01:55 (GMT +7) - Wednesday 26/04/2017

Vietnam Today

$16bn in new investment for Quang Nam

Released at: 14:12, 27/03/2017

$16bn in new investment for Quang Nam

PM Phuc attends a ceremony to launch the public administrative and investment promotion centre in Quang Nam. Photo: VNA

Central province licenses 33 projects on March 26, primarily in industrial production, urban development, tourism, training, and hi-tech agriculture.

by Ngoc Lan

Quang Nam authorities granted investment decisions and licenses to 33 projects with total registered capital of $15.8 billion at an investment conference on March 26 attended by Prime Minister Nguyen Xuan Phuc.

Investment is going to many sectors, including industrial production, urban development, tourism, training, and hi-tech agriculture, with strategic cooperation agreements also signed for the development of the automotive industry and mining and gas processing.

Prime Minister Phuc underlined Quang Nam’s advantages, in particular transport links with nearby Da Nang and potential in forestry and tourism.

He also emphasized a series of government policies for investors, especially a commitment to maintain a peaceful and stable environment on the principle of respect for Vietnam’s sovereignty.

Mr. Dinh Van Thu, Chairman of the Quang Nam Provincial People’s Committee, said that provincial leaders always support enterprises in removing difficulties and creating a favorable environment for investors.

Annual per capita income in the province has reached over VND53 million ($2,400), above the national average, the PM added.

He also hailed the province’s efforts in improving the investment environment, which has benefited the Truong Hai Auto Corporation - one of the country’s largest private companies.

He urged local authorities to continue focusing on developing sectors such as forestry processing, tourism, information technology, organic agriculture, and precision machinery.

Quang Nam attracted 30 projects last year, bringing the total number of valid projects to 135 with capital totaling nearly $2 billion.

Thanks to the will of the local people to turn the province’s sandy soil into fertile land, Quang Nam is now one of the Top 20 localities in Vietnam, with rising GDP, and ranks 10th among all cities and provinces in terms of budget revenues.

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