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Ninh Binh eyes investment promotion

Update: April, 02/2012 - 10:18

HA NOI — Northern Ninh Binh Province will speed up investment promotion between now and 2020, according to local Department of Planning and Investment Director Nguyen Chi Tinh.

The province would concentrate on projects capable of spurring multi-sector development, job opportunities and socio-economic efficiency to meet growth targets, he said.

Production, administration as well as industrial and tourism infrastructure would be improved to facilitate investment, he added.

Tinh confirmed that a national-scale investment promotion programme would be implemented in Ninh Binh during the third quarter to include sectors such as beer, handicrafts and fine arts, and electronics production in the Phuc Son Industrial Zone, ecotourism complexes in Tam Diep and Nho Quang districts and building material production facilities in Gia Vien.

The province currently has 440 investment projects with a total registered capital of about VND73.24 trillion (US$3.52 billion), 27 of which are foreign direct investment projects with a total capital of $595.7 million.

Tinh noted that steel, automobile, fertiliser, mechanic, port service, footwear as well as garment and textile projects were major sectors at present, with the province having additionally lured six cement initiatives with a total capacity of around 13 million tonnes per year.

Data from Ninh Binh's official website said the province last year reached a total export value of $263.7 million, with cement, iron and construction materials being key elements. Tourism saw significant growth over the last few years, with the number of visitors totalling 3.6 million in 2011. — VNS

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