National Assembly Chairman Vương Đình Huệ, Deputy Prime Minister Trần Hồng Hà and investors in Phú Yên Province. VNA/VNS Photo

PHÚ YÊN The south-central province of Phú Yên is poised to develop its economy by bringing into full play maritime advantages based on pillars of industry, high quality service tourism, high-tech agriculture, and maritime transport and logistics, according to the province’s development master plan announced on Sunday.

National Assembly Chairman Vương Đình Huệ and Deputy Prime Minister Trần Hồng Hà attended the announcement ceremony.

Phú Yên Province will be developed based on the distinct characteristics of its natural and cultural resources, according to the master plan.

Local authorities plan to identify products with distinct characteristics, high economic value and competitiveness in marine and industrial economics, especially metallurgical industry, refining industry, petrochemical industry and energy, as well as tourism and high-tech agriculture.

The province looks to make breakthrough developments in coastal areas and looks towards rapid and sustainable development of the delta, mountainous areas and the eastern and western regions.

It aims to narrow the gap between dynamic areas and areas with difficult socio-economic conditions.

​According to the plan, Phú Yên will strive to become a developing locality towards modernisation and sustainability by 2030 and successfully realise targets of digital transformation, improving business and investment climate to become an attractive destination of big domestic enterprises and foreign investors.

Tạ Anh Tuấn, Chairman of the provincial People’s Committee, said by 2035, Phú Yên will be able to balance the State budget. By 2050, the province will have a diverse and prosperous economy, and become a marine economic centre of the central coast region.

He said Phú Yên will make firm efforts in administrative reform, enhancing the business investment environment, and gradually improve its rankings on indicators such as the Provincial Competitiveness Index, the Provincial Governance and Public Administration Performance Index, Public Administration Reform Index and Satisfaction Index of Public Administrative Services.

The province will take an active role in calling for investment from large, strategic domestic and foreign investors to introduce and promote the investment environment, potential and advantages of the province, he said.

At the same time, the province will make efforts to establish synchronous infrastructure and improve the quality of human resources, especially high-quality human resources, focusing on important industries such as tourism and industry associated with seaport advantages.

The southern Phú Yên economic zone and Bãi Gốc Port will be the driving force to promote the province's socio-economic development and turn the province into a diverse economy.

Addressing the ceremony, Deputy PM Trần Hồng Hà said the master plan will create impetus for the province in the new development era and serve as a general planning shaping the province’s growth orientations.

He said the province must learn from the experience of other localities in the region and look for innovative unique ways forward.

With huge potential for renewable energy (wind power, solar power, new forms of hydrogen energy, green ammonia), the province must have breakthrough solutions to attract investment in the fields of metallurgy, refining, petrochemicals and shipping.

The Deputy Prime Minister agreed with the orientation of making local tourism a key economic sector and a driving force for socio-economic development.

"This is a great advantage of the province but it is necessary to seek innovate ways,” he said.

The province needs to link supportive services such as transport, accommodation, shopping and healthcare to create added value to tourism, and at the same time, exploit the potential of cultural and natural heritage to develop green tourism, he said.

Regarding digital transformation in tourism, he suggested electronic payment for travel ticket, accommodation booking, cuisine and other services, and promoting natural and cultural beauty online.

As a coastal locality directly affected by climate change and sea level rise, Phú Yên needs to integrate adaptation scenarios into plans while focusing on multi-purpose infrastructure systems, he said.

Also at the ceremony, the provincial leaders granted investment policy certificates to 14 investors with a total registered capital of nearly VNĐ10.5 trillion and five investment research memorandums with a total registered capital of VNĐ128.8 billion.​ VNS​