Updated  
April, 28 2012 09:23:23

Delta targets annual 12% growth over next decade

 

Workers process tra fish for export at the Bianfishco Company in the southern province of Can Tho. The Cuu Long (Mekong) Delta plans to specialise in food and fisheries to boost farmers' earnings. — VNA/VNS Photo Huy Hung
HCM CITY — The Cuu Long (Mekong) Delta region targets annual economic growth of 12 per cent through 2020, hoping to raise per capita income to VND70 million (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, 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 HCM 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 VND1.85 trillion ($89 million) raised by issuing Government bonds. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Experts slam failure to save old trees Experts slam failure to save old trees

Distinguished scientists and experts in the field of urban planning raised many challenges at a conference yesterday to review Ha Noi's urban tree planning.

Whistleblowers to be rewarded up to US$160,000 1    Whistleblowers to be rewarded up to US$160,000

The Ministry of Home Affairs and the Government Inspectorate have issued a joint circular announcing that whistleblowers will be rewarded up to VND3.4 billion (US$160,000).

Daewoo founder seeks to inspire youth Daewoo founder seeks to inspire youth

As you get older, you spend hours regretting each minute you wasted in your youth, which flies by.

IZ firms find pollution controls too expensive IZ firms find pollution controls too expensive

Many companies in industrial zones claim they lack capital to introduce equipment to save energy and lessen emissions.

Caves in Quang Binh will soon echo with the sounds of runners Caves in Quang Binh will soon echo with the sounds of runners

Quang Binh, home of the biggest cave in the world, Son Doong, is offering visitors treks, caving tours and a race.