This message came out at the workshop ‘Feasibility of adopting regional socioeconomic development targets for the northern midlands and mountains in the context of digital transformation’, hosted by the Central Institute for Economic Management (CIEM) at its headquarters in Hanoi on October 27.

The workshop is part of the Macroeconomic Reforms and Green Growth Programme funded by the German Corporation for International Cooperation.

The workshop focused on three issues: First, on reviewing the legal framework on regional economic institutions, regional link mechanisms, and policy frameworks relevant to the formulation of socioeconomic development goals.

Next on analysing international experience in developing regional socioeconomic goals in Germany, South Korea, China, and Malaysia. And lastly, the participants discussed the requirements for the development of regional goals from which to propose solutions and a roadmap for the northern midlands and the mountains.

Tran Thi Hong Minh, general director of the CIEM, said that regional links would be crucial, helping to form a digital economy. On that basis, it would be important to create a mechanism to strengthen regional connectivity and links between businesses in the region.

“This connectivity is not only intra-regional and inter-regional, but needs to be expanded nationally and globally,” Minh noted.

Nguyen Anh Duong, director of Department for General Economic Issues and Integration Studies under the CIEM, however, said that the northern midlands and mountains are the most difficult areas in the country.

"The whole region still lacks sufficient investment resources, high-quality manpower, and infrastructure systems, particularly transport infrastructure, Duong said.

Besides this, the orientation for the region would still be limited. While the implementation of decentralisation efforts is not clear, it proves difficult to ensure resources for the development, adjustment, and supervision of socioeconomic statistical indicators of localities in the region.

The CIEM has proposed to continue improving the regional institutional system and regional links to create comparative advantages for the entire region and each locality.

In addition, it would be necessary to decentralise and innovate to support and promote innovation and digital transformation, as well as study and revise local statistical regime and socioeconomic indicators.