Central Highlands examines how to attract more foreign investment

Thursday, Jan 29, 2015 07:00

Last year, the region had 148 valid foreign-investment projects with a total registered capital of US$819 million. — Photo baodatviet

HA NOI (Biz Hub) — The Central Highlands region lags behind other areas in the country in attracting foreign investment due to its poor infrastructure and lack of skilled labour.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, as of the end of last year, the region, which comprises Kon Tum, Gia Lai, Dak Lak, Dak Nong and Lam Dong, had 148 valid foreign-investment projects with a total registered capital of US$819 million.

Of these provinces, Lam Dong led with 122 projects capitalised at approximately $500 million and accounting for 82 per cent of the region's total foreign-invested projects and 61 per cent of total registered FDI, the agency noted.

Dak Lak ranked second with six projects, valued at $150 million, while Gia Lai placed third with 11 projects valued at $80 million. The two remaining provinces of Kon Tum and Dak Nong had 9 projects with a combined capital of $89.6 million.

Of note, Hong Kong was the region's leading foreign investor with $150 million, making up 18 per cent of its total FDI. It was followed by Taiwan, with $122 million or 15 per cent, and Japan with $103 million or 12 per cent.

During the reviewed period, the agro-forestry-fisheries sector absorbed the largest share of FDI with $350 million, accounting for 42 per cent of the region's total FDI, following by processing and manufacturing industries with $198 million, or 24 per cent of FDI pledged in the region.

To attract more FDI, the agency suggested that these five provinces accelerate investment promotions to publicise their investment climates, potentials and prioritise sectors to alert foreign investors about investment opportunities.

Top priority should also be given to further upgrading infrastructure and improving human resources to better attract investors, it added. — VNS

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