Ha Nam sets investment goal of $8 billion in next five years

The latest report from the Foreign Investment Agency showed out that Ha Nam attracted about $320 million in foreign direct investment (FDI) over the past 11 months. — File Photo

HA NAM (Biz Hub) — The northern province of Ha Nam plans to attract VND180 trillion (US$8 billion) in investments between 2016 and 2020, said an official of the province's Department of Planning and Investment.

Director of the department Nguyen Van Oang said it would give priority to projects in hi-tech and support industries, foodstuff processing and pharmaceuticals.

"Investors are also welcome in the tourism and service sectors and urban development. They are also encouraged to build infrastructure for the Tam Chuc tourism area, including entertainment, trade and high-end accommodation facilities," Oang said.

In the future, the province plans to seek investments in the industrial complexes which have adequate infrastructure facilities while fostering co-operation with large domestic and international companies, including those from Japan and Israel to develop hi-tech agriculture, dairy farming based on industrial models and organic farming.

It will also target foreign investors from developed economies such as Japan, South Korea and the European Union.

Mai Tien Dung, the Ha Nam Party secretary and People's Council chairman, said that the province would create favourable conditions for investors through a mix of incentives related to land lease, infrastructure, administrative procedures, and taxes, apart from imparting labour training and ensuring recruitment support, among others.

"The province will focus on further improving its investment environment to enable it to become a friendly, attractive and competitive destination in the region," Dung said at a recent investment promotion conference in HCM City.

The latest report from the Foreign Investment Agency showed out that Ha Nam attracted about $320 million in foreign direct investment (FDI) over the past 11 months. That helped the province rank 14th among 49 localities in terms of attracting FDI. — VNS