Quang Binh’s impressive cave systems are a particular highlight of the province’s tourism sector

On June 25, the master planning of Quang Binh province towards 2030, with a vision for 2050, will be officially announced by its People’s Committee in a conference in Hanoi.

According to Vu Dai Thang, Secretary of Quang Binh Party Committee, the master planning bears the province’s strategic vision on socioeconomic development in the upcoming period through deeply analysing the strengths, weaknesses, opportunities, and challenges, from there helping domestic and foreign investors to consider and decide to choose Quang Binh as a destination.

Thang noted that by 2030, Quang Binh would become a dynamic economy in the central region, with a focus on outstanding tourism, renewable energy, and high-tech and sustainable agriculture, buoyed by a synchronous and modern technical infrastructure system.

In light of the master planning, the province aims to grow into a well-developed locality in the central region by 2030, with the regional GDP growing an average from 8.4-8.8 per cent per year. Within the local economic structure, industry and construction would account for 38-38.5 per cent; services make up 45 per cent; and the agro-forestry-fishery sector represents 12.5-13 per cent, among others.

Strategic vision

Quang Binh has set a target that by the end of the decade, local budget revenues will come to $565 million; the total capital volume would approximate $16.3-18.5 billion; per capita regional GDP will approximate $6,300-6,500; the total number of visitors to Quang Binh will touch 10 million; and the digital economy will hold a proportion of 25 per cent, among other goals.

By 2050, Quang Binh wants to boast a dynamic economy and serve as an important destination for the nation’s economic corridors.

The province aims to effectively promote its potential and strengths, especially the outstanding unique values of world natural heritage Phong Nha-Ke Bang National Park, positioning Quang Binh as a leading tourist destination in Vietnam and Southeast Asia with a majestic cave system, diverse ecosystems, and rich cultural values, striving to become Vietnam’s leading luxury sports and recreation destination.

Towards reaching these goals, Phan Phong Phu, director of Quang Binh Department of Planning and Investment, noted that the master planning has clearly defined development priorities.

“Quang Binh has identified four pillars for economic development, including developing tourism infrastructure into a spearhead sector and a breakthrough field to drive economic growth and transformation,” Phu said.

“Next, industrial development is the key, with priority given to renewable energy, processing and manufacturing, prioritising high-tech agriculture, and ensuring effective and sustainable development of the marine economy.”

Besides identifying the pillars, Quang Binh has identified two growth driving centres including the Phong Nha-Ke Bang National Park tourist attraction and Hon La Economic Zone.

Three urban centres encompass Dong Hoi city, the northern urban centre, and the southern urban centre. Finally, the province is involved in the coastal corridor, east-west corridor, and the midland and mountainous corridor.

The identification of development incentives following such a distinct model has covered strategic potentials and advantages of Quang Binh, seeking to determine a sustainable and effective development roadmap for the province, Phu added.

Identifying opportunities

The strategic vision of Quang Binh, enshrined in the provincial master planning, has outlined the development roadmap of Quang Binh in the next 10 years and beyond.

This roadmap has also exposed golden investment opportunities for domestic and foreign investors. One international investment consultant told VIR that Quang Binh choosing to develop tourism infrastructure, with a development roadmap over time from basic to high-end, would be a smart move, and the tourism sector aims to bring provincial growth.

“Investing in tourism and services, especially green tourism, is appealing to potential investors,” he said. “Investors aim to provide products that may upgrade the value of life, while ensuring the efficiency of investment capital and maintaining the longevity over time. This product can only be ecological tourism, valuable services associated with tourism,” he said.

The Phong Nha-Ke Bang tourist area features mysterious caves such as Son Doong, the En Cave system, Va, Sinh Ton Valley, Thuy Cung, and more, which all attract many scientists and visitors to learn and experience.

The goal to develop Phong Nha-Ke Bang into a national and international tourist centre with synchronous infrastructure, modern and diversified products could also usher in many opportunities for tourism investors in Quang Binh in the near future.

Another area that is on the radar is renewable energy investment. Quang Binh has emerged as one of the top investment destinations in this field. For example, the 49.5MWp solar power plant project from Dohwa Green Energy Co., Lt.d by a South Korean investor, and the B&T wind farm project cluster by a Filipino investor, are being implemented effectively.

Practice has illustrated the potential for renewable energy development in Quang Binh, in combination with the strategic vision of prioritising development of the industrial sector as identified in its master plan, which encourages investment in renewable energy.

Quang Binh also boasts a large sea space for offshore wind power development, as another factor that is opening up numerous opportunities for investors. With this and other areas, the locality is promoting its advantages to bring multiple opportunities for projects that generate high value, creating development fundaments both in quality and quantity for Quang Binh.

Source: https://vir.com.vn/