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Prime Minister lauds Quang Nam’s growth record

Quang Nam, March 25 (VNA) - Prime Minister Nguyen Xuan Phuc has praised the residents of Quang Nam for their efforts in making the central province one of 15 localities with the biggest contributions to the State Budget in 2016.

He made the laudatory comments on March 24 while attending the 20th anniversary of the province’s re-establishment, when it separated from former Quang Nam-Da Nang province, as well as the 42nd anniversary of the Quang Nam Liberation Day.

“The province has witnessed rapid socio-economic development over past decades. It had a GDP of just 607 billion VND (26.6 million USD) in 1997, but this has grown to 20 trillion VND (878 million USD) in 2016,” the PM said.

“The province was once one of the poorest localities in the country, but now it has joined the ranks of the top contributors to the state budget. Quang Nam no longer needs to receive aid from the Government,” he added.

He noted that the province changed its economic structure from a predominantly agricultural economy to one where the industrial and service sector accounted for 88 per cent of its GDP.

The PM advised the province to boost tourism as a key industry because it has two UNESCO world heritage sites – My Son Sanctuary and Hoi An City - as well as the World Biosphere Reserve, Cham Island.

Phúc presented the province with the Independence Order First Class for the great contribution it had made to national development over past decades.

Quang Nam Party secretary Nguyen Ngoc Quang said the province had seen face-lifting growth in the past 20 years.

He said Quang Nam, which once drew 70 per cent of its budget from the State Treasury, started contributing to it after 20 years of development.

Last year, the province began construction of the Nam Hoi An Casino Resort Project in the UNESCO heritage city of Hoi An.

With total investment of 4 billion USD, the project will become Vietnam’s second largest casino resort after the Grand Ho Tram Strip Resort and Casino in the southern province of Ba Ria-Vung Tau, Do Xuan Dien, head of the management board for the Chu Lai Open Economic Zone, told Vietnam News.

Nam Hoi An was among the 12 projects that received investment certificates in Quang Nam last year.

Quang Nam People’s Committee Chairman Dinh Van Thu said the new licensing process was part of the province’s efforts to establish a reliable partnership with investors, and to accelerate the progress and efficiency of its investments.

The Truong Hai Automobile JSC (Thaco) has also begun work on expanding the Truong Hai – Chu Lai Mechanical Automobile Industrial Zone with an investment of 794 billion VND (35.3 million USD) in Quang Nam. The company has invested US$400 million in building the Chu Lai – Truong Hai Industrial Complex, which has a logistics centre, car production lines, a vocational training college, a seaport as well as a shipping service.