• An Giang
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  • Yen Bai

Gov't reviews overall picture of four key economic regions

VGP – Prime Minister Nguyen Xuan Phuc chaired a meeting on Friday to hear a report summarizing the overall picture of Viet Nam's four key economic regions and their impacts on national growth.

July 26, 2019 5:30 PM GMT+7

Prime Minister Nguyen Xuan Phuc chairs a meeting to hear a report summarizing the overall picture of Viet Nam's four key economic regions, Ha Noi, July 26, 2019. Photo: VGP

The report was developed by the Ministry of Planning and Investment (MPI) based on the statistics of the 2011-2017 period. 

Growth of economic regions is a matter of the PM’s great concern, as over recent times, the Government chief has presided a series of regional-level conferences, such as conferences on the development of the northern, southern and Mekong Delta key economic regions; conferences on tourism development in the Central-Central Highlands regions; and those on free migration in the Central Highlands region.

According to the report, gross regional domestic product (GRDP) of four key economic regions grew by 7.14% annually on average during the 2011-2017 period. Growth of key economic regions is mainly driven by the processing and manufacturing industries. Labor productivity of key economic regions tends to increase. The northern and southern key economic regions lead the country in terms of labor productivity, indicating that this is one of the core factors that decide the level and quality of economic growth of these two regions. 

The MPI report has quantified the relationship between the growth of the northern and southern key economic regions and the whole country, as 1% of GRDP of the northern and southern key economic regions helps GDP of the whole economy increase by 0.49% and 1.12%, respectively.

Addressing the meeting, PM Phuc stated that the report initially provided an overall picture with relatively updated data.

He applauded the ideas that an overall directive needs to be issued by the PM in order to boost the development of key economic regions.

The Government leader agreed with the solutions presented by the report, including stepping up the disbursement of basic construction investment capital, removing difficulties for production, accelerating investment attraction, boosting the application of scientific and technological advances, and ensuring sufficient power for production.

The four key economic hubs are: Northern Economic Region, Central Economic Region, Southern Economic Region, and Mekong Delta Economic Region.

The Northern Economic Region comprises of 7 cities and localities, namely Ha Noi, Hung Yen, Hai Phong, Quang Ninh, Hai Duong, Bac Ninh, and Vinh Phuc.

The Central Economic Region includes 5 localities: Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh.

The Southern Economic Region groups Ho Chi Minh City, Binh Duong, Ba Ria-Vung Tau, Dong Nai, Tay Ninh, Binh Phuoc, Long An, and Tien Giang.

Meanwhile, Can Tho, An Giang, Kien Giang, and Ca Mau constitute the Mekong Delta Economic Region./.

 By Vien Nhu