Economy in South Central Coast Vietnam

With rich natural resources and favorable geography, economy in Red River Delta has a plenty of favorable conditions to reach the comprehensive economic development.

Vietnam industry truly developed significantly from 1991 to 2008. During the period, the value of industrial production increases continuously with high and stable growth rate. Recently, Vietnam industry plays an important part in Vietnam economy.

Economy in Southeast Vietnam is seen as the most developed region in Vietnam. The region has many advantages to develop a comprehensive and stable economy. Major economic sectors of Southeast Vietnam are producing industries.

Entering a new development era, in spite of more difficulties and challenges, Da Nang economy has many advantages, opportunities. However, Da Nang city has development trends of competition in the domestic market and foreign growing.

In recent years, the economy in North Central Coast Vietnam has reached relatively high growth rate, approximately 10%. With this positive sign in economic development, the land has attracted investments from both domestic and foreign investors.

With advantages of great natural resources, Vietnam is one of the fastest developing country getting started from agriculture. Agriculture in Vietnam is one of the spear economic sectors in Vietnam, mainly contributing the economic development of Vietnam.

Thanks to promoting the favorable geographical conditions, in past years, economy in Binh Dinh has strongly developed and become one of the important economies in the South Central Coast.

Economy in Mekong River Delta is one of key economic regions in Vietnam. Long Xuyen Quadrangle is the most important economic area of the region. The region has strengthens in agriculture, husbandry and fishery. Here is the largest “rice bowl” of Vietnam.

Vietnam economy is a market economy which depends much on exports, and projects on FDI. The economy ranks sixth in Southeast Asia, and fifty-seventh in the global market. Vietnam is one of developing countries with fast growth rate, about 7% per year.

With the population of over 90 million of people, Vietnam is one of the fastest developing economy in Southeast Asia and in the world. The average Vietnam GDP is about 320.7 billion of dollars, equal to annual growth rate of about 5 percent.

Referring to Sapa, people will think of a gentle and quite district, an ideal tourist destination. The diverse culture along with the harmony between people and nature creates the strength of Sapa tourism and contributing the development of Sapa economy.

Located in the centre of Southeast Asia, in Mekong River Delta economy, Phu Quoc economy has advantages to develop. Especially, the district has positive shifts to become the special administrative-economy zone under the central government next years.

As a famous tourist attraction in Quang Binh, with the potential of tourism, Phong Nha Ke Bang economy contributes remarkably to the economy in Quang Binh as well as North Central Coast economy.

Phan Thiet is the economic, cultural, political center of Binh Thuan province. Promoting the strength of tourism, Phan Thiet economy has contributed significant to the provincial economy.

Nha Trang is one of the most famous tourist destinations of Vietnam; therefore, Nha Trang economy relies largely on tourism. Besides, industry, fishery and services also play an important role in the economic development of the city.

In 10 recent years, Ninh Binh economy has strongly developed, focused on the formation of industrial zones and considered the industry as the motivate power to boost the economic development.

Previously, the economy of Mai Chau mainly focused on agriculture. In recent years, thanks to the development of tourism, the district has important economic restructuring to promote the economic development and enhance the life of people.

During the recent years, Lao Cai economy strives for the GDP growth rate at an average annual increase of 14%. In particular, the development of trade – services, tourism is defined as a key to exploit the effective advantages.

Hue city is the center of commerce, services and international transactions of the economy of North Central Coast Vietnam and one of the traffic hubs of the Central Coast Vietnam. Therefore, Hue economy has the great potential for the development.

Ho Chi Minh is the most bustling and dynamic city in Vietnam. In the past years, Ho Chi Minh City economy constantly grows and reaches the significant achievements contributing to the development of Vietnam economy.