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Wednesday, October 5, 2022

Economic corridors along North-South expy to fuel growth

By Van Phong

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HCMC – The Ministry of Planning and Investment has recommended the Government prioritize the development of economic corridors along the North-South Expressway and coastal roads so that these fast-growing regions can spearhead the nation’s socio-economic development.

The Government should channel resources intensively in key regions with favorable development conditions, making these regions a driving force to boost the country’s economy, according to Minister of Planning and Investment Nguyen Chi Dung at a national master plan appraisal conference held on September 14.

The nation’s important regions include the economic triangle encompassing Hanoi City, Haiphong City and Quang Ninh Province, and the southern industrial quadrilateral comprising HCMC and three neighboring provinces — Binh Duong, Dong Nai and Ba Ria-Vung Tau.

The coastal economic corridor that consists of Danang, Thua Thien-Hue, Quang Nam and Quang Ngai and the triangle in the Mekong Delta between Can Tho, An Giang and Kien Giang Province will be bound with the regional nuclei of Danang and Can Tho, respectively.

These economic corridors will be closely integrated with the North-South and East-West traffic axes, with a road connectivity system linking airports, seaports and border gates to metropolitan regions and regional cities.

The North-South traffic axis in the country’s east, together with two East-West corridors, Lao Cai-Hanoi-Haiphong-Quang Ninh and Moc Bai-HCMC-Vung Tau, are aimed at creating the foundation for the North-South economic corridor.

The country will have over 5,000 kilometers of expressways by 2030 and over 9,000 kilometers by 2050, according to the national planning goal.

An express railway system is also being proposed.

Vietnam’s GDP growth rate is expected to reach some 7% per year in 2021-2023 and 6.5-7% per year between 2031 and 2050.

The southeast (32.1%) and the Red River Delta (29.4%) in the nation’s north are the economic regions that contribute the most to the country’s total value. On the other hand, rates in the Central Highlands and northern mountainous provinces remain modest, at 3.6% and 8.5%, respectively.

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