A corner of the Lung Ngoc Hoang nature reserve. This area is one of seven potential projects in southern Hau Giang Province. — Photo mytour.vn

HA NOI (Biz Hub) — Southern Hau Giang Province is calling for US$330 million in foreign and domestic investment capital to fund seven proposed projects, said Chairman of the provincial People's Committee Lu Van Hung.

Speaking at an investment promotion conference held in Hau Giang Province on July 11, Hung said the capital was expected to be invested in a condensed pineapple juice processing plant, a high-quality vegetable market and a fruit processing and conservation factory, as well as a high-tech agricultural zone, the Lung Ngoc Hoang nature reserve, a breeding farm and an aquaculture project in a freshwater area.

Hung said the seven projects were part of a series of 33 projects that were in need of investment capital.

He said the province had created preferential policies for investors, such as exemption from business income tax for the first four years and a 50 per cent reduction in this tax over the next nine years. The investors would also enjoy reduced rents for land and water rights and lower import and export tax rates.

From 2004 to date, some 3,710 companies have registered to develop a business in the province, with total investment capital of VND43 trillion. They have mainly invested in trade, service and construction projects.

The province has attracted nearly 500 domestic investment projects, with total capital of VND120 trillion, 7.4 per cent higher than that in 2004. It has also lured 15 foreign investment businesses, with total capital of nearly $650 million, and 12 joint venture enterprises, with the whole capital of more than $165 million.

The conference is being held on the sidelines of the 2016 Cuu Long Delta Economic Co-operation Forum in Hau Giang Province from July 11 to 15. — VNS