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Can Tho strives to become economic hub

Update: January, 09/2015 - 08:46
Ninh Kieu Quay in the Mekong Delta's Can Tho City. The city's industry and trade sector has been set a target of accounting for 97.5 per cent of its economy by 2019. — VNA/VNS Photo Duy Khuong

CAN THO (VNS) — The Mekong Delta city of Can Tho aims for the industry and trade sector to account for 97.5 per cent of its economy by 2019 in line with the city's goal of becoming the regional economic hub by 2020, Vice Chairman of the municipal People's Committee Nguyen Thanh Dung said at a meeting on Wednesday.

Industrial production should grow at an annual rate of 12 per cent to achieve this goal, which represents a 4 per cent increase from 2014, said Duong Nghia Hiep, deputy director of the city's Department of Industry and Trade.

He reported that the city would expand production of high-added value products using advanced technologies and modern equipment.

Priority will be given to the processing industry in order to make it the key sector in industrial production, accounting for at least 96 per cent of annual industrial production value. Meanwhile, a high-tech park and ten new industrial zones will be constructed along with more investment in the mechanical engineering industry. With these developments, the city aims to meet all demand in the Mekong Delta for machinery maintenance and parts for farm and rice processing machines as well as industrial, transport and construction machinery for both domestic use and export.

Local wholesale and retail markets will be expanded with more supermarkets and shopping centres built. The city will also seek domestic and foreign partners to build a big financial and commercial centre. This will help Can Tho raise wholesale and retail sales to VND83.2 trillion (US$3.96 billion) in 2015 and VND150 trillion ($7.1 billion) four years later.

The city will also invest in the production of its key export products (rice, seafood, garment, handicraft and pharmaceuticals) in order to earn $1.45-1.6 billion from exports in 2015 and $3 billion in 2019.

As for agriculture, which is projected to make up 2.5 per cent of the city's economy by 2020, some VND3.2 trillion ($150 million) will be invested to raise the share of hi-tech production to 15 per cent of total agricultural output by 2015 and 35 per cent by 2019.

Between 2015 and 2017, three hi-tech agricultural parks will be built in Thoi Lai and Co Do districts and 12 projects will be implemented to develop quality rice strains, breed fish and shrimp for aquaculture and expand safe fruit and vegetable cultivation. The application of international standards in agriculture when it comes to management, harvest and preservation is also a priority.

This year, Can Tho aims for VND12.26 trillion ($584 million) in agricultural production value, including VND1.8 trillion ($87.6 million) from high-tech production. — VNS

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