Utilising potential and advantages and attracting more domestic andforeign economic resources are among targets set by the northwesternregion for its robust growth, announced the Steering Committee for theNorthwest Region during an investment promotion conference in Son Laprovince of April 4.
Speaking at the event, DeputyPrime Minister Nguyen Xuan Phuc, who heads the Committee, pointed outpositive socio-economic changes in the region recently, with GDP growthrate averaging around 9.5 percent and per capita GDP reaching 24.7million VND (1,160 USD) over the last five years.
State budget collected nearly 26 trillion VND in 2014, a rise of 30percent over a year ago. Meanwhile, poverty rate lowered to 18.2percent, he noted.
Administrative reforms have also been sped up to attract and optimise investments and assistances, he said.
The northwestern region consists 12 mountainous and midland localitiesof Yen Bai, Lao Cai, Dien Bien, Lai Chau, Son La, Phu Tho, Ha Giang,Tuyen Quang, Bac Kan, Hoa Binh, Lang Son and Cao Bang, as well aswestern districts of Thanh Hoa and Nghe An provinces.
The region, having a long border with Laos and China , also playsan important role in national security-defence and foreign relations.
Director of the Ministry of Planning and Investment’s ForeignInvestment Agency Do Nhat Hoang said there were a few sizable foreigndirect investment (FDI) projects in the northwest. Currently, there were106 FDI projects in operation, with a total registered capital of 1.73billion USD.
Deputy Minister of Planning andInvestment Nguyen Van Trung confirmed that the Government was makingsignificant efforts to support the region. Last year, about 15.5trillion VND (738.10 million USD) from the State budget, or 12.5 percentof the amount extracted for national development, was reserved for thenorthwest.
In 2013, the Government also adopted amaster plan for socio-economic development of the northern mountainousarea by 2020. The plan set a GDP growth target of over 8 percent, and aGDP per capita goal of about 2,000 USD.
Deputy PMNguyen Xuan Phuc urged the region to actively improve the investmentenvironment to secure both domestic and international finances.
Well-developed infrastructure and human resources would be vital forany development breakthroughs, and localities must collaborate toachieve these general goals, he emphasised.
SteeringCommittee deputy head Truong Xuan Cu said the region was now focused oncalling for investments in mineral exploitation, forest productprocessing, border gate economic activities, and tourism.
He said many provinces have joined hands in building tours and thishas helped them promote their advantages and the mountainous villagersreduce poverty. Localities have also fostered links in education andvocational training by connecting with universities.
In thenorthwest, Lao Cai attracted the most investment capital with 875million USD, closely followed by Hoa Binh with 435.4 million USD, andSon La with 280 million USD, according to the MPI Foreign InvestmentAgency.
The Son La conference attracted more than 500participants, including policymakers, entrepreneurs, traderepresentatives and diplomats.
On the occasion, commercial banksand investors signed credit support contracts totaling 4.7 trillion VND(218.6 million USD) for 12 projects, mainly on mining, hydro-powergeneration, processing industry, transportation and farm produce.-VNA
Speaking at the event, DeputyPrime Minister Nguyen Xuan Phuc, who heads the Committee, pointed outpositive socio-economic changes in the region recently, with GDP growthrate averaging around 9.5 percent and per capita GDP reaching 24.7million VND (1,160 USD) over the last five years.
State budget collected nearly 26 trillion VND in 2014, a rise of 30percent over a year ago. Meanwhile, poverty rate lowered to 18.2percent, he noted.
Administrative reforms have also been sped up to attract and optimise investments and assistances, he said.
The northwestern region consists 12 mountainous and midland localitiesof Yen Bai, Lao Cai, Dien Bien, Lai Chau, Son La, Phu Tho, Ha Giang,Tuyen Quang, Bac Kan, Hoa Binh, Lang Son and Cao Bang, as well aswestern districts of Thanh Hoa and Nghe An provinces.
The region, having a long border with Laos and China , also playsan important role in national security-defence and foreign relations.
Director of the Ministry of Planning and Investment’s ForeignInvestment Agency Do Nhat Hoang said there were a few sizable foreigndirect investment (FDI) projects in the northwest. Currently, there were106 FDI projects in operation, with a total registered capital of 1.73billion USD.
Deputy Minister of Planning andInvestment Nguyen Van Trung confirmed that the Government was makingsignificant efforts to support the region. Last year, about 15.5trillion VND (738.10 million USD) from the State budget, or 12.5 percentof the amount extracted for national development, was reserved for thenorthwest.
In 2013, the Government also adopted amaster plan for socio-economic development of the northern mountainousarea by 2020. The plan set a GDP growth target of over 8 percent, and aGDP per capita goal of about 2,000 USD.
Deputy PMNguyen Xuan Phuc urged the region to actively improve the investmentenvironment to secure both domestic and international finances.
Well-developed infrastructure and human resources would be vital forany development breakthroughs, and localities must collaborate toachieve these general goals, he emphasised.
SteeringCommittee deputy head Truong Xuan Cu said the region was now focused oncalling for investments in mineral exploitation, forest productprocessing, border gate economic activities, and tourism.
He said many provinces have joined hands in building tours and thishas helped them promote their advantages and the mountainous villagersreduce poverty. Localities have also fostered links in education andvocational training by connecting with universities.
In thenorthwest, Lao Cai attracted the most investment capital with 875million USD, closely followed by Hoa Binh with 435.4 million USD, andSon La with 280 million USD, according to the MPI Foreign InvestmentAgency.
The Son La conference attracted more than 500participants, including policymakers, entrepreneurs, traderepresentatives and diplomats.
On the occasion, commercial banksand investors signed credit support contracts totaling 4.7 trillion VND(218.6 million USD) for 12 projects, mainly on mining, hydro-powergeneration, processing industry, transportation and farm produce.-VNA
