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Links in central region economy promoted

Released at: 14:15, 26/09/2017

Links in central region economy promoted

Deputy Prime Minister Vuong Dinh Hue is speaking at the CREF on September 25. Photo: Viet Tuan VET

Co-held by VET, Second Central Region Economic Forum hears of importance of central region localities linking together for economic development.

by Ngoc Chi

The central region’s economy is facing many obstacles caused mainly by differences in economic structure.

This was one of the issues discussed by Deputy Prime Minister Vuong Dinh Hue at the Second Central Region Economic Forum held by VET, the Da Nang People’s Committee, the Vietnam Chamber of Commerce and Industry (VCCI), and the Central Coastal Region Coordination Board in Da Nang on September 25.

Deputy PM Hue affirmed that regional economic development and regional links play a very important role in the country’s socioeconomic development. He cited documents from National Party Congress XII that focus on the development of key economic regions, dynamic regions, economic zones, and industrial parks.

The government and the Prime Minister have issued many guiding documents to remove difficulties and obstacles to developing the economy in the central region. “It can’t develop economically if the economic space is divided,” the Deputy PM emphasized.

Chair of the forum ( Photo: Viet Tuan, VET)

This year’s Central Region Economic Forum focused on three main issues: solutions to removing barriers in policies and mechanisms to create a breakthrough in the sustainable development of the central region’s economy, solutions to harmonious development between the local economy and regional links, and solutions to developing the private sector - the driving force for sustainable economic development in central Vietnam.

One of the reasons for the lack of regional connectivity is that the potential, strengths, and natural resources of cities and provinces in the region are similar and equal, according to experts at the forum. Economic development is based on this potential, and products and economic structure overlap and lack specialization.

Dr. Tran Du Lich, Head of the Central Coastal Consultative Group, proposed that the government create an economic development mechanism for Chu Lai - Dung Quat Economic Zone to become the center of industry in the region.

Panorama of the forum (Photo: Viet Tuan, VET)

According to Mr. Lich, priority should be given to investing in coastal roads to create a driving force for economic development, with special land and tax incentives for urban development adopted in coastal economic zones.

In this regard, Mr. Le Viet Chu, Secretary of the Quang Ngai Provincial Party Committee, proposed there be links in the regional economy in both medium and long-term planning.

A quick survey presented by economist Mr. Vo Tri Thanh at the forum showed that nearly 80 per cent of respondents agree that poor connections and underdeveloped links between provinces in the region are major barriers to growth. The central coastal region saw average growth of 8.4 per cent last year, with revenue of $5.8 billion.

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