News Detail - Quang Tri Portal

Signing Memmorandum of Understanding with DOHWA to construct a biomass power project

In order to promote the potentials and opportunities of the province as well as exchange experience in investment promotion, the province has organised and attended many investment promotion conferences at home and abroad, contributing to signing many cooperation agreements with organisations and investors as well as create favorable conditions for local enterprises to cooperate with foreign enterprises in all fields.

In the past years, the province has actively coordinated with central agencies to organize six investment promotion conferences at abroad, including Laos, Cezch, Australia, Thailand, Germany and South Korea. Besides, the province has also received many investors from foreign countries such as India, South Korea, Cezch, Taiwan, Thailand, etc and some big corporations to survey investment for their key projects such as the cable car system project in Phong Nha - Ke Bang region funded by the SunGroup, the construction of trade centre funded by the VinGroup, the a bounded warehouse and oil pipeline from Hon La port to Khammouane province (Laos) funded by the Lao Petro Company.

In particular, the Provincial People's Committee in coordination with the Commercial Joint-stock Bank for Investment and Development of Vietnam has held two conferences to promote investment and popularise local tourism, and achieved remarkable results. At the 1st Quang Binh investment promotion conference which was taken place in April of 2014, the Provincial People's Committee has granted certificate of investment to 13 projects with a total registered capital of VND8,508 billion and inked cooperation agreements with o5 investors to conduct 10 projects with a total investment of VND11,600 billion. At the 2nd Quang Binh tourism and investment promotion conference which was held in August of 2015, the province has granted certificate of invesetment to 09 projects with a total capital of VND876 billion, sign investment agreements with 09 projects with a total expected capital of VND14,972 billion.

So far, many projects have been carried out construction and put into operation such as the five-star Muong Thanh Hotel expansion project, the Coopmart trade central project, the Logistics system development project at Cha Lo International Border Gate Economic Zone, the garment project for export of the S&D Company, the garment plant of Vinatext.

From early year to now, many domestic and foreign investors has carried out surveys and sought investment opportunities in the province, including the Hanoi Tourism Corporation, Vietnam Association of Tourism, Vietnamese Business Association in Germany, Dohwa Corporation (South Korea), Bombay Finance Corporation (India), Kinderworld Singapore Eduction Group, Cezch - Vietnam Department of Trade and Industry and the enterprises from the northeast of Thailand. As a result, the province has signed a Memmorandum of Understanding with the Bombay Finance Corporation (Quasathu Company, India) for 03 projects on developing and expanding the Phong Nha - Ke Bang ecological resort with a total investment of USD185 million, the spa resort and bottled water assembly in Phuc Trach with a total capital of USD18 million and the infrastructure of the Vietnam - Indian Industrial Park under the Hon La Economic Zone in Quang Tung commune, Quang Trach district with a total estimated investment for first phase of USD100 million.

Besides, the Provincial People's Committee has also inked a cooperation agreement with Dohwa Corporation (South Korea) on biomass power project with a scale of 300MW, introduced location for the Kinderworld Singapore Education Group to construct the Pegasus International University and College project in Bao Ninh and the Pegasus ecotourism complex in the buffer zone of Phong Nha - Ke Bang National Park.

In addition, in the first seven months of 2016, the province has newly issued 77 investment projects with a total registered capital of VND10,613 billion, including key projects of the Hai Ninh luxury resort of the Faros Construction Joint-stock Company with a total investment of VND3,600 billion, the FLC Quang Binh resort with a total investment of VND4,800 billion, the project of raising beefs of the Hoa Phat Company with a total capital of VND996 billion, the project of raising cows in association with afforestation of the Quang Binh Milk Company, Ltd with a total investment of VND319 billion, etc.

So far, the province has 508 projects which are granted investment licences with a total registered capital of VND95,453 billion. Some key projects have currently completed final procedures to start construction such as the FLC luxury resort, Vincom trade centre project and Bao Ninh - Hai Ninh golf course project of the An Viet Infrastructure Development and Investment Company.

Besides, the province has also attracted 11 foreign investment projects with a total registered capital of USD91.92 million, of which 04 projects in industrial parks (USD26 milion) and 07 projects outside industrial parks (USD65,92 million ). The projects has mainly focused on the fields of trade, import and export of goods, mining industry, agriculture, aquaculture, transport services, waste treatment, etc.

So far, the province has also attracted 21 projects from the official development assistance (ODA) with a total committed capital of over USD110 million. Especially, in the first seven months of the year, the province attracted 04 ODA projects on sustainable environment in Dong Hoi city, reparing and improving safety for lakes and damps in Quang Binh province, local bridge construction and road asset management; basic infrastructure for comprehensive development of the provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri. Generally, the projects has improved the life of local people, narrowed distance between the regions, created conditions for trading, goods exchange and economic development in the far-flung and remote areas, aiming to promote socio-economic development, help the province escape poverty and reach the average of the whole country.

On the other hand, the province has also paid attention to mobilisation and attraction of NGO capital with 201 projects, worth USD20.755 million. At present, the projects have disbursed USD18.962 million, helping poverty alleviation, vocational trainning, support for persons with disabilities and disadvantaged children, landmine clearance and urgent reliefs for disaster-hit regions, etc.

In general, these remarkable results has affirmed the effort in building comprehensive infrastructure to meet the demand of investors, and implementing sound policies and a safe, attractive investment environment, contributing to creating driving force to promote socio-economic development of the locality.

By Nhu Y
(Source: Quang Binh Portal)