Industry and economic development

QNN |

Quang Nam is becoming more and more important in the Central key economic region. Industry is considered the key of the province’s economic revival.

Tam Ky city- Quang Nam province. Photo:congthuong.vn
Tam Ky city- Quang Nam province. Photo:congthuong.vn
 

In the period of 2015-2020, Quang Nam economy was stably developing at good level. Its GRDP (Gross regional domestic product) increased by 6.85% a year on average. The per capita GRDP reached 63.3 million Vietnamese dongs, and the per capita income was 45.2 million dongs.

The economic structure was gradually shifted to the service sector. The share of the agricultural sector in the GRDP fell from 14.7% in 2015 to 11.49% in 2019 while the non-agricultural sectors went up from 85.3% to 88.51%. The provincial State budget revenue in the period of 2016-2020 was 104,789 billion dongs.

The Quang Nam provincial competitiveness index (PCI) was always on top 10 provinces and cities nationwide from 2016 to 2019. Particularly, it ranked 6th in 2019 with a score of 69.4 and followed Da Nang city in Central Vietnam.

Industry- development thrust

Chu Lai deep- water port. Photo: congthuong.vn
Chu Lai deep- water port. Photo: congthuong.vn
 

Industry plays an important role in Quang Nam economic development. It accounts for a larger and larger proportion in the economic structure, creating more and more jobs, increasing the locals’ income, contributing to life stability and social security.

In Quang Nam, several policies have been issued, supporting the development of hi-tech industry and supporting industries, attracting more investment in the province.

Besides, the infrastructure construction and upgrading in industrial parks and clusters has contributed to investment attraction.

Till now, there have been 115 projects in the Chu Lai Open Economic Zone with a registered capital of nearly 44 trillion dongs, 75 projects with over 4 trillion dongs and nearly 561 million dollars in Dien Nam- Dien Ngoc Industrial Park.

According to Dr. Nguyen Dinh Cung – a member of the Prime Minister's Economic Advisory Group, former Head of the Central Institute for Economic Management, Quang Nam is gradually becoming an industrial centre of Central Vietnam.

The goals of Quang Nam in the period of 2021-2025 are the annual average economic growth rate of 7.5 - 8% and the per capita GRDP of 110 - 113 million dongs by 2025.