ASIA NEWS NETWORK

WE KNOW ASIA BETTER

» Business

Mekong Delta targets annual 12% growth over next decade

Publication Date : 29-04-2012

 

The Cuu Long (Mekong) Delta region targets annual economic growth of 12 per cent through 2020, hoping to raise per capita income to 70 million dong (US$3,350) per year, according to the Southwest Region Steering Committee.

The region will be developed into a focal economic zone, an area specialising in food and fisheries produce, according to a report released at an exhibition that opened in Can Tho yesterday to showcase its achievements in the past decade.

Speaking at the inauguration, Vietnamese Deputy PM Vu Van Ninh, who is also head of the Southwest Region Steering Committee, reaffirmed the strategic role played by the Cuu Long (Mekong) Delta in the country's economy.

"It is headed in the right direction in tapping its advantages and potential and contributing to the country's development," he added.

In the first decade of this century, the region grew at 11.7 per cent and accounted for 18-19 per cent of the country's GDP and 10 per cent of exports.

Its average annual industrial growth rate in the period was 18.8 per cent.

Eleven industrial parks were established, attracting $743 million and offering over 70,000 jobs.

But a report released at a conference held to promote investment in the region on the exhibition's sidelines on Thursday said the achievements fell short of potential.

Economic development remained unsustainable and not very competitive, and faced high risk. Agriculture was threatened by climate change and rise in sea levels. Infrastructure was not well developed, making the region less attractive to investors.

There was a shortage of qualified and skilled labour.

The region also suffers from a brain drain, losing out to Ho Chi Minh City and the south-eastern region, leading to shortages of qualified workers.

At the conference, the steering committee called for investments of nearly $1.6 billion into 178 major projects.

Nguyen Phong Quang, its deputy head, said the region would tap gas reserves off the south-west coast, set up wind and thermal power plants, and further develop transport, irrigation, and other infrastructure facilities.

More than 480 businesses in Can Tho and other Mekong provinces are displaying their products at nearly 1,200 stalls at the exhibition which will remain open until May 1.

The inauguration of the fair, being held to mark the 37th anniversary of Reunification Day, was attended by Politburo member Le Hong Anh.

Le Hong Anh and Deputy PM Vu Van Ninh inaugurated the Vo Van Kiet Highway linking Can Tho city with Tra Noc Airport on Thursday.

The 6.9-km long, 50-metre-wide road cost 1.85 trillion dong ($89 million) raised by issuing Government bonds.

 

Mobile Apps Newsletters ANN on You Tube