It is high time for localities in the key economic zone of the central and Central Highlands regions to speed up economic growth and make more breakthroughs for the second half of this year so as to ensure that their gross regional domestic product (GRDP) growth in the region will not be lower than Viet Nam's national average.

PM Nguyen Xuan Phuc delivering a keynote speech at the meeting

The guidelines were made by Prime Minister (PM) Nguyen Xuan Phuc at a meeting on Saturday in Da Nang with the leaders of the 14 localities in the central and Central Highlands regions

The event was co-chaired by PM Phuc, Deputy Prime Ministers Truong Hoa Binh and Pham Binh Minh, and Da Nang Party Committee Secretary Truong Quang Nghia.

PM Phuc stressed the need for these localities to exert greater efforts to remove difficulties faced by their existing projects, and attract new ones in the coming time.

PM Nguyen Xuan Phuc giving constructive instructions at the event

PM Phuc also urged these localities to take actions to promote domestic tourism, digital transformation, administrative reform and online public services, along with breakthrough solutions to spur regional connectivity, and airport, seaport and logistics infrastructure, including coastal expressways.

No locality in the central, Central Highlands regions is allowed to experience negative growth, PM Phuc said. He also asked leaders of these localities to focus on putting in place the policies to realise their socio-economic targets.

Apart from promoting the private economic sector and improving the business environment, the localities should utilise the EU-Viet Nam Free Trade Agreement (EVFTA) and new-generation free trade agreements to add signature products in major global value chains.

The government of Viet Nam will support these localities to overcome the existing difficulties and obstacles to their economic progress, PM Phuc pledged, assigning the Ministry of Planning and Investment to supervise their public investment disbursement.

PM Nguyen Xuan Phuc and the leaders of the 14 localities in the central and Central Highlands regions

It was reported that the GRDP of the region contracted by some 3.22% in the first half of this year.

According to the State Treasury of Viet Nam, as of June 30, public investment disbursement of the seven central localities reached only 34.2% of the target, lower than Viet Nam's national average.

In his remarks at the meeting, Da Nang People's Committee Chairman Huynh Duc Tho confirmed, over recent years, Da Nang has drastically implemented the dual goals of Covid-19 pandemic containment and economic recovery.

In the first half of this year, Da Nang attracted more than 13,000 billion VND worth of domestic investment and more than 135 million US$ in FDI capital. Also, the municipal authorities granted investment licences to 55 FDI projects totalling 118.5 million US$.

Da Nang People's Committee Chairman Huynh Duc Tho addressing the meeting

Chairman Tho took the chance to ask the Prime Minister and national relevant agencies to issue support mechanisms and policies for the implementation of a number of key projects in Da Nang in the coming time.

Most notable amongst them are the Lien Chieu mega-port relocation of the city’s railway station and the progress of the East–West Economic Corridor connecting with the national highways of 14 B, 14G and 14D. These are projects that hold pervasive impacts on the region’s growth, especially that of the Thua Thien Hue- Da Nang - Quang Nam triangle.

Mr Tho also asked for approval from the government of Viet Nam for the adjustments to a decree on special mechanisms for Da Nang in terms of investment, finance, budgetary status, and decentralisation.

Mr Tho hoped that, with active support from the national government, specific planning preparations would be made so as to establish a financial hub in Da Nang in the near future.

By HOANG HIEP- KHANG NINH- Translated by A.T