Ninh Binh Province's $11.7b plan to develop industry, tourism until 2050

Wednesday, Apr 26, 2023 10:54

A bird's eye view of Tam Coc-Bich Dong tourist site in Ninh Binh Province. Forbes magazine selects Ninh Binh as one of the top 23 vacation destinations in the world for 2023. — VNA/VNS Photo

Ninh Binh Province has approved a provincial planning scheme for 2021-30, with a long-term vision to 2050, to focus on developing industry, tourism and infrastructure. The plan is expected to require about US$11.7 billion in capital.

By 2030, Ninh Binh aims to develop effectively, inclusively and sustainably. The industry is expected to be the driving force for growth. At the same time, tourism will become a spearhead economy, creating a driving force to promote the development of other industries and fields.

By 2050, the province aims to transform into a hub of sustainable tourism and a prospective leader in industry and services for the southern region of the Red River Delta.

The goal is to build Ninh Binh into a moderately developed province and a high-quality tourism centre with high competitiveness nationwide.

The northern province has a wealth of natural beauty, rich historical traditions and many scenic attractions, including historic and cultural relics.

Trang An Scenic Landscape Complex has been recognised as a UNESCO World Heritage Site. According to Forbes magazine, Ninh Binh is one of the top 23 vacation destinations in the world for 2023.

The province's economy grew quite well in 2015-20, with a regional gross domestic product (RGDP) of 8.03 per cent per year, higher than the national average.

However, the province also faces some challenges, such as an unreasonable economic structure, under-developed industry, agriculture development that lacks focus on quality and value, low human resources qualifications and labour productivity and underexploited potential in tourism.

A source on showed Ninh Binh expects to need $5.27 billion in investment capital in 2021-25 and $6.4 billion in 2026-30.

To mobilise the necessary investment capital, the province plans to enhance management practices, increase the efficiency of budgetary revenue and expenditures, concentrate resources, and invest with focus and discipline to reduce costs and prevent financial losses.

Key projects

Pham Quang Ngoc, chairman of the provincial People's Committee, has announced plans to attract investment in multi-functional resort complexes to drive development, attract tourists and stimulate high-class real estate projects linked to tourism and healthcare.

Additionally, the province intends to construct a high-tech industrial park with centres for industrial education, creative technology, start-up support, business incubation, and training in tourism-related professions, serving the entire province and surrounding areas.

Ninh Binh also aims to establish a Central Business District (CBD) in the province, focusing on financial services, banking commercial centres and other urban economy services.

In Tam Diep City, a logistics centre will be built to connect the province's North-South and East-West Economic Corridors, facilitating e-commerce and digital economy development from 2021 to 2030. A logistics centre will be constructed in Kim Son District from 2030 to 2050. — VNS

Comments (0)