Effective Investment Promotion Solutions Prioritised

Knowing that its economy still has a lot of difficulties and limited resources, Kon Tum province is determined to keep innovative in investment attraction to seize external resources for local socioeconomic development investment and this is a groundbreaking step to build up the platform for development in the coming time.

 

In recent years, Kon Tum province has continuously accelerated administrative procedure reform, built and perfected database (introducing investment potential, guiding investment procedures, project lists, etc.), organised and taken part in many conferences and seminars in Vietnam and in other countries to show local potential and advantages and signed development investment cooperation agreements with other localities in Vietnam like Ho Chi Minh City and Lam Dong province and with some foreign provinces like Attapeu, Sekong and Champasak (southern Laos), Ubon Ratchathani (Thailand), and Rattanakiri (Cambodia) to attract investors.

 

Especially, Kon Tum province also rearranged the Kon Tum Investment Promotion Centre (IPC Kon Tum) to better seek investors; advise, guide and support them to explore investment opportunities and invest in the province. Then, IPC Kon Tum has quickly become a favourite address for investors and companies when they come to Kon Tum province.

 

With its efforts to carry out consistent, focused investment promotion with innovative contents and methods, Kon Tum province has achieved positive results in investment attraction, evidenced by the increase in licensed projects and value. Investment projects have helped boost growth, restructure the economy, create jobs, contribute to the local budget revenue, and transfer technology, improve production efficiency, and generally change the look of the province.

 

In the coming time, to attract big investors and prepare for sufficient resources for development breakthroughs, Kon Tum province will continue to carry out synchronous solutions and give priority to effective investment promotion solutions.

 

The province will focus on changing investment promotion methods to draw investment capital for three dynamic economic zones: Ngoc Hoi district with Bo Y International Border Gate Economic Zone (including key projects like industrial zone infrastructure construction, agro-forestry product processing, bonded warehouse, border markets, etc.), Kon Plong district with Mang Den National Tourism Site (including key projects like smart agriculture development, ecological tourism site, and community tourism, etc.), and Kon Tum City with industrial and urban zones. The province will urgently invest in essential infrastructure in industrial zones, tourist attractions and handicraft villages according to the approved planning and the Bo Y International Border Gate Economic Zone; increase investment for infrastructure in economically and socially difficult localities; and create a favourable environment for domestic and foreign investors.

 

Kon Tum will focus on potential investors as well as fields and products with comparative advantages; mobilise maximum foreign investment capital; solicit ODA funds for technical infrastructure in economic zones and socially and economically difficult areas; and attract development funds from donors (like ADB) into Cambodia - Laos - Vietnam Development Triangle, including Kon Tum province.

 

In addition, another effective investment promotion solution launched by Kon Tum province is its incentive and support policies and mechanisms for investors and enterprises; issue and enforce consistent investment encouragement and incentive policies; provide mechanisms to facilitate them to access land; and hold talks with them and open telephone hotlines for them to answer their questions about policies. To enhance the efficiency of investment attraction, the province will continue to speed up administrative reform, improve the quality of public administration services, raise the quality of personnel in charge of investment promotion to better fulfil their tasks, and strengthen and elevate the operational capacity of business support entities.

 

Supporting businesses and investors is seen as a key task for Kon Tum province to raise the efficiency of investment attraction into target sectors, advance growth pace, and uphold its roles and positions in the Central Highlands. Effective investment promotion activities are constantly launched in a bid to make the investment and business environment more open and more favourable. Synchronous infrastructure and transport system development will be an important prerequisite to lure more investors to Kon Tum, who will substantially contribute to the development and the pace of industrialisation and modernisation of the province.