For Higher Effect of Local Investment Projects

Despite being hit by the COVID-19 pandemic, the Thai Nguyen Land Development Fund and the Thai Nguyen Development Investment Fund have made great efforts to overcome difficulties and successfully completed their assigned tasks, hence helping create a foundation for the province to attract investment projects to develop infrastructure, expand production, business and socioeconomic development.

In 2021, the value of disbursed public investment exceeded 100% of the plan in Thai Nguyen province. Many important projects achieved and exceeded the progress, partly assisted by quick site clearance and infrastructure construction performed by the Thai Nguyen Land Development Fund.

The fund checked documents, asked competent authorities to advance VND68.812 billion for six projects to carry out site clearance and infrastructure construction to serve health, transport, urbanization and cultural fields. The projects included Thai Nguyen Traditional Medicine Hospital, extended Nam Song Cong - Dai Tu Road; Urban Area 4 and Urban Area 5 in Huong Son town (Phu Binh district); Phu Binh Square; and the yard for Hang Pagoda Festival in Cho Chu town (Dinh Hoa district).

In 2021, the Thai Nguyen Development Investment Fund financed projects and took on projects from the Thai Nguyen Housing - Land Fund and Infrastructure Investment Development Center (dissolved) to hand them to localities under the direction of the Provincial People’s Committee. The fund received and appraised the loan of VND5 billion for the Thai Nguyen Land Fund Development Center to build the technical infrastructure for Urban Area 5 in Huong Son town (Phu Binh district); worked with TNG Investment and Trading Joint Stock Company and Minh Dung Investment and Trading Joint Stock Company to study loan plans for the construction of industrial zones, commercial centers, urban areas and residential areas.

In addition, the Thai Nguyen Development Investment Fund directly invested in one urban construction project in Huong Son town (Phu Binh district). To date, the project has basically completed construction items and finished auction documents to sell land-use rights. This will give a facelift to Phu Binh district and create a driving force to attract other investment resources for the locality. Also in 2021, the fund handed over technical documents of two residential and urban projects to Thai Nguyen City People's Committee for management.

Currently, Thai Nguyen province is strongly attracting investment flows for many important projects to be launched in the near future. In 2022 and the following years, the two funds will focus on promoting their financing capacity and effectively performing their functions and duties under the direction of the Provincial People's Committee. Then, they will help boost investment attraction and enhance the effect of projects on development of production, business, trade, service, tourism, healthcare and education, as well as local socioeconomic development as a whole.

By Vietnam Business Forum