Southeast Economic Zone will be expanded to 80,000 hectares, and will be renamed Nghe An Economic Zone.

This is one of the important contents in the Project on developing the Southeast Economic Zone as the driving force for economic growth of Nghe An province in the period of 2021-2025, with a vision to 2030, which has just been approved by the Standing Committee of Nghe An Provincial Party Committee at the regular meeting in September.

Map of spatial development orientation of the Southeast Nghe An Economic Zone to 2040. Photo: Thanh Duy

With the above Project, Nghe An's goal is to build and develop the Southeast Economic Zone into a dynamic, attractive and highly competitive economic development area in the North Central region, focusing on developing synchronous and modern infrastructure of industrial parks associated with the construction and effective exploitation of Cua Lo and Dong Hoi seaports.

Through the Southeast Economic Zone, Nghe An aims to create a breakthrough in attracting investment, promoting rapid economic restructuring, increasing production value, increasing budget revenue, creating many jobs and actively contributing to economic development, ensuring national defense, security, environmental protection, preventing and combating natural disasters and climate change.

The project has developed groups of tasks and key solutions to realize the set goals with a very specific roadmap. In particular, in 2021, the overall adjustment of the master plan for the construction of the Southeast Economic Zone to 2040 will be completed; a plan for the development of industrial parks and integrated economic zones in the Provincial Planning for the period 2021-2030, with a vision to 2050, including the expansion of the Southeast Economic Zone to about 80,000 hectares will be developed.

In 2022, Nghe An will officially expand the boundary of the Southeast Economic Zone to the West along the N5 road connecting Hoa Son - Do Luong, the N2 road connecting National Highway 7A, the 48D National Highway connecting Hoang Mai town with Nghia Dan district, National Highway 1A (Vinh city bypass) and the coastal area to develop seaports and resort tourism. At the same time, submit to the Prime Minister to change the name to Nghe An Economic Zone.

Nghe An will also submit to the Government to add the Southeast Nghe An Economic Zone to the group of key coastal economic zones of the country to have more resources for development investment from the State budget for the period 2021-2025.

Previously, in Notice No. 55-TB/TW dated April 20, 2019 on the 5-year review of the implementation of Resolution No. 26-NQ/TW of the 11th Politburo on the direction and tasks for the development of Nghe An province until 2020, the Politburo agreed to "study the addition of the Southeast Nghe An Economic Zone to the group of key coastal economic zones; adjust the Dong Hoi specialized port area into a general port area".

Nghe An Southeast Economic Zone was established in June 2007, currently has a total area of ​​over 20,776 hectares, located in 6 districts and cities of Nghe An province.

As of July 2021, the Southeast Economic Zone has 257 valid investment projects with a total investment capital of more than VND 70,189 billion, equivalent to 3.03 billion USD; of which there are 52 FDI projects with a total investment capital of 1.09 billion USD, accounting for 75% of foreign investment capital in the province.

In the period of 2016 - 2020, budget revenue in the Southeast Economic Zone and industrial parks increased rapidly, 2.34 times higher than in the period of 2011 - 2015, contributing nearly 10.5% of Nghe An's total budget revenue.

However, up to now, after a period of implementation, the master plan of the Southeast Economic Zone has revealed some shortcomings, making it difficult to implement in practice; compensation and site clearance work still faces many difficulties;... so the promulgation of the Project on developing the Southeast Economic Zone as a driving force for economic growth in Nghe An province for the period 2021-2025, with a vision to 2030, is extremely necessary to overcome the limitations and create more motivation for the development of this very important economic zone.