(MPI) - Minister of Planning and Investment Nguyen Chi Dung highlighted the efforts in planning and institutional coordination for the northern midland and mountainous region, and initial positive results yielded in economic model transformations while attending the third meeting of the Coordinating Council Meeting for region on May 24.

Deputy Prime Minister Tran Luu Quang, Minister of Planning and Investment annouce the regional localities' planning decisions. Photo: MPI

The Government’s Resolution on the action plan implementing the Politburo’s Resolution No.11 on directions to intensify socio-economic development and ensure national defence and security in the northern midland and mountainous region by 2030, with a vision to 2045 sets 21 key targets, 17 projects and tasks, and 33 important infrastructure projects of the region to be implemented by 2030.

Minister Dung reported that the region has completed three projects (the Tuyen Quang - Phu Tho Expressway connecting to the Noi Bai - Lao Cai Expressway, the upgrade of Dien Bien Airport, and the Doan Hung - Phu Tho route). Currently, 15 out of 33 key regional projects are underway, and the remaining 15 are under study.

The region’s gross regional domestic product (GRDP) last year was 6.53%, higher than the other five regions and the national average. Notably, Bac Giang experienced the highest national growth at 13.5%, with significant increases also in Tuyen Quang (7.46%) and Phu Tho (7.45%).

The regional GRDP reached 896 trillion VND, with industrial and service sectors accounting for 78% of the GRDP structure. The total budget revenue of the region in 2023 reached 88 trillion VND, exceeding estimates by 17%, with 10 out of 14 localities surpassing their revenue targets. The export-import turnover amounted to approximately 67 billion USD, a 39% increase from 2022.

The northern midland and mountainous region attracted 143 new FDI projects last year with a total registered capital of about 1.9 billion USD. There are 23 active industrial zones in the region, with an occupancy rate of 65%, higher than the national average of 54%. The region also boasts over 5.4 million hectares of forest, with a coverage rate of 54%, surpassing the national average of 42% and achieving the government’s resolution targets.

As of the first quarter of 2024, the regional economy remains stable with a GRDP growth rate of 6.54% (leading the country), export-import turnover reaching 33 billion USD, and national budget revenue achieving 26% of the estimates.

Minister of Planning and Investment Nguyen Chi Dung speaks at the conference. Photo: MPI

Regarding the implementation of some key regional connectivity projects, Minister Dung reported that the Prime Minister has prioritised resource allocation for major expressway projects, significantly transforming the region’s infrastructure.

Accordingly, the Tuyen Quang - Phu Tho expressway project connected to the Noi Bai - Lao Cai expressway was largely completed and went operational on December 24, 2023, adding about 40 km of four-lane expressway.

For the Dong Dang (Lang Son) - Tra Linh (Cao Bang) expressway under the BOT format (Build-Operate-Transfer), with a total length of 121 km and phase one covering about 93 km, construction started on January 1 this year, with completion expected in 2025, although it currently faces some challenges.

The Hoa Lac - Hoa Binh - Moc Chau (Son La) expressway project has not yet commenced and is behind schedule.

The investment project for the Sa Pa Airport in Lao Cai province, a BOT project of category 4C with a capacity of 1.5 million passengers per year and a total investment of 4,208 billion VND, of which 2,103 billion VND is state capital, has completed phase one of land clearance.

Additionally, other ministries and agencies are studying investment options for several projects, including a connection from Ha Giang to the Noi Bai - Lao Cai expressway, the Doan Hung - Cho Ben route, and phase two of the Noi Bai - Lao Cai expressway./.

Bao Linh

Ministry of Planning and Investment