Prime Minister Nguyen Tan Dung has decided to establish a Key Economic Zone in the Mekong Delta.
The planned KEZ, which includes southern provinces of An Giang, Kien Giang and Ca Mau as well as Can Tho City, is expected to have a growth rate 1.25 times higher than the national GDP figure in the 2011-20 period.
Under the plan, this KEZ in the country's major rice basket will make up 40 percent in the country's GDP in 2020.
The zone's economy will be restructured, with an increase in the contribution of the industrial and services sectors and fewer inputs from the agricultural, forestry and fishery sectors.
Accordingly, its industrial and construction sectors will raise their contributions to GDP to 40 percent in 2020 from 29 percent in 2010, its service sector from 42 percent to 45 percent.
Meanwhile, the GDP ratio of the zone's agricultural, forestry and fishery sectors will decrease from 29.4 percent in 2010 to 15 percent in 2020.
Per capita income of the zone's residents is expected to rise from US$1,200 to US$3,000 in the reviewed period.
To reach these targets, the zone must speed up its technological renewal during its modernisation process, with technological renewal of 20 percent annually.
The ratio of trained workers should be raised from 38 percent of its labour force in 2010 to 65 percent in 2020.
The zone will focus on developing three thermal power complexes of O Mon, Ca Mau and Kien Luong, with total capacity of 9,000MW to 9,400MW. These power complexes will be fuelled by gas from fields offshore the southwest coastline.
Priority will be given to the development of transport infrastructure in the region, including National Highway No1A, highways N1 and N2, the road systems on Phu Quoc Island and airports in the zone.
Businesses from different economic sectors are encouraged to invest in Built-Transfer (BT) and Build-Operate-Transfer (BOT) forms in insfrastructure projects such as highways, airports and ports, according to the PM's decision.
Source: VOV/ VNA