Prime Minister orders action to facilitate development of the south-eastern region

The south-east region recorded decent growth in the first seven months of 2024, but still fell short of expectations as a key and leading economic region for the country. Its economic growth was 5.58% during the period, lower than the national average and higher only than the Central Highlands, the council said.

Meanwhile, the region’s state budget revenue exceeded VND391 trillion (nearly $15.6 billion), accounting for 38.1 percent of the country’s total and second only to the Red River Delta. Exports totaled $59.2 billion, accounting for 31 percent of total foreign shipments and second only to the Red River Delta. Of the six economic regions, the Southeast recorded the largest number of businesses established and re-established between January and July, 58,246 – an increase of 9.8 percent, the statistics showed.

With regard to the Regional General Plan for 2021-2030 with a perspective until 2050, approved by the Prime Minister on 4 May this year, the Ministry of Planning and Investment is developing an implementation plan for the general plan and collecting opinions from interested parties in order to improve it.

Prime Minister Chinh, who is also Chairman of the Coordinating Council, said recent socio-economic development results continue to reflect the region’s important role as Vietnam’s economic engine and a pioneer of reform, creativity, dynamism and development.

All six localities, namely HCM City and Ba Ria Provinces – Vung Tau, Binh Duong, Binh Phuoc, Dong Nai and Tay Ninh, have completed their master plans for review. Five of the six master plans have been approved by the Prime Minister.

Appreciating the region’s contribution to the country’s socio-economic development, the government leader stressed that the region still faces certain shortcomings, difficulties and challenges.

Taking this into account, he asked ministries, sectors and local governments to make efforts to maintain macroeconomic stability, promote growth, curb inflation, ensure basic economic balance, and control public debt, government debt and excessive budget expenditure.

Ho Chi Minh City in particular needs to quickly complete its master plan so that it can be submitted to the government for approval.

Prime Minister Chinh asked them to analyze legal obstacles to propose amendments, especially those in the Public Investment Law, accelerate the disbursement of public investment funds, use public investment to attract private investment, and mobilize all resources for development investment.

He added that it is important to support the three traditional growth drivers, i.e. investment, exports and consumption, as well as new ones, such as innovation, science and technology, green transformation, digital transformation and new industries such as semiconductors, artificial intelligence and cloud computing.

He asked for close coordination between ministries, sectors and localities to resolve difficulties and facilitate development. In particular, they must promote the disbursement of public investment, the effective application of the Fourth Industrial Revolution and the training of high-quality human resources.

In order to ensure the effective implementation of the Regional Master Plan and maximize the potential and advantages of the Southeast, he requested them to carry out assigned tasks with the highest quality and quickly complete studies for regional and inter-regional projects, including the Ho Chi Minh City International Financial Centre, the Ba Ria-Vung Tau Free Trade Centre, the section of the North-South Expressway running through the region, the Ho Chi Minh City Urban Railway and the Bien Hoa-Vung Tau Railway.

Premier Chinh expressed confidence that with the strong determination, support and efforts from ministries, central sectors, enterprises and people, the southeast region will develop in line with the vision set out in the Regional Master Plan, and local party organizations, administrations and people will achieve better results in fulfilling their set tasks and goals.

The south-east region recorded decent growth in the first seven months of 2024, but still fell short of expectations as a key and leading economic region for the country. Its economic growth was 5.58% during the period, lower than the national average and higher only than the Central Highlands, the council said.

Meanwhile, the region’s state budget revenue exceeded VND391 trillion (nearly $15.6 billion), accounting for 38.1 percent of the country’s total and second only to the Red River Delta. Exports totaled $59.2 billion, accounting for 31 percent of total foreign shipments and second only to the Red River Delta. Of the six economic regions, the Southeast recorded the largest number of businesses established and re-established between January and July, 58,246 – an increase of 9.8 percent, the statistics showed.

With regard to the Regional General Plan for 2021-2030 with a perspective until 2050, approved by the Prime Minister on 4 May this year, the Ministry of Planning and Investment is developing an implementation plan for the general plan and collecting opinions from interested parties in order to improve it.

Prime Minister Chinh, who is also Chairman of the Coordinating Council, said recent socio-economic development results continue to reflect the region’s important role as Vietnam’s economic engine and a pioneer of reform, creativity, dynamism and development.

All six localities, namely HCM City and Ba Ria Provinces – Vung Tau, Binh Duong, Binh Phuoc, Dong Nai and Tay Ninh, have completed their master plans for review. Five of the six master plans have been approved by the Prime Minister.

Appreciating the region’s contribution to the country’s socio-economic development, the government leader stressed that the region still faces certain shortcomings, difficulties and challenges.

Taking this into account, he asked ministries, sectors and local governments to make efforts to maintain macroeconomic stability, promote growth, curb inflation, ensure basic economic balance, and control public debt, government debt and excessive budget expenditure.

Ho Chi Minh City in particular needs to quickly complete its master plan so that it can be submitted to the government for approval.

Prime Minister Chinh asked them to analyze legal obstacles to propose amendments, especially those in the Public Investment Law, accelerate the disbursement of public investment funds, use public investment to attract private investment, and mobilize all resources for development investment.

He added that it is important to support the three traditional growth drivers, i.e. investment, exports and consumption, as well as new ones, such as innovation, science and technology, green transformation, digital transformation and new industries such as semiconductors, artificial intelligence and cloud computing.

He asked for close coordination between ministries, sectors and localities to resolve difficulties and facilitate development. In particular, they must promote the disbursement of public investment, the effective application of the Fourth Industrial Revolution and the training of high-quality human resources.

In order to ensure the effective implementation of the Regional Master Plan and maximize the potential and advantages of the Southeast, he requested them to carry out assigned tasks with the highest quality and quickly complete studies for regional and inter-regional projects, including the Ho Chi Minh City International Financial Centre, the Ba Ria-Vung Tau Free Trade Centre, the section of the North-South Expressway running through the region, the Ho Chi Minh City Urban Railway and the Bien Hoa-Vung Tau Railway.

Premier Chinh expressed confidence that with the strong determination, support and efforts from ministries, central sectors, enterprises and people, the southeast region will develop in line with the vision set out in the Regional Master Plan, and local party organizations, administrations and people will achieve better results in achieving the set tasks and goals.

Source: VNA