The central province of Khanh Hoa has succeeded in transforming itself from an agricultural to multisectoral economy by developing its industrial and services sectors in the 35 years since liberation its leader has said.
Vo Lam Phi, chairman of the provincial People’s Committee said: “Last year, tourism accounted for 43.3 percent (of the economy), industry and trade 41.7 percent, and agriculture 14.9 percent.”
Thanks to its transformation, the province had achieved average economic growth of 11 percent and improved socio-economic standards, he said.
The size of its economy has grown by 129 times since 1990 to 6.2 trillion VND (325 million USD) last year.
The province spends 60 billion VND (3 million USD) annually on fighting poverty and hunger, and has managed to reduce the poverty rate to 1.9 percent.
In the first quarter of this year, the province attracted foreign direct investment worth 1.2 billion USD, mainly in projects in economic hubs like Van Phong, Cam Ranh and Nha Trang.
Infrastructure has been built - including Nguyen Tat Thanh, Pham Van Dong and Nha Trang-Da Lat highways - to not only link tourist destinations within the province and but also connect Nha Trang City with outside destinations like Da Lat.
The province has paid special attention to developing luxury hotels and resorts like Vinpearl, Hon Tam, Novotel, Ana Mandara, Sunrise, Saigon - Yasaka - Nha Trang, tourist attractions like Bai Rong Tourism Zone and Thap Ba Hot Spa, and infrastructure like Cam Ranh Airport and Van Phong International Port.
“The province hopes to achieve 12 percent growth this year and has ambitious education, poverty elimination, and social welfare targets,” Phi added./.
Vo Lam Phi, chairman of the provincial People’s Committee said: “Last year, tourism accounted for 43.3 percent (of the economy), industry and trade 41.7 percent, and agriculture 14.9 percent.”
Thanks to its transformation, the province had achieved average economic growth of 11 percent and improved socio-economic standards, he said.
The size of its economy has grown by 129 times since 1990 to 6.2 trillion VND (325 million USD) last year.
The province spends 60 billion VND (3 million USD) annually on fighting poverty and hunger, and has managed to reduce the poverty rate to 1.9 percent.
In the first quarter of this year, the province attracted foreign direct investment worth 1.2 billion USD, mainly in projects in economic hubs like Van Phong, Cam Ranh and Nha Trang.
Infrastructure has been built - including Nguyen Tat Thanh, Pham Van Dong and Nha Trang-Da Lat highways - to not only link tourist destinations within the province and but also connect Nha Trang City with outside destinations like Da Lat.
The province has paid special attention to developing luxury hotels and resorts like Vinpearl, Hon Tam, Novotel, Ana Mandara, Sunrise, Saigon - Yasaka - Nha Trang, tourist attractions like Bai Rong Tourism Zone and Thap Ba Hot Spa, and infrastructure like Cam Ranh Airport and Van Phong International Port.
“The province hopes to achieve 12 percent growth this year and has ambitious education, poverty elimination, and social welfare targets,” Phi added./.
