Post date: 13/11/2007

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Quang Binh Economy: high growth rate by investment environment improvement

Quang Binh is one of hardest-hit disaster localities in the Central region in 2007, but in the past ten months, Quang Binh economy achieved a high growth rate and completed targets of yearly plan.

Trade: In the first ten months of 2007, export turnover of Quang Binh reached US$ 45.8 million, up to 51% compared with the same period last year (in 2006, only achieved US$ 35 million) and exceeded at 11.59% of yearly plan. By the end of this year, export turnover would be estimated to reach US$ 56 million. In 2007, more than 80% of commodities have been exported directly. A lot of non-State enterprises have taken the lead, namely: Trang An Company, Truong Sinh Company, Viet Trung Rubber Company and so on.

Tourism has seen great leaps. In October 2007, there were 524,604 turns of tourists coming to Quang Binh, increased by 2.1%; of which international tourists were 19,025 participants, up to 83%; visitors to Phong Nha - Ke Bang world natural heritage were nearly 240,000 turns; total revenue from tourism was estimated at over VND 244 billion, increased by 25%, contributing VND 17,574 million to the State budget, up to 19.8%.

Quang Binh's success is by the diversity of investment fields, incentive policies for export enterprises and promoting the strengths of locality in import and export fields. In 2007, therefore, budget revenue from import-export taxes across the Cha Lo border gate in 10 months achieved nearly VND 60 billion, means of exit and entry were over 20,000 turns, import-export commodities were more than 180,000 tonnes, etc.

Director of Department of Trade and Tourism Tran Tien Dung said, "Business investment environment improvement Program of the 2006-2010 period" issued by the Decision No.19/2007/QD-UBND aims to create an attractive and convenient environment to investors. Of which, there are 10 main solutions, including: building infrastructure and key projects; reform of administrative procedures; adjusting socio-economic master plan; developing human resources; using all forces effectively; renovation in thought of investment attraction; improving the quality of investment attraction; strengthening popularization; supervising business investment environment; ensuring security, etc.

Quang Binh's export turnover target to 2010 will be US$ 45-50 million, but with such economic growth rate in 2007 (estimated at US$ 56 million) and an attractive business investment environment, Quang Binh's remaining economic targets to 2010, such as number of enterprises up to 2,000 enterprises, attracting 5-10 FDI projects, total invested capital of foreign and domestic projects at minimum level of VND 10,000 - VND 15,000 billion, would come true.

Source: Thuong Mai Newspaper

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