Southern Vietnamese provinces and cities have made great economicstrides over the last four decades since the region’s liberation and thenational reunification in 1975, substantially contributing to Vietnam’sdevelopment.
An array of industrial hubs have beencreated in the south, which used to house only small-scale mechanicalindustry mainly serving military purposes, said Vice Chairman of theNational Assembly’s Committee for Economic Affairs Nguyen Duc Kien.
Ho Chi Minh City, formerly known as Saigon, is now an economic,cultural, and scientific-technological hub of Vietnam and the nucleus ofthe southern key economic region. It contributes about one fifth of thenational GDP and one third of the State budget every year.
Ba Ria-Vung Tau province, which used to be an underdeveloped area,currently accommodates an oil and gas industrial park along with thelargest maritime service cluster of Vietnam.
BinhDuong province has followed a similar path, becoming a modern industriallocality following its ‘doi moi’ (renewal) efforts and the country’sinternational economic integration.
Withagricultural advantages, southwestern provinces have helped ensure foodsecurity and contributed to the nation’s export of 6 million tonnes ofrice and 8 billion USD worth of aquatic products each year.
The southern key economic region, the biggest of its kind in Vietnam,consists of HCM City and the provinces of Dong Nai, Ba Ria-Vung Tau,Binh Duong, Binh Phuoc, Tay Ninh, Long An, and Tien Giang.
The General Statistics Office said this region accounts for some 17percent of population and more than 8 percent of total area of Vietnam.Its production makes up 42 percent of the national GDP and nearly 40percent of export revenue. The region contributes some 60 percent to theState budget.
Under a master plan approved by PrimeMinister Nguyen Tan Dung in early 2014, the economic region’s industry,construction, and service sectors will constitute 95-96 percent of itsGDP with services making up 44 percent by 2020.
Average per capita GDP will reach up to 4,000 USD in 2015 and exceed5,000 USD by 2020. Meanwhile, per capita export value is expected toincrease to 3,700 USD and 5,400 USD, respectively.
By 2030, the region is set to be a role model of sustainable developmentwith an advanced knowledge economy. It will also become an economic hubof Asia and a global commercial, financial and service centre.
To realise these ambitious goals, the regional localities need tospeed up economic restructuring with a focus on improving productivity,product quality, and business competitiveness, said To Dinh Tuan, Editorin Chief of the HCM City Party Committee’s website.
They should develop infrastructure and high-quality human resources, abetter business climate and attract more foreign direct investment infields that they have advantages in, he added, noting that they mustensure good connectivity within the region and with localities outside.
Regarding HCM City, Chairman of the Party CentralCommittee’s Commission for Economic Affairs, Vuong Dinh Hue, said thecity needs to strive for more rapid and sustainable economic growth.
He pointed out problems facing the city, including enterprises’ lowcompetitiveness and the disparity between infrastructure development andeconomic growth rate and living conditions.
Holdinga pivotal role, HCM City is able to guide the development of thesouthern key economic region, which in turn will be a powerful driver ofthe south and Vietnam as a whole, Hue noted.-VNA
An array of industrial hubs have beencreated in the south, which used to house only small-scale mechanicalindustry mainly serving military purposes, said Vice Chairman of theNational Assembly’s Committee for Economic Affairs Nguyen Duc Kien.
Ho Chi Minh City, formerly known as Saigon, is now an economic,cultural, and scientific-technological hub of Vietnam and the nucleus ofthe southern key economic region. It contributes about one fifth of thenational GDP and one third of the State budget every year.
Ba Ria-Vung Tau province, which used to be an underdeveloped area,currently accommodates an oil and gas industrial park along with thelargest maritime service cluster of Vietnam.
BinhDuong province has followed a similar path, becoming a modern industriallocality following its ‘doi moi’ (renewal) efforts and the country’sinternational economic integration.
Withagricultural advantages, southwestern provinces have helped ensure foodsecurity and contributed to the nation’s export of 6 million tonnes ofrice and 8 billion USD worth of aquatic products each year.
The southern key economic region, the biggest of its kind in Vietnam,consists of HCM City and the provinces of Dong Nai, Ba Ria-Vung Tau,Binh Duong, Binh Phuoc, Tay Ninh, Long An, and Tien Giang.
The General Statistics Office said this region accounts for some 17percent of population and more than 8 percent of total area of Vietnam.Its production makes up 42 percent of the national GDP and nearly 40percent of export revenue. The region contributes some 60 percent to theState budget.
Under a master plan approved by PrimeMinister Nguyen Tan Dung in early 2014, the economic region’s industry,construction, and service sectors will constitute 95-96 percent of itsGDP with services making up 44 percent by 2020.
Average per capita GDP will reach up to 4,000 USD in 2015 and exceed5,000 USD by 2020. Meanwhile, per capita export value is expected toincrease to 3,700 USD and 5,400 USD, respectively.
By 2030, the region is set to be a role model of sustainable developmentwith an advanced knowledge economy. It will also become an economic hubof Asia and a global commercial, financial and service centre.
To realise these ambitious goals, the regional localities need tospeed up economic restructuring with a focus on improving productivity,product quality, and business competitiveness, said To Dinh Tuan, Editorin Chief of the HCM City Party Committee’s website.
They should develop infrastructure and high-quality human resources, abetter business climate and attract more foreign direct investment infields that they have advantages in, he added, noting that they mustensure good connectivity within the region and with localities outside.
Regarding HCM City, Chairman of the Party CentralCommittee’s Commission for Economic Affairs, Vuong Dinh Hue, said thecity needs to strive for more rapid and sustainable economic growth.
He pointed out problems facing the city, including enterprises’ lowcompetitiveness and the disparity between infrastructure development andeconomic growth rate and living conditions.
Holdinga pivotal role, HCM City is able to guide the development of thesouthern key economic region, which in turn will be a powerful driver ofthe south and Vietnam as a whole, Hue noted.-VNA
