Quang Tri seeks project funding

Wednesday, Apr 13, 2016 09:46

Tourists enjoy Cua Tung beach, Vinh Linh District, in the central province of Quang Tri. — VNS Photo Truong Vi
HA NOI (Biz Hub) — The central province of Quang Tri is calling for domestic and foreign enterprises to invest in 17 projects by 2020, the provincial People's Committee said.

The projects specialise in a wide range of sectors including energy, processing, leather and footwear, sea ports, tourism and services.

Among the large-scale projects are the 1,350-megawatt Hai Lang gas-fuelled power plant, expected to cost US$1.5 billion; Cua Tung-Cua Viet coastal resort, worth approximately $110 million; and Truong Son tourism and service complex valued at $50 million.

Committee Vice Chairman Nguyen Huu Dung told a press conference yesterday in Ha Noi that the province would have a hotline through which investors can address their difficulties. The province will also be able to fulfill commitments in land, tax and administrative reforms.

Dung added that Quang Tri would organise an investment and tourism promotion conference in the locality on Sunday to better advertise its advantages and investment opportunities, and introduce the list of projects to domestic and foreign investors.

At the event, deputy general director of the Bank for Investment and Development of Viet Nam (BIDV) Tran Phuong said his bank would provide a VND15 trillion ($667 million) loan to the province for socio-economic development from 2016 to 2020.

Located in the north-central region, Quang Tri has many advantages in terms of geographic location and adequate transport facilities connecting the province with other localities. This has allowed the province to develop industries such as mining and mineral processing, electricity, agro-forestry-fishery, marine economy and tourism.

However, the province's foreign direct investment still lags behind its potential.

As of December 2015, the province attracted only 21 foreign-invested projects with capital totaling $86 million, ranking 57th among 63 localities nationwide, according to the Foreign Investment Agency under the Ministry of Planning and Investment. — VNS

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