Gia Lai lures $220million investment

Tuesday, May 29, 2018 08:34

Gia Lai People’s Committee vice chairman Vo Ngoc Thanh grants an investment licence to a HCM City business. — VNA/VNS Photo Hoai Nam

The Central Highlands province of Gia Lai on Monday granted licences to 10 projects with a total registered capital of VND5 trillion (US$220 million).

The province also signed memoranda of understanding with 11 investors for funding totaling more than VND16 trillion ($700 million) during an investment promotion conference in Pleiku City to foster investment co-operation between the locality and HCM City

In his speech at the event, the provincial People’s Committee vice chairman Vo Ngoc Thanh said from now to 2020, his province will continue to hasten the development of several sectors including hi-tech, agricultural processing, clean and renewable energies and tourism.

Priority will be also given to support local enterprises to expand their co-operation with those from other provinces and overseas, he said.

With its open mechanisms and preferential policies, Gia Lai is ready to welcome investors and to create the best possible conditions for them to operate in the province, he added.

HCM City investors have to date carried out 26 projects capitalised at more than VND6.3 trillion in Gia Lai over the past 15 years, mostly in agro-forestry- fishery, infrastructure development of urban areas and trade, following a socio-economic co-operation programme, which was implemented by Gia Lai and HCM City.

In return, Gia Lai investors have poured nearly VND30 trillion into projects in HCM City.

Chairman of Dong Giao Foodstuff Export JSC (Doveco) Dinh Cao Khue suggested that local authorities establish a professional body in charge of calling for investment while supporting investors in registering their investment projects and addressing difficulties.

He also petitioned the province’s Department of Agriculture and Rural Development to assist investors who invest in farming with production planning and facilitate links between them and local farmers.

Also at the event, HCM City issued calls for investment in 190 projects, especially those related to smart urban development. — VNS

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