Prime Minister Nguyen Xuan Phuc work with leaders of eight key southern cities and provinces for socio-economic development. (Photo: VNA)

The Prime Minister noted Vietnam’s milestones in fighting COVID-19 and asked for initiatives for socio-economic development of those major localities in the southern region, which contribute 42% of Vietnam’s GDP and 43% of the state budget.

Mr. Phuc cited a recent report by the World Bank that Vietnam is at a crossroads to become a high-income country in 2045 when traditional sectors that lends Vietnam’s growth momentum are weakening.

The Prime Minister suggested the eight localities, which make up one of Vietnam's economic hubs, strive to reach or even surpass their set targets. They were asked to disburse the public investment and State-approved relief packages, remove obstacles for business operation, improve their local competitive edge, and upgrade infrastructure. He added that the eight localities should pay due attention to the construction of industrial parks and smart urban cities in anticipation of a strong foreign investment inflow into Vietnam in the coming time. Prime Minister Phuc demanded that local leaders seek to develop the private sector, a digital economy, and new business models while stimulating domestic consumption and boosting exports to grab the opportunities of Vietnam’s free trade agreements.