Central province’s Q1 investment surpasses yearly target

Wednesday, Apr 17, 2019 16:17

A view of the city of Hue in the central province of Thua Thien Hue. — Photo baodautu.vn

The central province of Thua Thien Hue granted approval in principle for seven projects with a total investment capital of more than VND13 trillion (US$558 million) in the first quarter of this year.

The period’s investment result far exceeded the yearly target of VND10 trillion ($430 million) set earlier by the provincial People’s Committee, a report from the province’s Department of Planning and Investment revealed.

The projects included a hotel, villas and a resort complex, developed by Tam Giang General Entertainment JSC at the cost of VND4.16 trillion; a VND3.33 trillion auto manufacturing and assembly complex invested by Kim Long Nam JSC and a TDH Bien Hai Duong Hue JSC–funded ecological tourism project valued at VND2.1 trillion.

Despite the positive performance, the province will continue investment promotion with a focus on hi-tech farming projects and facilitate the implementation of approved projects in the latter months of this year, according to the department.

The department’s director Nguyen Dai Vui told baodautu.vn his department had petitioned the committee to add many hi-tech farming projects to the province’s list of projects calling for investment in 2019.

This quarter, the committee was expected to grant in principle approval to some such projects, Vui said.

Beside the agricultural sector, the province will also give top priority to tourism, real estate, industrial and economic infrastructure, non-tariff areas, manufacturing industry, health care, education – training, the support industry for textile and garment manufacturing and others in value chains in Southeast Asia and the Asia-Pacific region.

It will also prioritise investors with major brands, prestigious partners, domestic and foreign investment funds and successful domestic enterprises.

Further attention will also be paid to calling for investment from traditional markets such as South Korea, Singapore, Thailand, Japan, Hong Kong (China), the US and Europe. Efforts will be made to reach out to investors from countries benefiting from Viet Nam’s entry to bilateral and multilateral free trade agreements, and investors in China who are impacted by the US-China trade war. — VNS

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