Central provinces prepare to welcome investors

Besides reviewing the implementation progress of existing investment projects, provinces in the Central of Vietnam are urgently building and completing infrastructure, changing promotion forms, and preparing to welcome new sources of domestic and foreign investment capital when the Covid-19 pandemic has initially been controlled.

The construction of Cam Lo - La Son Expressway project. (Photo: SGGP)

The construction of Cam Lo - La Son Expressway project. (Photo: SGGP)

From the beginning of this year to now, the Covid-19 pandemic has been complicated, affecting the socio-economic development, but the investment attraction in the Central provinces still has seen many optimistic signs. Da Nang City had attracted nearly VND14 trillion of domestic investment capital and more than US$120 million of foreign investment capital in the first seven months of this year. At the same time, the city had granted investment policy decisions for six domestic projects outside industrial zones with a total investment capital of more than VND16 trillion.

Mr. Tran Phuoc Son, Director of the Department of Planning and Investment of Da Nang City, said that the city currently has 867 FDI projects with a total registered capital of nearly $3.52 billion and 31,661 enterprises with a total registered capital of VND216.92 trillion. In which, three projects that have completed the stage of construction include the Sunshine aerospace components manufacturing project, the expansion of the Mabuchi Motor electronic components factory, and Key Tronic electronic equipment manufacturing and assembling factory. The construction of some other projects is also about to start.

Dien Nam - Dien Ngoc Industrial Park and Chu Lai Open Economic Zone in Quang Nam Province continue to be the destinations chosen by many investors. The most impressive thing is that Chu Lai Open Economic Zone has seven more projects licensed for investment with a total registered capital of more than VND5 trillion. Mr. Ho Quang Buu, Vice Chairman of the People's Committee of Quang Nam Province, said that the province has been implementing cooperation programs with domestic and foreign investment consulting firms and research institutes to carry out research activities and evaluate the potentials and investment trends of foreign investors, such as Japan, South Korea, the US, and Europe. At the same time, they will research and evaluate market potentials, trends, and investment partners according to topics and industries as a basis to call for investment into the group of key projects.

Since the beginning of the year, many major projects in Thua Thien – Hue Province have also been implemented on schedule. The Billion Max Vietnam Export Processing Factory project, which is considered as a bright spot, has been put into operation phase 1, and the construction of the whole factory has accelerated. Machines and equipment in phase 2 have been installing following the committed schedule. The Hue Amusement & Beach Park project is expected to disburse another VND100 billion by the end of this year. Mr. Nguyen Dai Vui, Director of the Department of Planning and Investment of Thua Thien - Hue Province, said that the province has changed the investment promotion plan in 2020 to accord with the reality to welcome opportunities. Of which, the province focuses on large projects that create added-value and budget revenue and affect the socio-economic situation of the province in the coming time.

Despite the impacts of the Covid-19 pandemic, Binh Dinh Province has actively implemented the first stage of the coastal traffic route from Cat Tien to De Gi with an investment of over VND1.26 trillion. This road is considered as the backbone connecting Quy Nhon City with Nhon Hoi Economic Zone and the 1,770-hectare megacity in Southern De Gi. The provincial People's Committee also sent a document to the Ministry of Planning and Investment, submitting to the Government, to consider and arrange support from the budget or foreign investment capital of nearly VND7.6 trillion to complete the construction of this coastal road project in the period from 2021 to 2025. The project is expected to create a new large coastal land fund for the province that will motivate marine economic development in combination with tourism and coastal urban areas in the province.

Besides the investment implementation of nearly VND5.12 trillion from the 5-year medium-term public investment capital in the period from 2021 to 2025 to develop the technical infrastructure of industrial zones and economic zones from now to 2025, Thua Thien – Hue Province also kicked off a coastal road project from Phong Dien District to Phu Loc District with the length of 127 kilometers. In which, some sections coincide with the Highway 49B, so the total length of the whole route is now 85 kilometers whose total investment is expected to be at VND6.48 trillion. This will be a strategic route, connecting the central and national routes, and the driving force for marine economic development in the coming time. The representative of the Department of Transport of Thua Thien – Hue Province said that the sections that coincide with Highway 49B are invested by the Ministry of Transport under the planning. As for the sections coincide with the provincial roads, the provincial People's Committee is coordinating with ministries and industries to report to competent authorities for consideration and allocation of capital as a basis for the implementation.

By V.Thang, N.Phuc, N.Oai – Translated by Bao Nghi

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