Quang Binh targets to attract US$1.5b in the next 10 years

Wednesday, Jun 24, 2020 15:51

A view of Dong Hoi City, Quang Binh. The province expects to attract US$1.5 billion in foreign direct investment by 2030. — Photo cafef.vn

The north central coastal province of Quang Binh has set the target of attracting a total of US$1.5 billion in foreign direct investment (FDI) by 2030, according to the provincial Department of Planning and Investment.

In the 2021-25 period, the province expected to attract around $0.6-0.8 billion FDI and $1-1.2 billion for the 2026-30 period.

The planning and investment department said that the province would focus on attracting FDI in sectors of the province’s strength, including renewable energy, tourism, services, processing and manufacturing industry and hi-tech agriculture, which were appropriate to the provincial, regional and national planning.

The province would strive to improve the business climate and provincial competitiveness as well as enhancing quality and efficiency in FDI management.

Deputy Chairman of the provincial People’s Committee Nguyen Xuan Quang said that Quang Binh would increase and renovate methods of dialogue with investors to tackle problems they were facing.

In addition, management would also be enhanced to ensure FDI projects are appropriate with the planning and bring socio-economic efficiency and protect the environment.

Projects which caused pollution and inefficiency in land use or those incurring losses for many years or failed to follow commitments would be dealt with, he said.

There were 20 valid FDI projects in Quang Binh Province as of May 20, worth $766.5 million, according to statistics from the Foreign Investment Agency. — VNS

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