The Red River Delta leads the country’s development in terms of socio-economic and infrastructure growth, according to the Ministry of Planning and Investment.
| The meeting on the Red River Delta's socio-economic growth on May 9. Photo: VGP |
A report presented by the ministry at the Red River Delta Coordinating Council meeting today (May 9) showed that the gross regional domestic product (GRDP) growth of all 11 cities and provinces hit 6.28% in 2023. The figure was 1.24 times the country’s average of 5.05%.
The per capita GDP in 2023 for the Red River Delta region was VND131.9 million (US$5,183), and the budget revenue in 2023 was estimated at VND720 trillion (US$28.3 billion), ranking first among all six regions in the country.
The economic value of the region was reported to have reached VND3.1 trillion (nearly $122 million), accounting for 30% of the country's total economic value.
Foreign direct investment (FDI) in the Delta was estimated at $17.4 billion last year. Five of the 11 regional provinces and cities were among the top 10 nationwide in FDI inflows.
Four provinces and cities are among the 10 localities with the most developed infrastructure in the country. Quang Ninh Province ranks first, Hanoi fourth, Haiphong seventh and Bac Ninh eighth.
Recently, 11 provinces and cities in the delta have inaugurated seven out of 20 key infrastructure projects, including Ring Road No. 4 and Ring Road No. 5 for the capital region, the upgrading of National Highway 4B between Quang Ninh and Lang Son provinces, the expansion and upgrading of the Noi Bai International Terminal, and the construction of the Nhon-Hanoi metro line.
Regarding the Ring Road No. 4 project, the investors (Hanoi, Hung Yen and Bac Ninh provinces) have started six out of seven component projects, acquired 95.2% of the land for construction, and assisted local people in resettlement.
In addition, provinces and cities are working to start the construction of eight projects, including the Ninh Binh-Nam Dinh-Haiphong highway, the Hanoi South Thang Long-Tran Hung Dao metro line, the Hanoi-Vinh section of the North-South High-Speed Railway, the railways connecting Lao Cai, Hanoi, Haiphong and Quang Ninh.
| Prime Minister Pham Minh Chinh addresses the meeting. Photo: VGP |
Addressing the conference, Prime Minister Pham Minh Chinh urged the provinces and cities in the Red River Delta to study specific mechanisms and policies for the development of the Red River Delta region and inter-regional connectivity and propose them to the relevant authorities in the near future; strengthen investment promotion and attract FDI, especially in technology; promote PPP investment, especially in the development of regional and inter-regional transporta infrastructure projects; foster the synchronized development of the socio-economic infrastructure system, giving priority to transportation; strengthen links between urban chains, supply chains, logistics and high-end services.
He asked the Delta provinces and cities to submit a master plan for regional development to the government in the second quarter of 2024.
He said the Red River Delta should pay attention to further developing railways and roads and expanding airports to support socio-economic growth.
Human resources training, science and technology, administrative reform, improving the business environment and attracting international investors are the keys to the region's further development, he added.
The Premier listed 12 key words for future regional growth, including tradition, connectivity, breakthrough, comprehensiveness and sustainability.
He urged local governments and their agencies to improve their performance. "We should not trade social and environmental sustainability for mere growth," he said, adding that communication is important to make people and businesses aware of policies.
