015 and 5,500 USD by 2020.

The plan also targets 7.7 percent of GDP contributed by the agro-forestry-fishery sector, 48.3 percent by industry – construction, and 44 percent by services by 2015. The respective figures by 2020 are set at 5.5 percent, 49.1 percent, and 45.5 percent.

At the same time, the northern key economic region is supposed to actively improve its business environment and swiftly strengthen coordination among sectors and local authorities in support of small- and medium-sized enterprises.

The seven localities also need to work closer to organise promotion campaigns to attract foreign direct investment.

Vu Quang Cac, Director General of the ministry’s Planning Management Department, said the region will need over 1.8 trillion VND (85.7 million USD) for socio-economic development from now to 2020.-VNA