Gov’t to seek ways to remove bottlenecks of central coastal localities
VGP – Prime Minister Nguyen Xuan Phuc will chair a
conference to seek ways to boost the development of the 14 central coastal
localities, in Binh Dinh province on August 20.
GDP share of 14 central coastal localities remains
modest only accounts for 6.93% of Viet Nam's GDP
Specifically, the participants to the conference
will evaluate socio-economic situation in the region to find out solutions,
including institutional policies and mechanisms to remove its development
The region is the home to 20.2 million people,
accounting for 21% of the nation’s total population and makes up 28.9% of
the nation’s area.
With the coastal lines of 1,900 km and beautiful
beaches, central region plays a crucial role in marine economic development,
In addition, the region enjoys rich solar power
potential, according to the Ministry of Planning and Investment. By the end
of June this year, 89 solar power plants came into operation with total
capacity of 4,543.8 MW.
In term of investment, the region is home to 11
economic zones with 209 foreign-invested projects worth nearly US$32 billion
and over 1,000 locally-invested projects with total registered capital of
VND 587 trillion.
In the first half of 2019, the GRDP growth of the
central region was estimated at 8.05%, higher than the nation’s average GDP
growth of 6.76%. Eight among 14 localities reported the high GRDP growths
such as Thanh Hoa 22.18%, Ha Tinh 12.78%, Ninh Thuan 10.07%, Phu Yen 9.2%,
Binh Thuan 8.46%, Nghe An 7.09%, Thua Thien Hue 6.87% and Quang Tri 6.8%.
However, the region’s industrial growth remains weak
due to the lack of mega projects while export value share is still modest,
accounting for only 4.76% of the country’s total volume. Noticeably, only Da
Nang city and Khanh Hoa province enjoy trade surplus.
The region’s GDP share only made up 6.93% of the
national GDP in 2018, putting pressure on poverty reduction, reported the
Ministry of Planning and Investment.
One of the major bottlenecks is weak and fragmented
transport system due to the lack of investment capital./.