Quang Binh province has utilised its natural advantages and promoted internal forces to attract investment in recent years. With its incentives in tax, infrastructure, technology transfer and worker training support and other preferences, Quang Binh has become a promised land for investors.
Sustainability-centred investment attraction
Mr Le Van Phuc, Director of Department of Planning and Investment of Quang Binh Province, said: With persevering efforts to improve its investment environment and use foreign finances effectively, from 2006 to 2010 Quang Binh carried out 16 ODA projects worth US$122.4 million, which focused on following objectives: infrastructure development in poor rural and mountainous areas; agricultural and rural development; poverty reduction; and enhancement of urban planning capacity. In general, these projects were executed as scheduled, contributing significantly to the province’s socioeconomic development.
In the first six months of 2011, the province continued stepping up the implementation of projects as planned and strengthening inspection and supervision over work quality. At the same time, the province is working with international donors to attract more projects, particularly for irrigation infrastructure for agricultural production (with France), infrastructure development, environment and climate change projects (with the World Bank), and water supply projects for five communes in Quang Ninh district (with Italy).
Also during 2006 - 2010, aid from non-government organisations (NGOs) was effectively carried out. The province received aid of US$16.5 million, with US$15 million already disbursed, for sustainable development, natural conservation, water subsequence mitigation, vocational training, health care, poverty reduction, and infrastructure construction. By the end of the second quarter of 2011, Quang Binh attracted 33 projects worth US$4.7 million from 19 NGOs (US$2.2 million had been disbursed). Without doubt, NGO supervision and management was very good.
In 2006 - 2010, the province licensed three FDI projects (Xa Khia gold exploration project; Khe Nang gold exploitation and processing project; and disease-free white-legged shrimp culturing project) with a total registered capital of US$14.6 million. Currently, some other projects are being considered for licensing. Many investors from Japan, South Korea, Russia, Kazakhstan and other countries are searching for investment opportunities in Quang Binh.
Active in investment promotion
In the past term, the province launched a programme to improve the investment and business environment with synchronous, powerful, flexible and practical solutions. Thus, investment promotion activities brought in good results. By the end of 2010, the province licensed 233 projects with a total registered capital of VND91,637 billion. Many major domestic and international investors and corporations came to the province to seek investment opportunities. Many of them were licensed to carry out important projects in the locality like Song Gianh cement plant, Ang Son 1 cement plant, Ang Son 2 cement plant, Quang Phu steel mill, Van Hoa cement plant, Bang ecological resort, and others. Notably, Quang Trach Thermal Power Centre will be a new driving force for socioeconomic development of the province in the future. Investment promotion activities have definitely changed in nature, going from accepting any project to choosing the most suitable.
Investment promotion in six months in 2011 achieved positive results as many investors arrived in the province to find investment opportunities. To boost the effectiveness of this work, the province focused on renovating investment promotion methods from the pursuit of project quantity to the pursuit of quality, with financial capacity and determination taken into consideration. The province will continue reforming administrative procedures and advertising investment opportunities to the business community. Quang Binh has drawn up a list of projects calling for investment in the 2011- 2015 period. It has also prepared contents for investment promotion events in Vietnam and in foreign nations.
Tan Tung
Vietnamese
