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PM attends first-ever Bac Lieu investment promotion conference

Released at: 14:38, 31/01/2018

PM attends first-ever Bac Lieu investment promotion conference

PM Nguyen Xuan Phuc (3rd from left) Photo: Cong thong tin chinh phu

PM directs Mekong Delta province on requirements to bolster investment and development.

by Minh Do

Vietnam can become a world-leading country in shrimp production in the near future if plans are properly implemented, and this is the mission for Bac Lieu, Ca Mau and certain other provinces, Prime Minister Nguyen Xuan Phuc told the first conference on investment promotion held in the Mekong Delta’s Bac Lieu province on January 30, more than 20 years after its re-establishment.

This is the second investment promotion conference held this year, after south-central Phu Yen province on January 19.

With the theme “Raising Potential - Sustainable Development”, the conference attracted about 500 local and international participants, including heads of ministries, sectors, localities, investment promotion agencies, trade and business associations, corporations, enterprises, and investors inside and outside of the country.

Prime Minister Phuc witnessed Bac Lieu presenting investment certificates to ten projects and licensing more than 20 with total investment of over VND110 trillion ($4.84 billion). The renewable energy sector has new registered capital of over VND81 trillion ($3.56 billion).

He expressed his joy at the results of Bac Lieu’s development over the past year, as growth increased amid a host of difficulties. The highlight was the province’s development model getting underway, based on local comparative advantage, the application of technology, and strong and close interaction between agriculture, energy, and the environment towards sustainability.

The Prime Minister expressed his appreciation of Bac Lieu’s request to withdraw a coal-fired power project from Master Plan VII, which is something few other provinces would do. “The only thing we need is to create a better and more favorable investment environment to attract domestic and foreign investors,” he emphasized.

Based on comparative advantage, he added, Bac Lieu should be directed towards green development with four pillars: agriculture, with high quality rice, aquaculture, fishing and seafood processing, with a focus on shrimp; the development of renewable energy; processing technology; and tourism services.

Its vision and direction should be closely linked with the Mekong Delta and Ho Chi Minh City. It should link four provinces in the region: itself, Kien Giang, Soc Trang, and Ca Mau. It should become an industrial center for the shrimp industry in the country, including breeding, food processing, deep processing, and inoculants. Adaptations to climate change must be made in shrimp farming and aquaculture.

The province must also ensure the foundation of clean production, the application of science and technology to maintain the quality of water resources through strict control procedures in shrimp farming, develop a closed shrimp value chain, and actively control quality and reduce prices.

It should continue to improve its infrastructure, especially logistics services, and have quality human resources for shrimp farming, collecting, and processing. It is also important to have a well-planned raw material area and to take more active measures in raw materials for processing and export.

In tourism development, Bac Lieu must have a strategy to develop the number of tourists and think carefully about which market segment it should target, the Prime Minister said. It is also necessary to build a living eco-tourism system and improve the quality of tourism services, especially entertainment services and hotels.

Another issue is to develop rapidly and sustainably. The province must ensure that human resources are skilled, that it attracts advanced technology, and that it protects the environment.

In order to attract investment, especially large investors, the Prime Minister said the province should continue to improve its business investment environment and its dynamic index, transparency, and training of personnel. Administrative reform must be integrated into the country’s administrative reform, moving towards OECD standards regarding the investment environment.

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