Prime Minister Phạm Minh Chính speaks at the meeting on the Master Plan for Vĩnh Long between 2021 and 2030 on Saturday. — VNA/VNS Photo Dương Giang

VĨNH LONG — Vĩnh Long Province must unlock its full potential to transform into a modern and prosperous province with an elevated level of development.

That remark was made by Prime Minister Phạm Minh Chính at the meeting on the Master Plan for Vĩnh Long between 2021 and 2030 on Saturday.

He said the province’s strategic location between two major economic hubs, HCM City and Cần Thơ City, is highly advantageous in terms of economic geography.

It is also a key area for agricultural production with high annual outputs of rice and fruits that serve a variety of consumers at home and abroad.

However, its economic growth is hindered by small-scale industries, slow economic restructuring, underutilisation of local advantages, underdeveloped transport infrastructure and the impact of climate change.

He urged Vĩnh Long to focus on developing sectors that suit its strengths, including high-tech agriculture and eco-tourism. The goal is to modernise agricultural practices and improve the quality of agricultural products through deep processing.

The PM stressed that for Vĩnh Long to succeed in its Master Plan, it needs to focus on six key factors, of which its inner resources are of overrding importance. He said the province should tap into these resources to go green and embrace innovative ideas.

Additionally, it's crucial to improve transport infrastructure to cut costs and create more room for growth, and accelerate administrative reforms to create a favourable environment for businesses.

He urged Vĩnh Long to waste no time in implementing the Master Plan and keep it in line with the National Master Plan. He also called for more public investment in infrastructure, especially transport systems, education and climate change efforts, to boost growth.

The Government leader also called on businesses and investors to provide regular feedback to improve Vĩnh Long's administration and engage in training programmes to create a talent pool for the province.

He urged relevant ministries and agencies to cooperate closely with Vĩnh Long in enhancing its investment climate and reducing costs for businesses and investors.

He said Vĩnh Long is well-positioned to become an investment magnet and a province with an elevated level of development that will contribute significantly to the country's prosperity.

In response, Chairman of People's Committee of Vĩnh Long Lữ Quang Ngời pledged to spare no efforts in creating a sound and transparent investment environment conducive to businesses and investors.

At the meeting, the provincial authorities granted investment approvals and investment licences to 13 projects with a total capital of VNĐ19.6 trillion (US$791 million).

Approved by the Prime Minister in late 2023, the Master Plan sets ambitious goals for Vĩnh Long, including the province positioning itself as a high-tech agricultural hub with a well-connected infrastructure network in the Mekong Delta Region by 2030.

Additionally, the province aims to reach an annual Gross Regional Domestic Product growth rate of 7.0 per cent, in which agriculture and aquaculture sectors account for 26 per cent, manufacturing and construction for 25 per cent and services for around 45 per cent.

It also aims to achieve a total export turnover of more than US$1 billion and increase the income per capita to approximately VNĐ144 million ($5,813) per year.

Other goals include trained workers reaching 75 per cent the workforce, poverty rate being well below 1 per cent and urbanisation rate hitting 100 per cent.

Vĩnh Long envisions itself by 2050 as a modern province with well-developed infrastructure systems adaptable to climate change. — VNS