Bac Lieu seeks financial backing for 15 projects

Thursday, May 07, 2015 09:32

Construction of a local dyke on the western part of the Ganh Hao sea gate in Bac Lieu Province. — VNA/VNS Photo Kim Ha

BAC LIEU (Biz Hub) — The Cuu Long (Mekong) Delta province of Bac Lieu is calling for investment in 15 projects this year, reports.

Three of the projects involve developing residential and urban areas, two are related to culture and tourism development, six involve infrastructure, two are in the health sector - and two will boost agricultural services.

Among the more notable projects are Ganh Hao sea port, which needs an estimated investment of VND600 billion (US$27.7 million); the development of Lang Tram Industrial Zone, which requires VND670 billion ($30.9 million); and another hi-tech agricultural production park, expected to cost more than VND1.3 trillion ($62.9 million).

Ngo Quach Lam, director of Bac Lieu Investment, Trade and Tourism Promotion Centre, said the province had worked hard to create the most favourable investment climate for domestic and foreign investors.

He said top priority had been given to speeding up administrative procedures, especially in investment management and taxation - and accelerating the transparency of related information.

Despite efforts by local authorities, the inflow of investment into Bac Lieu, especially from foreign investors, remained limited, according to the provincial Department of Planning and Investment.

The Foreign Investment Agency's report revealed that the province attracted only one foreign-invested project capitalised at $5 million in 2014.

This brought the total number of foreign-invested projects in the locality last year to 19, worth a total of $94.55 million. — VNS

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