Northern economic region must sustain as major economic locomotive
18:27 | 11/10/2019

VGP – Prime Minister Nguyen Xuan Phuc has signed a Directive on solutions to spur growth and sustainable development in the key Northern economic region grouping seven cities and provinces.

Under the Directive, the Government chief tasked the region to continue to sustaining its role as one of the two leading economic engines of Viet Nam.

The region must be the pioneer in implementing the country’s breakthroughs and growth model transformation.

To achieve the above goals, the Government chief assigned the Ministry of Planning and Investment to mull over amendments to laws on investment and enterprises to create legal grounds for selective attraction of foreign investment, giving priorities to high-tech and environmentally friendly projects.

The Ministry is also responsible for designing regional coordination mechanism to lay foundation for sustainable development of the whole region.

Meanwhile, the Ministry of Transport was assigned to develop a planning scheme for Lao Cai-Ha Noi-Hai Phong railway project and report to the Prime Minister in December this year.

It is also tasked to coordinate with municipal and provincial People’s Committees to encourage public-private partnership investment and mobilize other financial resources for infrastructure development in the region.

The region, comprising of Ha Noi, Hai Phong, Quang Ninh, Hai Duong, Hung Yen, Vinh Phuc, and Bac Ninh, account for 35.53% of national GRDP, 32% of national GDP, and 31% of Viet Nam’s total export values./.

By Ngoc Van

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