Central coast focuses on tourism development
The central coastal region should enhance its sea-borne tourism potential and natural resources to attract investment and development, said Nguyen Ba Thanh, Head of the Central Coastal Regional Coordination Board.
Thanh, who is also Head of the Party Central Committee’s Internal Affairs Commission, told a March 22-23 conference that the central coastal region has great potential for socio-economic development but achievements have so been below expectations.
He said the region needs to work out measures to tackle problems related to infrastructure, incentive policies and mechanisms, and human resources.
Ministry of Planning and Investment Development Strategy Institute director Bui Tat Thang said the most prominent advantage of the region is sea-borne tourism.
Along 1,400km of coastline, nine provinces in the region stretching from Thua Thien-Hue to Binh Thuan boast beautiful beaches, many islands and four world cultural heritage sites.
The region also has abundant natural resources such as titan, iron, aluminium and oil.
To date, six economic zones and 34 industrial zones have been established and connected to the seaport and domestic and international airports.
Statistics showed investments in the region during 2007-2012 hit VND605 trillion (U$28.8 billion) with an annual growth rate of 11 percent.
As of 2012, the region attracted 709 foreign direct investment projects with a total registered capital of US$25.25 billion, making up 12.14 percent of the country's registered FDI.
The average GDP growth rate per capita was 12.5 percent in 2006-11, nearly doubling the country's average.
Deputy Minister of Planning and Investment Dang Huy Dong told the conference that enhancing the regional link is the optimal solution to turn the region into a single economic space to exploit the competitive advantages of each locality.
He urged the provinces to complete infrastructure in economic and industrial zones, provide support to investors by speeding up land clearances, and attracting investment corresponding to regional competitiveness.
Head of the Consultative Group for Development of the Central Region Tran Du Lich said connectivity between the deep-water port, airport and economic and industrial zones also needs to be enhanced to reduce transport costs.
He said mechanisms and policies should focus on investments in key industries.
At the two-day conference, investors committed more than US$30.8 million to the central region. Nine projects in regional provinces and cities received investment licences worth a combined value of nearly US$197 million.
The Bank for Investment and Development of Vietnam also signed credit contracts with enterprises totalling about US$221 million.