Vietnam Outlines to Attract Foreign Investors
Bac Giang, Vietnam outlines plan to lure investors to invest
BAC GIANG, Vietnam – The northern province of Bac Giang aims to attract new investment totalling VND10 trillion (US$488 million) in 2013, with VND5.5 trillion ($268.3 million) to come from foreign investors. The provincial People’s Committee would encourage investment in projects that are environmentally friendly, apply advanced technology and have high added value.
The People’s Committee vice chairman Lai Thanh Son said projects in agriculture, rural development and infrastructure construction would be particularly welcomed.
To reach the target, Bac Giang would continue advertising its investment climate and opportunities on both domestic and overseas markets, he said.
In addition to hastening administrative reforms in business registration and investment licence approval and land leasing, the province also vowed to support investors in land clearance and compensation, he said.
Since the beginning of this year, the province has attracted six new projects, worth a combined $9.8 million, according to figures from the provincial Department of Planning and Investment.
These latest additions have brought the number of projects registered in the province to a total of 694, worth $3.38 billion. Of these, 108 projects worth $1.8 billion were foreign-invested.
Among the largest projects are a $1.1 billion touchscreen production facility to be built by Taiwan’s Wintek Viet Nam Co, a $30 million coffee processing facility being developed by the Trung Nguyen Group, and a modern slaughterhouse complex costing $32 million.
All of these projects were expected to contribute to economic restructuring, enhance industrial production value, increase tax revenues, and generate jobs for local people, the department said.
Source: Vietnam News