Hoa Binh attracts billions in investment

Wednesday, Dec 12, 2018 07:02

Prime Minister Nguyen Xuan Phuc visits a kiosk displaying speciality fruits of Hoa Binh Province. — VNA/VNS Photo Thong Nhat

The northwestern mountainous province of Hoa Binh received a total inflow of VND94 trillion (US$4.1 billion) in registered capital at an investment promotion conference held in Hoa Binh City on Tuesday afternoon.

Chairman of the provincial People’s Committee Nguyen Van Quang told the conference, which was attended by Prime Minister Nguyen Xuan Phuc, that investment agreements had been signed with 15 investors, including FLC Group with five projects in tourism and hi-tech agriculture worth nearly VND36 trillion.

“We are happy to see capital worth VND94 trillion into Hoa Binh from both Vietnamese and foreign investors,” Phuc said, adding that the Government would create favourable conditions for investors to do business there.

Phuc urged investors to hasten the implementation of their registered investments together with enhancing their social responsibility and protecting the environment.

Phuc said Hoa Binh Province needed to attach special attention to improve their provincial competitiveness index and give priority to removing difficulties for businesses.

Twenty-four years ago, on the ferocious Da River in Hoa Binh Province, the largest hydropower plant at that time was built, Phuc recalled. “If we have the aspiration and will, we can achieve the impossible. Investors, local authorities and the Government should work together to create success,” Phuc said.

Just less than an hour from Ha Noi thanks to the Lang-Hoa Lac-Hoa Binh expressway that opened in October, Hoa Binh had significant advantages to boost its socio-economic development.

Phuc said the expressway would be a new driver for growth for Hoa Binh Province and the northwest region.

Hoa Binh should focus on four areas to lift socio-economic development, Phuc pointed out.

First, with 75 per cent of the area being forestry land with a capacity of producing 400,000 cu.m per year, Hoa Binh should focus on developing its forestry sector. Phuc said Hoa Binh should exploit its largely uptapped forestry potential to contribute to developing Viet Nam into the world’s centre for wood products.

Second, Hoa Binh had the potential to develop hi-tech agriculture, Phuc said, adding that the province should target supplying agricultural products for the capital city then promoting its exports.

Third, the province should focus on boosting industrial production in sectors with rich potential such as the processing and manufacturing industry to generate jobs. The Government has allowed the province to build eight industrial zones.

Last but not least, urban development would be the impetus for Hoa Binh, Phuc said, adding that the focus should be placed on developing green and modern urban zones.

In the morning, Phuc had a working session with provincial authorities.

Phuc said that Hoa Binh Province needed to focus on completing its master plan and promoting regional links to establish production chains and expand its markets.

The province had gross regional domestic product of 8.36 per cent this year, ranking 19th out of 63 provinces and cities.

The province had attracted 38 foreign-invested projects worth $702 million and more than 500 domestic-invested projects worth VND66.8 trillion, half of which were operational and providing 28,000 jobs.

Within the framework of the investment promotion conference, three events will kick off in Cao Phong District concurrently today: a citrus festival, a five-day agricultural fair and a forum on the development of citrus trading in the northern mountainous region. — VNS

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