Eastern Quang Nam: motivation for provincal economic development

QNN |

(QNO) - The strategy of socio-economic development in the Eastern Quang Nam was planned by the local authorities 20 years ago.

Dien Nam – Dien Ngoc Industrial Park
Dien Nam – Dien Ngoc Industrial Park
 

Achievements from Eastern Quang Nam

Eastern Quang Nam has completely changed so far. Coastal urban regions have gradually been shaped. The region of Eastern Quang Nam used to be a place of aid receipt but its budget now accounts for 80% of all Quang Nam province’s revenue. It becomes a driving force for economic development in Central Coastal Vietnam. Quang Nam is one of 15 provinces and cities nationwide regulating their budget to the Central Government from 2017.

Industrial Parks

Dien Nam - Dien Ngoc Industrial Park is one of the earliest industrial parks in the eastern region of Quang Nam. It covers an area of over 400 hectares, attracting nearly 400 million USD of investment. Chu Lai Open Economic Zone covering an area of 27,000 hectares is a center for automotive industry, helping Quang Nam, an agricultural province turn into a province of industry and services.

Currently, large-scale projects in Eastern Quang Nam have created more than 50,000 jobs, contributing to the local  economic restructuring.

A factory in Chu Lai Open Economic Zone
A factory in Chu Lai Open Economic Zone
 

Other large-scale projects

In addition to high-class hotel projects in Dien Ban and Hoi An, a series of large-scale resort and entertainment projects are being built in Duy Xuyen and Thang Binh districts with a total invesment capital of more than 4 billion USD, the largest foreign investment in Quang Nam. Moreover, tens of thousands of billion Vietnam dongs are being invested in Eastern Quang Nam.

The effective inter-regional transport system such as seaports and airports has contributed to the strong development of Quang Nam’s economy.

Last year, the adjustment of general planning of the Chu Lai Open Economic Zone by 2035, towards 2050 was approved by the Prime Minister of Vietnam. Accordingly, Eastern Quang Nam will be a multidisciplinary marine economic zone, key economic region in Central Vietnam.