Converging Advantages to Attract Investors

10:58:21 AM | 15/3/2021

Not only enabling inclusive economic development with its own advantages, Ninh Thuan always puts the interests of enterprises on top. With the spirit of “stronger self-reliance”, Ninh Thuan is making important breakthroughs, making efforts with investors to overcome difficulties, especially since the COVID-19 epidemic outbreak from late 2019.

Very favorable conditions

Ninh Thuan is endowed with enormous advantages that not all localities have. Lying in the South Central Coast, the province is bordered by Khanh Hoa province in the north, Binh Thuan province in the south, Lam Dong province in the west and the East Sea in the east. With a 105-km long coastline, the province's fishing grounds are located in waters with rich and diverse marine resources of over 500 species of marine creatures. The coastal area has many bays for tourism development, aquaculture development, and shrimp farming, one of strengths of the fisheries sector. Therefore, the marine economy has been defined as a key economic sector which has attracted a lot of investment funding and received a lot of incentives from the province, including fisheries, marine tourism, salt production and post-salt chemical industry.

Given these advantages, Ninh Thuan introduced investment attraction policies, especially for aquaculture. The Ministry of Agriculture and Rural Development also built a high quality shrimp seed production and testing center in Ninh Thuan. At present, many investors are coming to this place to produce shrimp seed.

In the first six months of 2020, despite facing “double difficulties” - severely hit by drought and affected by the COVID-19 epidemic, Ninh Thuan province still attracted more than VND14,000 billion of investment capital, and had 311 new companies with a combined registered capital of VND2,088 billion, an increase of 12.7% over the same period. 2020 was also the 5th year in a row the province saw double-digit growth in newly established enterprises. This impressive achievement was highly appreciated by the government and the business community. Needless to say, all of the above success came from the strong action of Ninh Thuan province to deal with emerging difficulties and problems encountered by local businesses, reduce the time for handling administrative procedures, apply information technology and provide online public services.

Best facilitating businesses

In the coming years, Ninh Thuan province aims to promote its advantages of marine tourism, ecotourism, history and culture to make tourism a really important economic sector. Ninh Thuan also has, and will, made many decisions to optimize its potential and advantages, form industrial zones, and attract large domestic and foreign investors. The province will continue to strongly improve the investment and business environment, and provide the most favorable conditions for investors to speed up their project progress, especially large-scale projects in various advantageous fields such as wind power, tourism, industrial production, and titanium mining. It will effectively review existing investment projects to promptly remove emerging difficulties and handle slow-moving or inactive investment projects.

Ninh Thuan province will further enhance the accountability of agency leaders and intensify administrative discipline probes. The locality will focus on polishing the brand of locally distinctive products, boosting trade promotion, and stepping up market search. It will have consistent solutions to carry out training programs and projects and improve the quality of human resources; and encourage well-reputed domestic and international training facilities to establish bases in the province.

As a bridge to connect the Southeast economic region with the Central Highlands and South Central provinces, Ninh Thuan is gradually asserting itself as a good land for investors to locate their projects.

Source: Vietnam Business Forum