Ninh Thuan: Alterations for a breakthrough and rapid growth

By 2030, Ninh Thuan is anticipated to rank among the national hubs for clean and renewable energy, with an average income in the upper middle class.

Speeding up economic recovery

- Ninh Thuan is still a shining example of economic growth despite the various challenges brought on by the COVID-19 epidemic. Could you please provide some information on this.

Numerous facets of social life have been negatively impacted by the COVID-19 epidemic. The People's Committee of Ninh Thuan province released Plan No. 829/KH- UBND on March 2, 2022, with specific tasks and solutions for socio-economic recovery and development, immediately after the Government issued Resolution 11/NQ-CP on the program for socio-economic recovery and development on January 30, 2022. This will see Ninh Thuan concentrate on putting into practice 19 recovery policies, comprising 18 measures to help businesses, employees, and social security, and 1 development investment policy.

Up to this point, policies have been vigorously applied to firms, business households, individuals, and employees, helping to lessen the challenges for businesses and people to recover and develop production and business and significantly advance Ninh Thuan's economic development.

Ninh Thuan's Gross Regional Domestic Product (GRDP) increased 6.94% to VND 17,870 billion in the first nine months of the current year. In which, industry-construction reached VND 5,767 billion, up 2.89%; services reached 5,831 billion dong, up 16.05%; and agriculture, forestry, and fisheries reached VND 5,396 billion, up 4.53%. The budget's earnings exceeded 3,036 billion VND, or 87% of the annual plan, while Ninh Thuan's total investment capital reached 14,455 billion VND.

- How has Ninh Thuan planned to restructure the economy, together with the drastic solutions to restore and develop production and business, sir?

The Ninh Thuan People's Committee released Plan 2131/KH-UBND to carry out Resolution No. 03-NQ/TU of the Provincial Party Committee, term XIV, dated May 31, 2021 and Action Plan No. 428-CTr/BCSD of the Party Committee of the Provincial People's Committee dated June 29, 2021 on promoting the renewal of the growth model, improving the quality of growth, labor productivity, and the competitiveness of the economy in the period of 2021–2025

As a result, Ninh Thuan aims to attain a GRDP of roughly 10–11% annually between 2021 and 2025. The following industries' added value growth rates: 3-4% annually for agriculture, forestry, and fisheries; 17-18% annually for construction; and 10-11% annually for services. Total capital for social investment was between 100 and 105 trillion VND. The economy will grow by 1.9 times by 2025 compared to 2020; the GRDP per capita will be between 113 and 115 million VND.

In addition to the aforementioned objectives, Ninh Thuan concentrates on important solutions like: continuing socioeconomic breakthroughs; accelerating economic restructuring; deepening innovation in the growth model; and promoting innovation, digital transformation, digital economy, and digital society. Ninh Thuan will invest in the transmission grid infrastructure system, speed up the development of processing industry projects, energy projects, and the 6,000 MW Ca Na LNG power project, and establish a center for equipment supply and maintenance for the renewable energy sector.

Additionally, Ninh Thuan will speed up administrative reform, raise the competitiveness of the province, and put more of an emphasis on raising its PCI, PAR INDEX, PAPI, ICT, and SIPAS scores and rankings.

Mr. Tran Quoc Nam, Chairman of the Ninh Thuan Provincial People's Committee

Leveraging competitive advantages

-What are Ninh Thuan's comparative advantages in luring investment, in your opinion?

Ninh Thuan is one of the major locations in the nation's tourism development strategy since it is situated at the intersection of three important national tourist destinations (Da Lat, Phan Rang, and Nha Trang).

As one of the four main fishing grounds in the nation, Ninh Thuan is known for its abundance of high-value seafood that can be harvested all year long, particularly shrimp seeds and snails.

Ninh Thuan also has the advantage of wind power and solar energy. According to research by the World Bank (WB), Ninh Thuan has the highest wind speed in the country, averaging 7.5m/s, which is ideal for wind power development. In addition, with the highest average number of sunshine hours per day in the country (7.7 hours per day), Ninh Thuan is also an ideal location for solar energy.

In addition, Ninh Thuan develops high-yield and high-quality livestock crops that become local specialties, including green asparagus, apples, garlic, goat, and sheep farming; in particular, the grape wine processing industry made Ninh Thuan the country's "capital" of vines.

-Which fields will be prioritized by Ninh Thuan to attract investment in the near future, sir?

With the Prime Minister's approval, Ninh Thuan province hired the US-based Monitor Corporation, a preeminent development strategy consulting firm, to draft a master plan for the province's socioeconomic development up to 2020 and a vision to 2030. Additionally, it hired the British Arup Group to prepare the provincial coastline zone planning project and the Phan Rang-Thap city development planning project at the same time.

The direction of Ninh Thuan province is to focus on luring investment to develop six main industries so as to break through for the province's economic growth. These six industries include two supporting industries, such as construction and real estate, education and training, and vocational training, as well as four fundamental economic sectors, including energy, agriculture and fisheries, industrial production, and tourism.

- Do you have something to share with potential investors or companies that plan to invest in Ninh Thuan?

In order to strengthen the business climate and continue to draw enterprises to the province, Ninh Thuan always works with and listens to the business community for developing and implementing action strategies. This helps the province achieve socioeconomic sustainability.

Thank you very much!'