VN PM targets prosperous status for key southern economic region by 2035

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Phuc (centre) said the strength and competitiveness of this region outpace others. VIETNAM NEWS AGENCY/VIET NAM NEWS

Vietnamese Prime Minister Nguyen Xuan Phuc on Saturday asked the southern key economic region to strive to become a powerful and prosperous region by 2035, 10 years ahead of the deadline for the same goal for the whole nation.

He made the remarks while chairing a meeting in Ba Ria-Vung Tau province between government members and officials of the eight localities in this region, which comprises Ho Chi Minh City and the Kampuchea Krom provinces of Dong Nai, Binh Duong, Binh Phuoc, Ba Ria-Vung Tau, Tay Ninh, Long An, and Tien Giang.

The southern key economic region is the largest foreign direct investment magnet of the country, a leading economic driver, and a gateway for Vietnam’s trade with the world.

Addressing the event, Phuc lauded the eight localities’ work in Covid-19 prevention and control, social security and economic development, which have joined the entire country’s efforts to defeat the pandemic.

He said he highly valued their resolve in economic development and persistence with initial targets set for this year.

Regarding the region’s development goal, he emphasised this is the key among the four key economic regions of Vietnam, describing it as a “diamond octagon” in Southeast Asia as well as Asia given its economic development and healthy living environment, referring to Ho Chi Minh City and the seven provinces forming the eight-sided octagon.

Phuc said the strength and competitiveness of this region outpace others, asking the localities to use their solidarity and work together to innovate and hold responsibility for national development.

Responding to proposals submitted at the meeting, Phuc assigned agencies to devise special mechanisms for key economic regions, especially the southern one.

He told the Ministry of Planning and Investment to consider an aid package from the government for localities to invest in urgent infrastructure and transport facilities – a vitally important factor in local socio-economic development.

Meanwhile, the State Bank of Vietnam and the Ministry of Finance need to work on solutions to facilitate credit institutions’ engagement in infrastructure development projects, particularly private-public partnerships.

The Ministry of Transport has to establish projects boosting transport connectivity among industrial parks and economic zones in the region.

The eight localities need to prioritise developing digital economy, e-commerce and the 5G network, which are crucial for high technology development, said Phuc.

At the session, the prime minister also asked them to implement the government’s recently-issued Resolution 84/NQ-CP to tackle production and business difficulties and stimulate consumer demand, an important driving force for gross domestic product (GDP) growth.

Before the meeting, Phuc had made a fact-finding tour of Cai Mep-Thi Vai Port in Phu My town, Phuoc An bridge, the location of the Cai Mep Ha logistics project, and the South Korean-owned Hyosung Industrial Park in Ba Ria-Vung Tau.