Thai Nguyen to Hold Investment Promotion Conference

Thai Nguyen to Hold Investment Promotion Conference

The northern province of Thai Nguyen will cooperate with the Ministry of Planning and Investment (MPI) to organise a conference on investment promotion on October 14 in Hanoi. With a determination of creating a breakthrough in improving investment environment, Thai Nguyen wishes to cooperate with local and foreign investors on a basis of its potentials, opportunities and preferential policies.

This will be the first time Thai Nguyen holds an investment promotion conference in a large scale and in a methodical manner. The conference will see participation of over 250 foreign businesses and over 100 companies in the province. Deputy Chairman of Thai Nguyen People's Committee, Duong Vuong Thu said that the conference will not only introduce advantages of the province, but it will also point out difficulties that investors may face when coming in Thai Nguyen. He, however, confirmed that the province's authorities would solve all subjective impediments as soon as possible.

During the forthcoming conference, it is expected that 15 investors will be granted investment licences with total registered investment capital reaching up to thousands billion Vietnamese dong. Fields getting special investment incentives from the Thai Nguyen Province are processing and trading of agricultural produce, mineral exploitation, mechanical high technologies, metallurgy and other fields using massive labor.

Thai Nguyen Province locates in the central position of the country's northeastern region, 80 kilometres far from Hanoi. The province has potentials of land, natural resources, minerals and human resources. It posted a gross domestic product (GDP) growth of 9.2 per cent in 2003. Some big projects are under construction in the locality including a cement plant, which uses modern blast furnace technology and has a capacity of producing 1.4 million tonnes of cement a year; a 180MW/year thermal power plant; and an electroplating-based galvanizing factory.

As at the end of September 2004, Thai Nguyen Province has 18 valid foreign-invested projects with total registered capital of US$205.5 million, of investors from seven countries and territories of Canada, Japan, Singapore, Malaysia, China, Taiwan and S. Korea. Meanwhile, total registered investment capital of domestic enterprises reached VND6.4 trillion (US$406.87 million). Thai Nguyen has 34 State-owned enterprises, 917 private companies, 239 cooperatives and 15,447 household businesses.

• Kim Phuong