Double-digit growth - What is the sustainable solution for Quang Nam?

Activities of the mechanical and metal manufacturing industry of THACO Chu Lai. Photo: QUANG VIET

Priority for dynamic industry groups

The scientific topic "Research on economic growth drivers of Quang Nam province in the period of 2025 - 2030 and vision to 2050" chaired by MSc. Nguyen Nhu Cong - Chief of Office of the Provincial People's Committee (now Director of the Department of Finance) has just been accepted with excellent results by the Scientific Council organized by the Department of Science and Technology.

According to Mr. Nguyen Nhu Cong, to achieve the target of double-digit growth and sustainable economic development, Quang Nam needs to prioritize the development of the mechanical engineering and metal production industries, followed by the textile, footwear, and tourism and service industries.

Currently, the automobile manufacturing and assembly industry is making a great contribution to the provincial economy. This industry creates high value, promotes the transformation of modern industrial structure with new techniques and technologies, leads industrial development, and contributes to making Quang Nam an industrial center of the Central Highlands.

Quang Nam has the advantage of THACO Chu Lai, an automobile and logistics center that is among the top in ASEAN. Prioritizing the development of the mechanical and metal manufacturing industries will create opportunities to develop the mechanical and automotive support industry ecosystem, creating space for value chain development in Quang Nam.

Mr. Nguyen Nhu Cong said that the textile, garment and footwear industry has been making positive contributions to Quang Nam's economic growth and creating jobs, but has a tendency to grow slowly.

By 2030, the textile, garment and footwear industry can maintain growth thanks to market expansion opportunities when new-generation FTAs ​​continue to take effect with many advantages for Quang Nam.

To promote the development of the textile, garment and footwear industry in the coming period, it is necessary to shift the stages with higher added value in the industry's value chain.

To create a boost for the development of the service industry, Quang Nam needs to prioritize the development of the information and communication industry. The development of this industry will make an important contribution to the province's GDP, create many job opportunities and promote related service industries such as trade, education, health care and tourism.

In terms of tourism, Quang Nam has a great advantage with 2 world cultural heritages, 4 special national monuments, 62 national monuments, more than 120 folk festivals and many beautiful beaches...

Extensive ecotourism potential with a rich ecosystem and biodiversity helps develop cultural, island, resort and community tourism. These factors help Quang Nam attract international and domestic visitors effectively. Linking tourism with Hue, Da Nang, the Central Highlands and neighboring provinces will promote the development of Quang Nam tourism faster and stronger.

Focus on regional connectivity

According to Mr. Lam Quang Thanh - Deputy Head of the Economic - Budget Committee of the Provincial People's Council, balanced development and linkage between the two regions will create comprehensive and sustainable development for Quang Nam in the coming time.

Quang Nam needs to promote its strengths in sea tourism. In the photo: Tam Tien Beach, Nui Thanh.

Quang Nam currently has two dynamic clusters, Dien Ban - Hoi An - Dai Loc and Phu Ninh - Tam Ky - Nui Thanh, both of which have strong development prospects, creating great momentum for the province's socio-economic development. The Dien Ban - Hoi An - Dai Loc cluster focuses on industrial development, tourism and urbanization.

Phu Ninh - Tam Ky - Nui Thanh cluster aims for comprehensive development in industry, services, tourism, education and smart urban areas. The synchronous and linked development between these two clusters will create comprehensive and sustainable development.

Quang Nam has many corridors for synchronous connection to serve rapid and sustainable development. These are the coastal economic dynamic corridors from the Da Nang - Quang Ngai highway to the coast; the corridor along the Eastern Truong Son road and the Ho Chi Minh road in the western space of the province; the corridor along National Highway 14B and National Highway 14E connecting to National Highway 14D to the Nam Giang International Border Gate.

When connecting corridors, it will promote regional connectivity, create momentum to enhance competitiveness, open up new development space for the province, create opportunities to attract many large investment projects in economic zones, industrial parks, exploit and make the most of economic development strengths.

Leveraging resources

To develop the economy, investment capital plays a very important role. According to Associate Professor, Dr. Bui Quang Binh - Faculty of Economics (Da Nang University of Economics), investment capital in the coming time should be identified by Quang Nam as the driving force and top priority for economic growth.

Quang Nam is aiming for rapid and sustainable industrial development. Illustration photo: QUANG VIET

Unlike previous stages, instead of expanding investment in breadth, capital needs to be used to improve efficiency and productivity, through selective investment in technology infrastructure, innovation ecosystems and digital transformation. This is the foundation for improving labor productivity, stimulating the development of TFP (total factor productivity).

Quang Nam's priority is to promote TFP as a medium- and long-term driver for rapid and sustainable economic growth. Rapid growth is of great significance to Quang Nam's current and future development goals.

It is necessary to predict that rapid growth, if not associated with sustainable development goals, will bring about unpredictable consequences in terms of natural resource depletion and ecological environment pollution. Increasing TFP will help Quang Nam prevent these shortcomings and at the same time achieve the identified sustainable development goals.

Dr. Vo Van Loi - Head of the Department of Political Economy (Regional Political Academy 3) agreed with many solutions proposed by the Department of Finance to promote sustainable economic development in Quang Nam.

The province will prioritize the effective exploitation of remaining labor resources, especially in rural and mountainous areas in the coming time; effectively implement the policies of the Central Government and the province on socio-economic development; well implement the plan to implement the provincial planning; renew traditional growth drivers, and research and deploy new growth drivers.

In particular, it is necessary to carry out well three breakthrough tasks including building a synchronous infrastructure system and urban development; proactively participating in the 4th industrial revolution associated with developing high-quality human resources; promoting improvement of the investment environment and innovative startups.

Source: https://baoquangnam.vn/tang-truong-hai-con-so-giai-phap-ben-vung-nao-cho-quang-nam-3154311.html