Around US$1.25 billion committed to Mekong Delta development

Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV), revealed the information at a workshop held in Hau Giang province on July 12 as part of the Mekong Delta Economic Cooperation (MDEC) Forum 2016. 

As many as 16 credit contracts worth VND10 trillion in total were signed right at the event.

Truong Canh Tuyen, Vice Chairman of the Hau Giang provincial People’s Committee, said besides the State budget, capital from banks has made important contributions to the socio-economic development of the Mekong Delta region in general and Hau Giang in particular. 

A report from the SBV showed the region’s capital mobilisation accounts for around 7 percent of the total capital mobilised for the national economy, with loans amounting to US$17.6 billion by June 30, up 3.3 percent year-on-year.

In another development, a master plan and development scenarios for the Mekong Delta region will be reviewed to suit the integration trend and adapt to climate change, stated Deputy Prime Minister Vuong Dinh Hue during July 12 conference as part of the ongoing 9th Mekong Delta Economic Development Forum (MDEC) in Hau Giang province. 

The Deputy PM, who is also head of the Steering Committee for the Southwestern Region, said that the move aims to create a closer regional connection in socio-economic infrastructure and response to climate change. 

He asked sectors and scientists to seek sustainable growth mechanisms for the Mekong Delta region, with practical, accurate and specific studies on their impacts on a number of farm products in the region amidst integration and climate change conditions. 

According to Nguyen Quoc Viet, deputy head of the committee, Vietnam’s international integration creates both opportunities and challenges to the region. 

Along with climate change, sea level rise, saltwater intrusion and a number of emerging problems have pressured the region during its integration, he held. 

He emphasised the need for serious and comprehensive assessment of the region’s capacity in integrating, so as to design active plans that can grasp chances and overcome challenges to boost rapid and sustainable growth. 

To this end, the region should deal with a series of problems, including the restructuring of agriculture towards modernisation and large-scale production by applying advanced technology to raise productivity, quality and competitiveness. 

Lu Van Hung, Chairman of the Hau Giang People’s Committee, expressed his hope that more favourable conditions will be created to help investors study investment policies and key projects of regional localities. 

The conference, themed: “Mekong Delta – Active Integration and Sustainable Development,” is a chance for foreign and domestic businesses to meet and set up business partnerships. It also gives opportunities to management officials, scientists and investors to discuss measures to remove obstacles for the region’s development and integration. 

The Mekong Delta comprises Can Tho city and 12 provinces – Long An, Dong Thap, Tien Giang, Vinh Long, Tra Vinh, Ben Tre, An Giang, Hau Giang, Soc Trang, Bac Lieu, Ca Mau and Kien Giang.