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Rural province reinvents itself
The central province of Khanh Hoa has succeeded in transforming itself from an agricultural to multi-sectoral economy by developing its industrial and services sectors in the 35 years since liberation, its leader has said.
Vo Lam Phi, Cairman of the provincial People's Committee said: "Last year, tourism accounted for 43.3 per cent [Of the economy], industry and trade 41.7 per cent, and agriculture 14.9 per cent."
Thanks to its transformation, the province had achieved average economic growth of 11 per cent and improved socio-economic standards, he said.
The of its economy has grown by 129 times since 1990 to VND6.2 trillion (US$325 million) last year.
The province spends VND60 billion ($3 million) annually on fighting poverty and hunger, and has managed to reduce the poverty rate to 1.9 per cent.
In the first quarter of this year, the province attracted foreign direct investment worth $1.2 billion, mainly in projects in economic hubs like Van Phong, Cam Ranh and Nha Trang.
Infrastructure has been built – including Nguyen Tat Thanh, Pham Van Dong and Nha Trang – Da Lat highways – to not only link tourist destinations within the province and but also connect Nha Trang City with outside destinations like Da Lat.
The province has paid special attention to developing luxury hotels and resorts like Vinpearl, Hon Tam, Novotel, Ana Mandara, Sunrise, Sai Gon – Yasaka – Nha Trang, tourist attractions like Bai Rong Tourism Zone and Thap Ba Hot Spa, and infrastructure like Cam Ranh Airport and Van Phong International Port.
"The province hopes to achieve 12-per-cent growth this year and has ambitious education, poverty elimination and social welfare targets," Phi added.
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