Saturday, July 20,2024 - 4:35 GMT+7  Việt Nam EngLish 

Red River Delta region needs to strengthen links to promote its potential 

 Monday, June 10,2024

AsemconnectVietnam - The Red River Delta region accounts for a large proportion of the country's overall import-export structure, but to fully exploit the potential and advantages of the entire region, many breakthrough policies are needed.

At the trade promotion and import-export conference in the Red River Delta, held on June 5, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that this is also a leading region in industrialization and modernization, research, application of science, technology and innovation, and the regional infrastructure has been strongly invested and developed.
In 2023, the entire region's import-export turnover reached over 260.88 billion USD, the highest among the 6 economic regions, accounting for 38% of the country's import-export turnover. At the same time, the region's foreign investment attraction is the largest in the country, estimated at 17.382 billion USD, of which 5/11 localities in the region are among the top 10 localities in the country. Places with many industrial sectors in the region include Hanoi, Hai Phong, Hai Duong, and Bac Ninh.
However, the region is facing problems that need to be resolved such as economic development that is not commensurate with the region's potential, advantages, location, and particularly important role; localities develop unevenly and depend heavily on capital and labor. The region has not yet formed value chains and industry clusters.
To create a new change, the Deputy Minister of Industry and Trade emphasized the need for solutions to promote science, technology, chain links in production to improve product value, and regional links in trade promotion activities and import-export on a professional scale.
Regarding the issue of trade promotion, the Director of the Department of Trade Promotion (under the Ministry of Industry and Trade) Vu Ba Phu commented that, although it has improved, the implementation of regional linked trade promotion activities still faces some problems. With 11 provinces and cities in the Red River Delta, there are currently 3 models of trade promotion centers, under different management units, leading to inadequacies in state management and effective implementation.
To increase regional connectivity in trade promotion activities of the Red River Delta, according to Mr. Vu Ba Phu, it is necessary to implement focused, long-term solutions. Specifically, the Government needs to pay attention to directing and focusing on synchronous investment in commercial infrastructure to create motivation and regional linkages in commercial activities.
Localities need to build long-term strategies based on studying the needs and capabilities of businesses, resources, and priority strategies of each locality, as well as enhance information exchange and coordination with other localities to take advantage of each other's potentials and advantages to penetrate each other's markets.
Source: VITIC/


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