HCMC is the center of the southern key economic region. (Photo: tapchicongsan.org.vn)

The southern key economic region comprises HCM City, Ba Ria-Vung Tau, Binh Duong, Binh Phuoc, Dong Nai, Long An, Tien Giang, and Tay Ninh province.

During the last 17 years of implementing the Politburo Resolution, the region has gained major achievements in socio-economic development.

Although its area is only 9.2% and its population only 17.7% of Vietnam’s total, the region contributes 46.3% to the national GDP in 2019 and 46-50% of national budget revenues each year, and its per capita income is 1.5 to 1.7 times the national average.

Economists say that to fully tap the region’s potential, links and cooperation between localities should be strengthened.

Tran Quang Thang, Director of the HCMC Institute of Economics and Management, said, “There’s always competition but we need to boost both cooperation and competition. Localities need to bring into play their strengths and enhance cooperation in the principle of mutual development, flexibility, and positivity.”

PM Pham Minh Chinh says southern key economic region still has a lot of development potential that need to be more effectively tapped. (Photo: VNA)

Professor Dr. Nguyen Thi Canh, advisor with the Center for Economic and Financial Research at the Economics and Law College of the Vietnam National University, HCMC, underscored the need to reorganize the Steering Committee and the Council for the Southern Key Economic Region for the 2015-2020 period toward a specialized government agency.

“It’s necessary to strengthen the Council, delegate more power to the Council and provide it with budget and teams of experts. This requires a project which will be approved by relevant agencies and the National Assembly to run smoothly,” said Canh.

Dr. Tran Nguyen Dan of the HCMC University of Economics said that a specific person should be assigned to be responsible for linking localities in order to promote the strength of the region.

He said, “That person must have real authority and have the mindset that the region will act as a nucleus around which the whole country can develop. I think we need a commander-in-chief for the key area, who should have the right and the freedom to make decision.”

At a recent conference to review 17 years of implementing Resolution 53, Prime Minister Pham Minh Chinh said that the region still has a lot of development potential that need to be more effectively tapped.

He stressed the need to strengthen links between localities and agencies. He promised to consider assigning a Deputy Prime Minister or the Secretary of the HCMC Party Committee Nguyen Van Nen for the role of commander-in-chief for the southern key economic region.