The FLC Quang Binh beach and golf resort in Hai Ninh Commune, Quang Binh Province. —Photo diaocvinahomes.vn

The central province of Quang Binh has given in-principle investment approval to key projects in the locality, the online newspaper baoquangbinh.vn reported.

The largest project is the 45ha Quang Trach 2 thermal power plant, to be invested by Vietnam Electricity (EVN), in Quang Dong Commune. The plant, expected to cost more than VND47.16 trillion (US$2 billion), will comprise two units with the first slated for completion in 2028 and the second to go operational a year later.

Two other projects include the VND2 trillion ($86 million) Sunrise Bao Ninh resort and service complex, to be financed by the province-based Truong Thinh Co in Bao Ninh Commune, and the Bac Ly urban area, to be developed in Dong Hoi City across 33ha.

Vinh Hung Co also received the green light from authorities to develop the 90ha Vinh Hung resort, sports and trade centre complex valued at VND2.7 trillion ($116 million).

Last year, the provincial People's Committee approved in-principle 60 investment projects, worth more than VND2.95 trillion.

The decisions were attributable to the province's efforts to facilitate reform through shortening the time for administrative processing, regularly providing updated information and data on planning, and the latest mechanisms and policies to businesses and investors, and guiding them on how to approach investment incentives in an effective manner.

Meetings between local authorities and businesses held quarterly also proved effective in tackling difficulties firms had been facing.

This year, Quang Binh would continue to review, update and build a new list of projects calling for investment from 2021-2025, the committee said. — VNS