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>> Red River Delta industrial zones attracted 390 FDI projects in 2023
| Deputy Minister of Industry and Trade Nguyên Sinh Nhât Tân speaks at the conference. |
| Photo: VNA/CVN |
The content was widely discussed by delegates at the Conference on Trade Promotion and Import and Export Development in the Red River Delta Region, organized on June 5 by the Trade Promotion Department of the Ministry of Foreign Affairs. Industry and Commerce.
According to Deputy Minister of Industry and Trade Nguyen Sinh Nhât Tan, the Red River Delta is an important political, economic, cultural, social, defense, security and foreign affairs zone of the country. It is the gateway to the North of the country and ASEAN to connect with China, the largest market in the world. It is also an important bridge in international economic exchanges.
The region still maintains high growth rates and strong economic restructuring. In 2023 alone, its growth rate reached 6.28%, placing it in 3e rank out of six economic zones. Per capita income reached 131.9 million VND, ranking second in the country. In the first quarter of 2024, the region’s average GDP reached 6.3% (national average 5.66%). In 2023, the region’s foreign trade reached over 260.88 billion USD, the highest among the six economic zones, accounting for 38% of the national total, down nearly 12.25 billion USD per year. compared to 2022 due to the difficult context of global trade. The attraction of foreign investments also saw a significant result, with 17.382 billion USD.
Challenges to overcome
However, the Red River Delta faces problems. Its economy does not measure up to its potential, its assets, its geographical location and its particularly important role. Localities develop unevenly and rely heavily on capital and labor.
In addition, the region’s manufacturing industries with modern technologies represent a small proportion. Global economic restructuring has borne fruit, but remains slow. In addition, the region has not yet formed value chains and made breakthroughs in the development of economic zones, industrial zones and free trade zones.
Furthermore, areas of concentrated agricultural production have not yet been established.
Speaking at the conference, Nguyen Kieu Oanh, deputy director of Hanoi’s Department of Industry and Commerce, said the city promotes trade and export ties, especially in some industrial fields where demand of products is high.
| Photo: VNA/CVN |
The goal by 2025 is to have around 1,000 companies operating in industrial subcontracting in Hanoi, of which 40% have production systems and products that meet international standards, sufficient supply capacity and participating to the global production network of multinational companies in Vietnam.
In the coming times, the city will continue to coordinate with ministries, branches and localities to implement solutions to develop the Hanoi – Hai Phong, Hanoi – Bac Ninh – Hai Duong – Quang Ninh, Hanoi – industrial corridors. Vinh Yên – Viêt Tri, Hanoi – Lang Son, the coastal economic belt of Quang Ninh – Hai Phong – Thai Binh – Nam Dinh – Ninh Binh and the national road axis No. 10, said Nguyên Kiêu Oanh.
On the other hand, Hanoi will form industrial and urban zones, strengthen industrial clusters and specialized industrial zones. The city will continue to deploy mechanisms and policies to support businesses in priority industrial sectors, industrial subcontracting, import and export according to the plans and programs set by the city, said Nguyên Kieu Oanh.
Solutions
In order to create a breakthrough in promoting the important position and role of the Red River Delta and more effectively exploit its development potentials, Deputy Minister Nguyên Sinh Nhât Tân affirmed the need for solutions to promote science, technology and production chain linkages, to improve the value of industrial products and regional linkages. The region must therefore maximize its resources and effectively implement a revolutionary action program.
In addition, the functional units of the Ministry of Industry and Commerce should discuss and propose measures to resolve the problems encountered by localities in the region in their import and export activities, development cooperation and take advantage opportunities in foreign markets and promote trade.
The Red River Delta includes 11 cities and provinces: Hanoi, Hai Phong, Hai Duong, Bac Ninh, Vinh Phuc, Hung Yên, Thai Binh, Nam Dinh, Hà Nam, Ninh Binh and Quang Ninh. With an area of 14,806 km², it is the second largest delta in the country, where more than 21 million people live, or 22% of the national population.
This region connects the North-West of the country to the Northern Center and is easily accessible from all other corners of the country.
Home to Hanoi, the capital, the Red River Delta is the economic, scientific-technical and cultural heart of the country. This region is characterized by dynamic economic development and vast market space.
VNA/CVN
