News Detail - Quang Tri Portal

Besides, the province attracted 09 foreign direct investment (FDI) projects with a total registered capital of USD71.81 million. The province also actively mobilised and called upon foreign investors to seek more opportunities in the province such as the Dohwa Corporation - South Korea, the Bombay Finance Group - India, the Kinderword Education Corporation - Singapore, the Czech-Vietnamese Chamber of Commerce and Industry and the enterprise delegation of the Northeast Thailand. Through the cooperations, the province inked a Memmorandum of Understanding on cooperation with the Bombay Finance Group - India (Quasathu Company) on implementing three projects, including the project of development and expansion of Phong Nha - Ke Bang ecological resort (a total estimated investment of USD185 million); the project of construction of Phuc Trach hot sping tourist site and bottled water production line (a total estimated investment of USD18 million) and the project of infrastructure construction of Vietnam - India industrial park in Quang Tung commune, Quang Trach district under the Hon La Economic Zone (a total estimated investment of USD100 million for the first phase); the Dohwa Corporation - South Korea on the solar and biomass power project with a capacity of 550MW in Le Thuy district. Besides, the province also mobilized 179 NGO projects with the committed capital of USD20,733 million, contributing to eliminating hunger and reducing poverty, vocational training, assisting the persons with disabilities, providing an urgent support for disaster-hit areas...

So far, the province has 16 ODA projects, 17 FDI projects and 57 NGO projects for operational registeration, of which the province received 04 ODA project, 03 FDI and 42 NGO projects in 2016 and the first quarter of 2017 alone.

However, foreign investment attraction has met many difficulties such as legal system and policies of investment attraction have not synchronized; administrative reform is still insufficient; the coordination between all agencies an levels in mobilizing resources for development investment is not tight enough; the province's budget is difficult, therefore, it has not timely solved compensation and site clearance.; technical infrastructure has not met the requirements of some large investment projects in the area...

In the period of 2016-2020, in order to promote cooperation between Quang Binh province and investors, sponsors and international organizations, contributing to mobilizing source of foreign investment for socio-economic development, all levels, agencies and localities will continue reinforcing and expanding cooperative relations with foreign investors, international organizations and sponsors to attract about 150-170 FDI, ODA and NGO projects with a total registered capital of USD1,268 million; reaching 60% of registered capital disbursed. Concretely, the province strives to attract 25% of total ODA capital in the 2016-2020 period with a total capital of USD255 million; 50% of FDI capital with a total registerd capital of USD1,000 million; 71 NGO projects with a total registerd capital of USD13.0 million, rate of disbursement is estimated to reach 80% of total registered capital.

In order to complete the set targets, all levels, agencies and localities should strengthen directions, uphold strengths of political system in foreign investment attraction for socio-economic development; focus on renovating administrative procedures, style of working and attitudes of officials to investors; strenthen the propaganda on the list of projects calling for investment; build up a website on foreign investment on the Quang Binh Portal for foreign investors, sponsors and international organizations to easily access information on the projects calling for investment as well as preferential policies and coordinative mechanism in the process of preparation and implementation of the projects.

Besides, all levels, agencies and localities will continue implementing the programmes on foreign non-governmental aid mobilizations in the period of 2014-2018 and approving the promotion programmes in the following periods on the basis of concretizing the Central policies and orientations on mobilizing foreign non-governmental aids, meeting the demands and practical situation of the province in each period.
In addition, investment in essential infrastructures is given a top priority, making a great contribution to foreign investment attraction, especially foreign direct investment (FDI) projects. The province focuses on mobilizing all resources for investment and development of essential socio-economic facilities, Hon La Seaport Economic Zone, Cha Lo Border Gate Economic Zone, concentrated industrial parks; taking an initiative in creating a clean land fund to welcome investors.

The levels, agencies and localities strengthens the training of human resources, especially the officials who work in external economic affairs with professional qualifications and good management, foreign languages; improving the ability of the agencies relating to investment attraction for ODA, FDI and NGO projects; raising the sense of initiative in close collaboration with foreign investors and sponsors to implement foreign investment attraction.

By Nhu Y
(Source: Quang Binh Portal)