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Kiên Giang makes US$11.3 billion plan for development

Update: June, 13/2017 - 16:33
Đá Bạc Islet in the southern province of Kiên Giang. The province is taking measures to raise capital for socio-economic development by 2020. — Photo
Viet Nam News

HÀ NỘI — The southern province of Kiên Giang aims to mobilise VNĐ255 trillion (US$11.3 billion) for socio-economic development by 2020.

Of this, as per plan, 68 per cent will come from the private sector, 13 per cent from the State budget, 6 per cent from foreign direct investment and the remaining 13 per cent from other sources.

To meet this target, the province has drawn up measures to improve its investment environment and accelerate investment, which includes establishing one-stop shop administrative procedures for granting investment licence and improving connectivity with other provinces and cities.

Kiên Giang will review, supplement, adjust and improve the quality of its planning activities and its plans – both master plans and plans for specific sectors such as tourism, agriculture, aquaculture, industry; it will create favourable conditions for enterprises to upgrade technologies and access markets and credits; and train labour.

Mai Văn Huỳnh, vice-chairman of the provincial People’s Committee, said Kiên Giang would focus on improving its infrastructure, speeding up the construction of the southern coastal road and the Lộ Tẻ-Rạch Sỏi stretch of National Highway No 80; consolidating its sea dyke system and irrigation projects; and investing in electricity grid on islands.

Up to now, Kiên Giang has attracted 690 domestic projects worth VNĐ451.5 trillion. Of this, 321 projects have been in operation, accounting for 31 per cent of the registered capital. The province has also attracted 41 FDI projects from 19 countries and territories with a total registered capital of $1.44 billion, of which 37 per cent has been disbursed. — VNS


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