VN to invest US $8.5 mil. in island economic development
VGP – The Government chief recently approved a plan on island economic development with the total investment of around VND 162 billion (US $8.5 million) by 2020.
The Government will pour more
investment in island economic development
The plan sets targets to restructure island economies, nurture key
industries, and raise island economies’ contribution to the national economic
growth from the current rate of 0.2% to 0.5% by 2020. In addition, island
economic growth is forecasted to surge by 14-15% by the year.
The plan will focus on infrastructure development in islands in
order to lure more investment and facilitate long-term settlement there for
economic prosperity and national defense.
Under the plan, seafood and tourism are the most advantageous sectors
for islands. Aquatic output is expected to reach
300,000-350,000 tons per year by 2020. In terms of tourism, islands are
supposed to welcome 2.7-2.8 million tourists, of which 700,000-850,000 are
foreigners.
The
plan aims to pour more investment in key islands like Phú Quốc (southern
province of Kiên Giang), Vân Đồn (northern province of Quảng Ninh ), Côn Đảo
(southern province of Bà Rịa-Vũng Tàu), Cô Tô-Thanh Lân (northern province of
Quảng Ninh), Lý Sơn (central province of Quảng Ngãi), and Phú Quý (central province
of Bình Thuận).
The Government will improve legal
frameworks, develop human resources, mobilize investment, and apply more scientific
and technological advances in making the plan a reality./.
