Vietnam is seeking to stimulate investment in the Mekong Delta, Prime Minister Nguyen Tan Dung announced on Monday.
He asked local authorities to speed up administrative reforms and ease regulations in order to benefit both investors and the country.
PM Dung was speaking at a conference in Can Tho City regarding investment and development in the delta. The event was attended by many high-ranking officials and more than 500 domestic and foreign delegates.
The Mekong Delta is considered one of the country's key economic zones.
The region is comprised of 13 provinces and cities with a total population of around 18 million people. It accounts for 20 percent of Vietnam's gross domestic product; 50 percent of its total rice output and 52 percent of seafood production. The region has seen 10-12 percent annual economic growth since 2006.
However, PM Dung said the delta has failed to realize its full potential, due to poor infrastructure and low productivity.
Ten memorandums of understanding were signed at the conference. In the end, investors pledged more than VND17.6 trillion for the region.
The largest project discussed, nearly VND10 trillion, was put up for a textile project in Ben Tre Province.
PM Dung said the government has also decided to launch a number of key infrastructure projects in the delta, including a major power plant in Tra Vinh Province and airport rennovations in Can Tho and Kien Giang.