Quang Binh seeks $4b for 40 projects

Thursday, Mar 20, 2014 08:21

Hon La Port.— Photo sggp

HA NOI (Biz Hub) — The central province of Quang Binh is seeking nearly US$4 billion for 40 projects in highly competitive areas during 2014-15, officials said.

Nguyen Huu Hoai, the province chairman said that the areas included infrastructure, especially in industrial zones, tourism, industrial production, and agriculture. The province is also looking for investment in culture, healthcare, and education sectors, he said.

The province has called for investment in two key infrastructure projects, such as Bao Ninh and Phu Hai Urban Areas with a capital investment of at least VND1.1 trillion ($52.3 million).There are 9 tourism-related projects, including Phong Nha-Ke Bang, Da Nhay-Ba Trai tourism complex, and Dong Hoi golf course.

In the industrial area, the province have been looking for investment in 17 projects, including the Quang Trach 2 Thermal Power Plant with a 1,200MW capacity in the Hon La Economic Zone with an investment of $1.3 billion and a 20-hectare auto assembling factory with an investment of $500 million.

The wholly foreign-invested Hon La Port and oil pipeline project to Laos has an investment of $200 million.

Addressing a conference of potential investors in Ha Noi yesterday, Hoai remarked that the province has been considered as one of the destinations having a favourable business environment for both domestic and foreign investors in Viet Nam. The event jointly held by the province and the Bank for Development and Investment of Viet Nam was part of its preparation for the upcoming conference to promote investment in the province earlier next month.

"The Quang Binh Province has received 267 registered projects with a total investment of VND100 trillion ($4.76 billion), of which 158 projects have been under implementation with a registered capital of VND78.9 trillion ($3.75 billion)," Hoai added.

He reported that the province has announced special preferential policies for attracting investment. The important policies initiated by the province were related to taxes on land use right, land and water rentals and corporate income tax.

"In addition, the province will also initiate other policies to assist investors, such as labour training costs, land clearance, and technical infrastructure," he noted.

Dang Minh Truong, the general director of Sungroup that specialises in tourism and real estate claimed that the province has a lot of unexplored potential.

Truong stated that the group plans to invest in some tourism projects in the province while seeking commitments from the province in resolving possible issues relating to procedures and land clearance.

Hoang Anh Tung, the project development director of Vietjet Air reported that this year, the carrier will buy seven new aircraft, thereby bringing the total to 18.

"We plan to open new routes this year to fully utilise the new aircraft. We expect to receive support from the province as we will open the HCM City-Quang Binh Route this year," Tung remarked, adding that the route will promote tourism in the province.

Luong Ngoc Binh, the provincial People's Committee chairman noted that Quang Binh is committed to quickly resolving the difficulties faced by investors in order to accelerate their projects. — VNS

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