Hà Giang attracts $706 million in investment

November 28, 2017 - 10:22

The northernmost mountainous province of Hà Giang attracted VNĐ16.1 trillion (US$706 million) worth of investment into 26 projects at a promotion conference on Monday.

Prime Minister Nguyễn Xuân Phúc delivers speech at a promotion conference yesterday in Hà Giang Province. — Photo VGP

HÀ NỘI — The northernmost mountainous province of Hà Giang attracted VNĐ16.1 trillion (US$706 million) worth of investment into 26 projects at a promotion conference yesterday.

Speaking at the Hà Giang Investment Promotion Conference, Prime Minister Nguyễn Xuân Phúc praised the province’s socio-economic development achievements, such as poverty reduction by 5 per cent annually, growth of 7 per cent in gross regional domestic product, forest coverage of more than 55 per cent and contribution to the budget worth VNĐ2 trillion, despite its disadvantageous geographical location.

Phúc also said he was impressed with the efforts of applying information and technology by local authorities, boosting e-commerce, tourism and preserving nature.

“Businesses play an important role in turning Hà Giang into a rich but sustainable province and accelerating tourism in the northwest region, as well as the entire tourism industry of Việt Nam,” Phúc said.

“What investors are doing today will not only contribute to enhancing the living standards of ethnic communities in Hà Giang but also lead to breakthroughs in the development of remote border areas.”

“Thus, Hà Giang will need more big investors,” Phúc said.

He said good business models and projects with inclusiveness and spillover effects, which provide jobs and stable incomes for local residents, should be targeted. This is key for the rise of the northwest region in general, and Hà Giang Province in particular, adding that the province had significant potential and competitive advantages in agriculture, medicinal plantation, tourism and border trade.

“Hà Giang Province must accompany business,” Phúc said, urging the development of a transparent and constructive government, cost-cutting for firms and improving overall competitiveness. Administrative reform must also be hastened together with improving land access for businesses, Phúc said.

Specially, Hà Giang should focus on boosting tourism through diversifying tourism products, developing community-based tourism, restoring and promoting traditional festivals and cultural values.

The province, which aims to become a key tourist attraction by 2020, has majestic mountain landscapes and a Unesco-recognised global geological park, as well as 19 ethnic groups living together with attractive festivals, natural and cultural heritages. The number of tourist arrivals to the province has risen consistently, and is estimated to reach 1 million with a revenue of VNĐ950 billion this year.

With famous specialties such as oranges, honey, tea and medicinal plants, Phúc urged the province to study policies to boost hi-tech and organic agricultural production together with building brands.

Nguyễn Văn Sơn, Chairman of the provincial People’s Committee said that the province was providing incentives to investments in border trade, agricultural production and tourism.

On the same day, Phúc had a working session with the provincial Standing Committee of the Party to tackle difficulties and create conditions for further socio-economic development.

He also visited Thanh Thủy International Border Gate.

---- inbox ----

Ground breaking ceremony for VNĐ2.5 trillion project

Yesterday afternoon, PM Phúc attended the ground breaking ceremony for dairy firm TH Truemilk’s cow breeding and hi-tech milk processing plant, worth VNĐ2.5 trillion, in Vị Xuyên District’s Phong Quang Commune.

Phúc said that the project’s location in a remote area was important to socio-economic development and would bring benefits to local residents and contribute to the restructuring of the agricultural sector.

The project would have a capacity of raising 10,000 heads of cattle, together with a raw material plantation area of 663 hectares plus 2,000 hectares of local farmers. The plant would apply advanced farming and management technologies from Israel and New Zealand.

The project is expected to create jobs for 500 direct labourers and thousands of indirect labourers.

This is the first huge dairy farm and hi-tech milk processing project in the northern border provinces, which will have a radical impact on livestock farming in the region. — VNS