Quang Nam: Open mechanisms for investment attraction

(QNO) - The master plan on socio-economic development of Quang Nam province until 2020 and a vision to 2030 has just been approved by the Prime Minister of Vietnam. Accordingly, the annual average rate of GRDP (Gross Regional Domestic Growth) of the period 2012-2025 will increase by between 9% and 10%.

Chu Lai port in Nui Thanh district, Quang Nam province

By 2030, Quang Nam will have become one of the developed provinces converging the factors of a  knowledge-based economy with development-oriented sectors such as: advanced technology, hi-quality services, hi-tech agriculture and sustainable safe environment, synchronous socio-economic infrastructure. In addition, the local lives will be improved.

At first, Quang Nam province will focus on the development of industry and construction, including infrastructure network of airports, seaports, synchronous transport infrastructure linking to industrial clusters, urban centers, and raw material areas, towards sustainable industrial development.

Hoai river in Hoi An city, Quang Nam province

Besides, the province will absolutely exploit development opportunities for an inter-regional economic network, a central key economic region and inner and outer trends in developing economies.

The province will continue to invest in building and upgrading the Chu Lai Open Economic Zone under the model of an integrated economic zone of industrial areas and export processing areas. The Chu Lai Open Economic Zone will be a motive force in the provincial socio-economic development as well as a driving force in connection and development of the central key economic region.

Along with industrial and constructional development, Quang Nam will promote the development of trade and service sectors corresponding to the local potential and advantages to meet the diverse demands in production and business. The infrastructure system is being expanded and upgraded in Hoi An, My Son, and coastal areas. The tourism space in the south will be developed to be one of the tourist centers of the country and a key economic sector of Quang Nam.

Therefore, Quang Nam needs to create appropriate, open mechanisms and policies to attract domestic and foreign investors to the province.