Vietnamese Prime Minister Nguyen Tan Dung recently approved a master plan to accelerate the overall socio-economic development of the central economic region towards 2020 with a vision towards 2030.

Under the plan, the region will comprise of Da Nang and the provinces of Thua Thien Hue, Quang Nam, Quang Ngai and Binh Dinh.  Importance will be attached to developing this economic hub in a fast, dynamic and sustainable manner, as well as creating a strong momentum for boosting the progress of the northern-central and the central coast regions.  A focus will also be on ensuring that the economic hub will become a Pacific gateway for localities in the highlands, and that it will leverage the progress of the East-West Economic Corridor and the Viet Nam-Laos-Cambodia Development Triangle Area.

The region is expected to record an annual economic growth rate of around 8% by 2015, and 9% over the 2016 - 2020 period.  In particular, the average gross domestic product (GDP) per capita is expected to hit around 80 million VND by 2020, equivalent to 3,600 USD, which is up to 1.2 times higher than the expected national average.

With its great potential, the region will focus on maritime industries including engineering, and shipbuilding and repair.  Special attention will be also paid to developing the petrochemicals industry, information technology, supporting and processing industries, textiles and garments, and leather and wearfoot.  It is seen as essential to establish large industrial zones in the provinces of Quang Nam, Quang Ngai and Binh Dinh. 

The region will also boost the development of aspects in which it boasts great advantages and potentials.  These include tourism, port services, marine transportation, and international navigation.  In particular, the emphasis will be on making it a place of numerous tourist attractions, which will create close links between Viet Nam and other foreign countries in the South East Asia region such as Thailand, Singapore, Malaysia and Indonesia.

Furthermore, heed will be paid to fully tapping the potentials of the three World Cultural Heritage Sites of Hue Citadel, Hoi An and My Son Sanctuary, and the tourist attractions of Lang Co Bay, Bach Ma National Park, Hai Van Pass, Son Tra Peninsula, Ba Na Hills Resort, and Nam O Village.  The region also has many historical relics and marine eco-tourism sites, plus a coastline with beautiful beaches.