The central coastal province of Quang Binh is calling for investments of 48 projects during the 2018-20 period, with an expected amount of up to over VND50 trillion (US$2.2 billion).
The projects, expected to cover more than 8,000 ha of land, mainly focus on tourism, trade and services, industry, agriculture, education and healthcare.
Notably, 14 projects in tourism, trade, and services are expected to seek over VND37 trillion in investment, including coastal and ecological tourism and resort complexes. These are considered high-value projects that will create many jobs, increase local budgets and foster tourism development in the province.
In the field of industry, Quang Binh is seeking over VND8 trillion for five projects focusing on wind and solar power, electrical and electronic production and assembly, telecommunications, lightning equipment manufacturing, and auto assembly.
The province has attracted 14 investment projects, worth nearly VND3 trillion ($129 million) in total capital, to its industrial parks and economic zones so far this year.
With the new investments, the number of investment projects in the province’s industrial parks and economic zones has risen to 105, with a combined value of nearly VND50 trillion. Among them, there are five foreign investment projects worth more than $30 million.
The province has increased its promotions for investments in recent years, organising events both in and outside the country.
The local authorities have built a database of local advantages, potential, and needs, and provides extra support for investors, besides those stipulated by law, such as assisting in procedures for investment and construction.
Also, the provincial administration constantly reviews administrative procedures with a view to improving services for investors and local competitiveness.
During the past three years, industrial parks and economic zones in Quang Binh generated an average industrial production value of VND3 trillion per year and earned nearly VND1.5 trillion in export value. They also created jobs for 5,000 workers, providing an average monthly income of VND5.2 million ($223). — VNS