Quang Binh seeks $1b for 35 projects

Update: July, 01/2015 - 09:20

Quang Binh is expected to become a huge tourism centre in Viet Nam as well as the Asian region. — File Photo

HA NOI (VNS) — Central province Quang Binh will call for investments worth VND23.4 trillion (US$1.08 billion) in 35 key projects in the commerce and tourism sectors at an investment promotion conference in August.

Speaking at a meeting held in Ha Noi yesterday, Tran Bac Ha, chairman of the management board of BIDV, said the event is aimed at drawing investors' attention to attractive and highly competitive fields such as infrastructures, industrial zones, industrial production, agriculture, as well as culture, healthcare, and education.

In addition, preferential mechanism and policies will also be introduced at the conference.

Ha said an investment of over VND45 trillion ($2.08 billion) was committed for the locality during last year's conference.

"The BIDV initiated the conference in 2005 as a model to connect the Government, investors and banks in investment promotion. The model had proved effective during previous conferences in the Central Highlands, North-Western region, and central-southern region, especially in the socio-economic development of local areas," he added.

Nguyen Huu Hoai, chairman of the provincial People's Committee, pointed out that the province, which is located at the East-West corridor, with synchronous transport infrastructures such as seaports, airports, roads, railways and rivers, has several strengths and potential to develop tourism, forest resources, exploitation, building material processing, electricity, as well as seafood, industrial parks, and industrial zones.

Hoai added that the province has been considered one of the localities offering a positive investment environment to both domestic and foreign investors.

"We have granted investment licences to 320 projects, with total register capital worth $5 billion. Of this, there were 11 FDI projects with total capital reaching $107 million. Nearly 160 projects with $4 billion total register capital were disbursed," he said. — VNS

Some investors have conducted surveys on several large projects in the province's tourism sector. Sungroup has invested VND5 trillion ($231 million) in tourism projects in Phong Nha-Ke Bang and Bao Ninh-Hai Ninh. An Viet Investment and Infrastructure Development Company has conducted studies to invest in a resort and golf course complex. In addition, businesses from South Korea and India have researched to invest in the areas of beach tourism and ecology.

The province is expected to become a huge tourism centre in Viet Nam as well as the Asian region.

Le Van Phuc, director of the Department of Planning and Investment, said the province will implement the highest preferential norms stipulated by the Government and Investment Law.

They will also spend on supporting investors in land clearance and technical foundation outside of IPs.

The representatives of Vingroup, Sungroup, FLC Group, and An Viet Company also expressed their desire to invest in the locality, expecting support from the province to accelerate their investment projects. — VNS