Saturday, 21 January 2017 18:36

    Economy in Northeast Vietnam Featured

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    The diversity of geography has made a significant contribution to the success of economy in Northeast Vietnam. In recent years, the rapid economic growth rate has helped the region attracting some foreign investments.

    The Northeast Vietnam consists of 9 provinces including Ha Giang, Tuyen Quang, Cao Bang, Bac Kan, Thai Nguyen, Lang Son, Bac Giang, Phu Tho and Quang Ninh. The region has reached the rapid industrialization speed in recent years. Many enterprises in field of energy, technology and engineers sectors were built in the region. With the positive sign in economy of Northeast Vietnam, some foreign investors have paid the special attention to the region. For example, in 2011, a Taiwan producer in fields of panels for Apple Inc, Wintek Corp announced to make a long investment with the total capital of $150 million in Bac Giang province.

    Advantages – Disadvantages

    Northeast Vietnam is one of the richest regions in terms of mineral resources. The land has some important minerals including coal, apatite, iron, copper, lead, zinc, and tin. Especially, the region has rich reserves in coal which is mainly distributed in Quang Ninh province. Quang Ninh is the largest center of coal in the country with the highest coal quality in ASEAN. Currently, mining productivity exceeded 30 million tons per year. Besides, region has the abundant of water because many rivers flow through including Red River, Green River, Bac Giang River, Ky Cung River, Lo River and Gam River. The land also has a plenty of lakes as well.

    The biggest disadvantage for Northeast Vietnam economy is the weather. The tropical climate is influenced by monsoon with hot dry and heavy rains in summers and cold and dry in winters. The harsh climate causes dry heat, drought and frost which create the restriction in production and people’s lives.

    Read 260 times Last modified on Saturday, 21 January 2017 19:37

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