Ninh Thuan has ambitious plans to develop sea-based economy

Wednesday, Mar 02, 2022 09:00

A view of Vinh Hy bay in Ninh Thuan Province. — Photo

The south-central province of Ninh Thuan, which is endowed with a 105km coastline and abundant aquatic resources, is focusing on developing its marine economy and coastal industries.

Tran Quoc Nam, chairman of its People’s Committee, said the province had mobilised capital from various sources to invest in coastal areas, especially the south.

With precise investment mechanisms and policies, it had managed to attract strategic investors, he said.

At the end of 2021 it granted investment certificates for 47 marine industrial projects with a total registered capital of over VND2 trillion (US$87.66 million), and 25 of them are already operational, according to the chairman.

The province will continue to mobilise resources for investment to improve infrastructure in coastal areas and areas zoned for developing key tourism, energy and coastal urban area projects.

The maritime economy plays an important role in its economy, and is expected to grow by 15 - 16 per cent annually until 2025 as the province works to achieve breakthroughs in sectors such as energy, renewable energy, urban areas, sea tourism and marine services, coastal industry, fishing, and aquaculture.

It is promoting investment in offshore and coastal wind power.

It is currently speeding up construction of the Ca Na LNG power complex project phase 1 and completing procedures for key transport projects.

It also seeks to attract investment in large industrial projects, high-tech industries, supporting industries serving renewable energy, mechanical engineering, seafood processing, salt production, and shipbuilding and repair.

It is accelerating work on projects in the south such as the Ca Na seaport complex, an inland port, a logistics services centre, and routes linking seaports with expressways.

It is soliciting investment to help the tourism sector effectively use its advantages and become an attractive destination for domestic and foreign tourists.

It expects to receive 3.5 million visitors a year by 2025, with foreign visitors accounting for 12-13 per cent, earning revenues of VND 2.9 trillion from them.

Fishing and aquaculture is another sector it is focused on, and targets having 500-600ha of aquaculture farms on shore and 1,000ha offshore with an annual output of 110,000-150,000 tonnes by 2025.

With more than 105km of coastline, Ninh Thuan is one the country’s four largest fisheries producers, and its diverse range of species include high-value ones such as tuna.

The province is also among the country’s largest shrimp broodstock producers, with its annual volume of shrimp fry output increasing from 6.1 billion in 2007 to 24.9 billion in 2017. It has a target of 41 billion by 2025.

According to provincial authorities, Ninh Thuan will continue to invest in upgrading infrastructure and encourage large enterprises to invest in the marine economic sector, especially key projects such as the Ca Na Industrial Park, offshore wind power plants, LNG power projects, inland ports, logistics centres, and others to create a momentum for the marine economy to develop quickly. — VNS

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