Khanh Hoa Province: Confident, Dynamic during Economic Integration

Could you please talk about the notable recent achievements of Khanh Hoa province? How is the performance of the three key economic development zones of Van Phong Bay, Nha Trang Bay and Cam Ranh Bay?
Endowed with natural advantages together with efforts of the local authorities, enterprises and the people to implement resolutions of the Provincial Party Committee, the Provincial People's Council and People's Committee, the socio-economic situation of Khanh Hoa province has continuously and stably been growing in recent years. Specifically, the province is enjoying high and stable GDP growth of over 10 percent. The value of the industrial production continually expands (being one of provinces and cities with the highest growth rate in the country), State budget revenues has risen over the years, with the first time exceeding the threshold of VND5,000 billion in 2008 and it reached VND6,000 billion in 2009. The economic structure is being shifted towards a higher proportion of industry, construction, service and tourism and decreasing a percentage of agriculture, forestry and fisheries in GDP. The investment environment is increasingly improved as administrative reform is addressing existing problems to create favourable conditions to attract more investment projects into the province. Cultural and social development situations are very good as the province has implemented new procedures to develop education, health and labour, etc. to ensure the life of the people. It particularly takes care and supports poor people and ethnic minorities in mountainous and disadvantaged areas.

Together with the socioeconomic development orientations of the province, the three economic zones of Nha Trang, Cam Ranh - Cam Lam and Van Phong have played their roles of driving forces to attract domestic and international investors. Large-scaled licensed projects are the basis to mobilise investment capital from the investors and the State Budget to carry out projects respecting infrastructure, industry, service and tourism development.

Would you mind telling us about the plan for the local economic restructuring?
The province expects to restructure its economy toward a better model, with higher proportion of industry, construction, service and tourism and lower contributions of agriculture, forestry and fisheries in GDP. The proportion of service and tourism in GDP is expected to be nearly equal to that of industry and construction. This is a favourable condition for the province to orient a modern economic development strategy.

To follow the direction set out for following years, the province continues to develop the local industrial production, with focus given to developing advantageous industries while expanding supporting industries (especially in Van Phong Economic Zone). Besides, the province will develop high-end service and tourism to meet growing demands from domestic and international visitors. Supporting infrastructure systems have been completed, including high-grade resorts, modern hotels, shopping centres, transport systems (in airway, waterway and roadway). At the same time, the province also stabilises the development of agriculture, forestry and fisheries.

How is the development plan and objective for 2010 and to 2020 to continue to be attractive for investors?
In the coming time, the important content is to develop a socio-economic development plan for Khanh Hoa province for the period from 2011 to 2015. In addition, to meet development needs in the new context, the province has implemented policies to review and adjust the master plan for socioeconomic development of Khanh Hoa province until by 2020 (Decision 251 / 2006/QD-TTg).

To realise socioeconomic development objectives, the province has outlined a number of works to be done in the near future: Adjusting the general plan for building Nha Trang City to 2025 (planning); adjusting the general plan for Van Phong Economic Zone (planning), implementing the detailed plan for building North Cam Ranh peninsula resorts (approved); carrying out the construction plan for western urban zones in Nha Trang City (approved). Simultaneously, the province will implement other approved urban construction plans.
Reported by T. Hoang- Q. Viet