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- 27 / 08 / 2019 -
6 leading economic sectors in Central region

There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results.

The Central region is the sea front of Vietnam, accounting for 50% of sea front provinces of the country (14/28 provinces), with the length of the coastline of 1,900 km, accounting for 60% of that of the country, and is an important position in implementing the Strategy for sustainable marine economy according to Resolution No. 36-NQ/TW.

Marine and coastal economic sectors that the region is focusing on consist of: Marine tourism and service; construction of deep-water sea ports of international transshipment and specialized sea ports in association with industrial complexes; exploitation and processing of oil and gas; farming, exploitation and processing seafood, logistics service and fisheries infrastructure; coastal industry; renewable energy.

According to Ministry of Planning and Investment, tourism industry of the Central region is becoming smokeless industry and an engine for growth of the region. In 2018, the region attracted more than 54 million tourists, of which 11.9 million tourists are foreigners, and total revenue from tourism reached nearly VND 121,670 billion, which equivalent to 39.8% of the total foreign tourists, 32.6% of the total domestic tourists and 19.4% of total revenue from tourism of Vietnam.

By June 2019, there have been 209 FDI projects in 11 economic zones in the region with registered capital of USD 31.942 billion and realized capital of USD 24.156 billion; there have been 1005 domestic projects with registered capital of VND 587.615 trillion and realized capital of VND 258,981 trillion.

The total value of industrial production in the economic zones in the region in the first 6 months of 2019 was USD 8.213 billion; import and expert value reached USD 12.046 billion and payment for State budget reached VND 17.602 billion, etc.

However, Ministry of Planning and Investment also assesses that coastal economic development of the region facing with some difficulties. In particular, tourism business of the region is not carrying on effectively in corresponding to its potential. The infrastructure of the region is developing without same synchronicity, especially overload coastal streets, international airport in tourist center (i.e Hue and Danang) and lack of tourist ports.

Mobilized resources for developing tourism are restricted; tourism development links between localities in the region are ineffective; coordination between tourism and related industries is not tight; the lack of trained and high-quality laborers has not satisfied and kept pace with tourism development of the region.