Forum seeks solutions to boost growth of northern midland-mountainous region
With a special strategic location and great economic development potential, the northern midland and mountainous region needs to roll out suitable measures to lure more investment, thus optimising its advantages to rise stronger, heard a forum held by the Vietnam Chamber of Commerce and Industry (VCCI).
Hanoi (VNA) – With a special strategiclocation and great economic development potential, the northern midland andmountainous region needs to roll out suitable measures to lure more investment,thus optimising its advantages to rise stronger, heard a forum held by theVietnam Chamber of Commerce and Industry (VCCI).
Addressing the event, VCCI Vice Chairman Hoang Quang Phong said that thenorthern midland and mountainous region is currently still a poor area withpoor regional connectivity.
According to the Government’s plan for the 2021-2030 period,the region’s gross regional domestic product (GRDP) is expected to expand 8-9%per year. In 2030, the region’s economic scale is hoped to hit about 2.1quadrillion VND (85.97 billion USD), with a per capita GRDP of 140 million VND,and State budget collection of 190 trillion VND.
This ambitious target is feasible and reachable, said Phong,stressing that a new mindset, new vision and development roadmap will help theregion make breakthrough growth in the future.
Hoang Quoc Khanh, Permanent Vice Chairman of the People’sCommittee of Lao Cai province, said that one of the reasons behind slow economicgrowth of the region is poor transport connections among regional localities,which hinders trade and investment activities in the region.
Khanh proposed that the Government pay greater attention to theimplementation of major projects on road, rail, waterway and air transportinfrastructure systems to promote regional connectivity.
Participants evaluated the region’s policies, planning and development connection in the region and pointed to difficulties and challengesfacing the region, while highlighting investment opportunities for businessesand investors and give suggestions on solutions to promote the region’ssustainable growth to achieve the target set by the Government.
Hoang Truong Giang, Deputy Director of the Department of Regionaland Local Economy under the Party Central Committee’s Economic Commission pointedto three problems of the region - slowplanning, poor transport infrastructure system, and slow administrative reformand improvement of the local investment and business environment.
Giang underlined the need for close coordination amongministries, regional localities and businesses in untangle knots, thus faciliating investment flows into the region./.
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An overview of the forum (Photo: VNA) 
