Red River Delta region posts 7M growth of 7.2%

The Red River Delta region posted an economic growth of 7.21% in the first seven months of the year, higher than the national average (6.42%), the Government News quoted a report from the Ministry of Planning and Investment (MPI) as reporting.

With this achievement, the region ranks third among the six economic regions of the country.

In the Jan-July period, the region gained export revenue of over $80 billion, accounting for 35% of the country’s total, according to a report released by the MPI at a meeting of the Coordinating Council for Red River Delta Region held on August 17.

The region attracted 645 new FDI projects, with registered capital of $5.7 billion in the period.

There were 29,600 newly-established enterprises in the region in the period, accounting for 31% of the country’s total and increasing by 3.39% year-on-year.

In the period, the region led the country in terms of public investment capital disbursement, with over VND55.7 trillion ($2.2 billion).

Chairing the meeting, Prime Minister Pham Minh Chinh instructed the region to take a pioneering role in innovation, and the utilization of science-technology and results of the fourth industrial revolution.

The region should also lead the way in developing the digital economy, green economy, circular economy, sharing economy, knowledge-based economy, and night-time economy, as well as in administrative reform, PM Chinh said.

The region needs to restructure its economic sectors, and reform its growth model towards modernity, promote cultural industries, science-technology and innovation services, education-training, and health care, and develop high-tech, organic, circular agriculture, he said.

Priority should be given to major projects that would directly impact socio-economic development, along with inter-regional and international connectivity and development of new and renewable energy, the PM said.