Khanh Hoa is a southern central coast province that faces the vast ocean. It has a lot of famous historical and cultural relics and picturesque landscapes, and has a well-trained workforce, with many graduating from university level or higher. In recent years, the province has mobilised many domestic and foreign funds for its three key economic areas (Cam Ranh Bay, Van Phong Economic Zone and Nha Trang City). Khanh Hoa has ample opportunities to attract domestic and foreign investors for development cooperation. Vietnam Business Forum Magazine has an interview with Mr Le Duc Vinh, Chairman of Khanh Hoa Provincial People’s Committee, to better understand local advantages. Han Luong reports.
In the past five years, Khanh Hoa has witnessed marked changes, especially in local socioeconomic infrastructure. Could you please tell us more about this?
At the end of 2017, Typhoon Damrey caused serious damage to the province. But with the ultimate determination, Khanh Hoa continued to develop and achieved important results in 2016-2017. Its gross regional domestic product (GRDP) expanded an average of 8.6 per cent a year and GRDP per capita increased 7.8 per cent on average. The economic pattern was restructured toward the right track, with the share of services, industry and construction making up 80.75 per cent, and the share of agriculture, forestry and fishery accounting for 9.76 per cent. The tourism industry continued to thrive, expanding annually by 20-30 per cent on average. The province’s tourism revenue reached VND17,000 billion in 2017, up 30.8 per cent against 2016. The commodity export value was US$2.43 billion in 2016 - 2017, accounting for 26 per cent of the export value of the Southern Central Coast and the Central Highlands, just after Da Nang City.
Total social investment capital was over VND68.7 trillion in 2016 - 2017, rising an average of 15 per cent a year. Important traffic works like Nha Trang - Dien Khanh (Cao Ba Quat - Cau Lung section) and Phong Chau Road were basically completed and put into use. In addition, Khanh Hoa is actively speeding up the construction of a number of other major projects such as Runway No. 2 and T2 Terminal at Cam Ranh International Airport; Nha Trang urban, commercial, service, financial and tourism centre; and Bac Van Phong Special Administrative - Economic Zone construction project, submitted to the Government for approval. Besides, Khanh Hoa is actively promoting and strengthening deep, practical cooperation with foreign provinces in Laos, Cambodia, France, South Korea, Russia and others.
Could you describe the solutions and efforts that Khanh Hoa province has taken to develop amid growing market competition, to sustain economic development growth and ensure social security?
The Provincial People’s Committee issued an action plan for implementation of the Resolution of the 17th Provincial Party Congress. The province also effectively carried out government mechanisms and policies to support enterprises to tackle difficulties in industrial production and services. Furthermore, we also helped local people borrow money for commercial fishing, aquaculture, cattle and poultry husbandry. This made a significant contribution to increasing agricultural products and accelerating the development of agricultural and processing companies. Moreover, the province has strengthened cooperation with credit institutions to seek measures to assist businesses to access loans for business operations, create jobs for people and increase revenue for the State Budget. At the same time, it stepped up exports and convinced manufacturing companies and consumers to restrict the use of imported goods and use more locally made goods.