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Prime Minister Nguyen Xuan Phuc (Photo: Saigon Giai phong)

Prime Minister Nguyen Xuan Phuc has directed the relevant ministries and localities to promote the development of key economic regions in Vietnam. This is to accelerate economic recovery in the context of COVID-19 pandemic's impact, according to VGP News. .

Regarding this request, the Ministry of Planning and Investment shall assume the major responsibility and coordinate with the concerned ministries, agencies and localities in drafting the Government's Resolution on tasks and solutions to promote the development of key economic regions. The Ministry of Planning and Investment shall promote the recovery of the economy in the context of the COVID-19 pandemic's impact. Also, the Ministry shall report to the Government at the Government's regular meeting in June 2020.

Specifically, the Prime Minister noted that it is essential to urgently review and finalize the regional planning of key economic regions and provincial plans for localities in key economic regions. It is necessary to ensure the remediation of current problems and promotion of potentials and strengths of each locality, facilitating key economic regions to keep serving as the locomotive for economic development of Vietnam.

Da Nang City, part of the Central Key Economic Region (Photo: Bao Van hoa)

The Prime Minister asked to prioritize the allocation of central and local budget resources. At the same time, there are specific mechanisms and policies to strongly attract social resources to develop the infrastructure system, especially in transport projects and projects against flooding, saline intrusion, erosion and coping with climate change, to promote economic development and improve efficiency. Also, relevant bodies shall focus on speeding up the implementation of a number of important road projects.

The PM also proposed for the hastening of the administrative reforms to facilitate investors. More incentives in investment and credit shall be considered to lure large-scale projects in some prioritized sectors. Action plans must also be developed to attract investment flow from the shift of the global value chain.

The Southern Key Economic Region (Photo: Bao dau thau)

The Prime Minister requested ministries and agencies to evaluate the implementation of mechanisms, policies and legal provisions on development of key economic regions. On that basis, these relevant ministries and agencies shall propose key tasks and solutions on finance, credit, industry, agriculture, commerce, services, tourism, transport infrastructure, land and natural resources, etc, Enterprise Forum reported.

In particular, the Northern Key Economic Region shall focus on attracting hi-tech, processing, manufacturing, electronics, service, banking, finance and logistics projects and create research and development centers. These centers shall help stimulate the application of technology and science and innovation.

The Central Key Economic Region shall put the marine economy development a priority. Also, the region shall develop the eco-system for the automobile industry, transport services and tourism.

Meanwhile, the Southern Key Economic Region shall attract large-scale and hi-tech projects to build up value chains.

The Mekong River Delta shall focus on growing hi-tech agriculture, agriculture processing industry, and tourism of Phu Quoc Island. Moreover, the region shall efficiently implement measures to promote the regional sustainable development and cope with climate change, reported by VNA.

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