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Key economic zone for central region

Date: September 15, 2004

HA NOI — The Prime Minister has signed a decision to set up a key economic zone comprising Da Nang City and the provinces of Thua Thien-Hue, Quang Nam, Quang Ngai and Binh Dinh, a move aimed at boosting socio-economic growth in the central coastal and Tay Nguyen (Central Highlands) region.

The five localities’ human and natural resources, as well as their geographical and other favourable conditions, should be fully tapped to make the zone a thriving centre of the country and to accelerate development in the central region, according to the decision.

The decision also charted out a plan for the zone’s development in two stages, 2006-2010 and 2011-2020.

"Quang Nam’s Chu Lai open economic zone, Quang Ngai’s Dung Quat economic zone, Thua Thien-Hue’s Chan May economic-commercial zone, and Binh Dinh’s Nhon Thach economic zone are urged to scour the world for foreign and domestic investment with specific incentives so that they will become nucleuses for regional development by 2010," the decision said.

Da Nang city will play a crucial role in boosting the zone’s growth and establishing a Viet Nam-Laos-Cambodia economic triangle.

Together with Da Nang, the cities of Hue and Quy Nhon will be rearranged to perform their functions as commercial, service, international exchange and tourist centres for the region.

The decision underlined the need to establish close co-ordination among relevant central agencies and the five localities to quickly complete major infrastructure projects in the region. Special heed would be paid to projects designed to link the region to other parts of the East-West Corridor under the Enlarged Sub-Mekong Development Programme and expand eco-tourism in Hue, Quang Nam, and Quy Nhon.

To this end, the decision said, the Hai Van Tunnel and Highway 1’s section encircling Hue should be opened to traffic early next year, and an upgrade of the high-speed road section of Highway 1 from Quang Tri Province through Hue, Da Nang and Chu Lai to Quang Ngai is slated to be completed in 2007.

"A high-quality polytechnic training centre will be set up in Hue city to train qualified technicians and professionals needed in regional development," it added.

The decision set targets for the central economic zone’s development, saying that its GDP growth should be 1.2 times higher than the country’s average rate between 2006 and 2010, and should rise to 1.25 times higher in the 2011-2020 period.

The zone’s contribution to the country’s GDP is set to increase from 5 per cent at present to 5.5 per cent in 2010, increasing to 6.5 per cent in 2020. Its export value per capita will rise from US$149 in 2005 to $375 in 2010, and to $2,530 in 2020.

The zone’s ratio of poor households is projected to drop from 15.5 per cent in 2005 to 8.8 per cent in 2010, and sinking to 2 per cent in 2020, the decision said. —VNS

(Source: Vietnam News)

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