A corner of Khanh Hoa province (Photo: baokhanhhoa.vn)

In its Conclusion No 53-KL/TW, issued on December 24, 2012, on Khanh Hoa’s development until 2020 with a vision to 2030, the Politburo envisioned that the central coastal province will become a centrally-run city, and a centre of economy, tourism, science and technology, human resources training for maritime economic and tourism activities, and health care in the southern central coastal region, the Central Highlands, as well as Vietnam as a whole.

In particular, the Van Phong Economic Zone (EZ) was designated as not only the economic hub of Khanh Hoa but also an investment magnet and an economic development driver for neighbouring areas and the entire country.

Carrying out the conclusion, the province has obtained many significant achievements in socio-economic development, with economic growth sustained, budget revenue from domestic sources up 13.8 percent annually on average in the 2013 - 2019 period, and total exports topping 9.7 billion USD in 2013 - 2020.

Initial outcomes have been seen in the development of the Van Phong EZ, which has attracted over 150 investment projects worth 4.1 billion USD, with 94 projects already operational and about 1.39 billion USD of capital implemented, local officials reported.

However, certain problems have emerged, such as ineffective exploitation of local potential and advantages, infrastructure remaining limited, and the Van Phong EZ yet to meet expectations.

At the meeting with provincial leaders in Nha Trang city, Tran Tuan Anh, Politburo member and Chairman of the Party Central Committee’s Economic Commission, suggested Khanh Hoa reform the growth model and restructure its economy towards higher quality, greater diversity with sea-based economic sector at the centre.

At present, authorities should pay attention to realising the concurrent targets of combating COVID-19, boosting economic development, and caring for people’s living standards, according to him./.

BTA