HÀ NỘI – The northwestern mountainous province of Hòa Bình received a total inflow of VNĐ94 trillion (US$4.1 billion) in registered capital at an investment promotion conference held in Hòa Bình City on Tuesday afternoon.

Chairman of the provincial People’s Committee Nguyễn Văn Quang told the conference, which was attended by Prime Minister Nguyễn Xuân Phúc, that investment agreements had been signed with 15 investors, including FLC Group with five projects in tourism and hi-tech agriculture worth nearly VNĐ36 trillion.

“We are happy to see capital worth VNĐ94 trillion into Hòa Bình from both Vietnamese and foreign investors,” Phúc said, adding that the Government would create favourable conditions for investors to do business there.

Phúc urged investors to hasten the implementation of their registered investments together with enhancing their social responsibility and protecting the environment.

Phúc said Hòa Bình Province needed to attach special attention to improve their provincial competitiveness index and give priority to removing difficulties for businesses.

Twenty-four years ago, on the ferocious Đà River in Hòa Bình Province, the largest hydropower plant at that time was built, Phúc recalled. “If we have the aspiration and will, we can achieve the impossible. Investors, local authorities and the Government should work together to create success,” Phúc said.

Just less than an hour from Hà Nội thanks to the Láng-Hòa Lạc-Hòa Bình expressway that opened in October, Hòa Bình had significant advantages to boost its socio-economic development.

Phúc said the expressway would be a new driver for growth for Hòa Bình Province and the northwest region.

Hòa Bình should focus on four areas to lift socio-economic development, Phúc pointed out.

First, with 75 per cent of the area being forestry land with a capacity of producing 400,000 cu.m per year, Hòa Bình should focus on developing its forestry sector. Phúc said Hòa Bình should exploit its largely uptapped forestry potential to contribute to developing Việt Nam into the world’s centre for wood products.

Second, Hòa Bình had the potential to develop hi-tech agriculture, Phúc said, adding that the province should target supplying agricultural products for the capital city then promoting its exports.

Third, the province should focus on boosting industrial production in sectors with rich potential such as the processing and manufacturing industry to generate jobs. The Government has allowed the province to build eight industrial zones.

Last but not least, urban development would be the impetus for Hòa Bình, Phúc said, adding that the focus should be placed on developing green and modern urban zones.

In the morning, Phúc had a working session with provincial authorities.

Phúc said that Hòa Bình Province needed to focus on completing its master plan and promoting regional links to establish production chains and expand its markets.

The province had gross regional domestic product of 8.36 per cent this year, ranking 19th out of 63 provinces and cities.

The province had attracted 38 foreign-invested projects worth $702 million and more than 500 domestic-invested projects worth VNĐ66.8 trillion, half of which were operational and providing 28,000 jobs.

Within the framework of the investment promotion conference, three events will kick off in Cao Phong District concurrently today: a citrus festival, a five-day agricultural fair and a forum on the development of citrus trading in the northern mountainous region.  – VNS