Prime Minister Pham Minh Chinh has signed a decision to approve a development plan for the northcentral and central coastal region for the 2021 to 2030 period with a vision towards 2050.
According to the plan, the northcentral and central coastal region will develop at least two urban areas by 2050, as well as a number of large industrial and service hubs which are on a par with the Asian region whilst developing civilized rural areas imbued with national cultural identity.
As a means of achieving these goals, priorities will be given to accelerate the region’s economic restructuring in association with innovating the growth model towards developing marine economic sectors, improving the investment environment, and devising specific policies for regional development.
Furthermore, the plan is also aimed at developing economic corridors along the north - south and east - west axes in a bid to effectively connect seaports, economic zones, airports, international border gates, coastal urban areas, and economic centres.
Under the scheme’s development orientations, the northcentral and central coast regions will develop highly competitive industries, become deeply involved in the global value chain, and focus on developing a number of green and processing industries and some emerging sectors with the aim of raising the proportion of contribution of the industrial sector to the region's Gross regional domestic product (GRDP) to between 25% and 35%.
Moreover, the plan focuses on developing the refining and petrochemical industry, as well as producing refined petroleum products in such localities as Thanh Hoa, Quang Ngai, Khanh Hoa, and Phu Yen, while simultaneously prioritising renewable energy production in Quang Binh, Quang Tri, Quang Nam, Quang Ngai, Binh Dinh, Ninh Thuan, and Binh Thuan.
Regarding the service sector, the region aims to turn tourism into a key economic industry and become the country’s key tourism area moving forward.