While transport infrastructure in HCM City and provinces in the Southern Key Economic Zone has improved over the years, connectivity remains modest, hampering development, experts said.
Ba Ria-Vung Tau Province has for many years been an ideal destination for foreign investors thanks to its natural advantages and comprehensively developed infrastructure in addition to attractive incentives.
Last year FDI in manufacturing in the Southern Key Economic Zone exceeded the target, and authorities in the provinces and cities comprising the zone are hoping the trend will continue.
The Southern Key Economic Zone needs more robust policies and mechanisms for attracting resources and foreign direct investment and enhancing linkages between localities to enable the region to develop faster and sustainably, according to experts.
HCM City is likely to achieve exports of US$35.2 billion this year, a 15.1 per cent increase from last year, and imports of $43.1 billion, a 13.2 per cent rise.
The Southern Key Economic Zone, which comprises HCM City and seven
provinces, has succeeded in improving its infrastructure and economy
since its establishment in 1998, but still needs to improve connections
among provinces to exploit its competitive advantages.