The northern province of Phu Tho aims to attract domestic and foreign direct investment capital worth between VND5.5 trillion and VND6 trillion (US$244.5-263.2 million) this year, an increase of 10-15 per cent year-on-year.

The province wants investment projects in high technology industry and supporting industry, which can contribute to the State budget and socio-economic development of the province.

To achieve the goal, the province will enhance reforms and administrative procedures simplification, shorten time to solve administrative procedures, improve the investment environment and increase provincial competitiveness.

Provincial leaders will also meet with investors, enhance professionalism of officers and promote investment focusing on potential projects.

Nguyen Minh Xuyen, deputy director of the provincial planning and investment department, said that last year, the province organises 30 meetings with both domestic and foreign investors.

In term of local businesses, the province has invited many potential investors such as Trung Nam Group, Vingroup, Sun Group, Song Hong Thu Do and Thaco Truong Hai.

The province last year also granted licences for 181 investment projects, including 169 domestic ones with total registered capital of VND8.78 trillion and 12 FDI with total capital of $254 million.

The number of newly registered enterprises last year was 586, up 10.5 per cent compared to 2016 and registered capital was estimated at VND3.78 trillion, up 67 per cent year-on-year. — VNS