The northern province of Ninh Binh will focus its investment in projects with high value and welcome investors with new ideas or breakthroughs in technology to promote its vast development potential.
An automobile production line at Hyundai Thanh Cong, a joint venture between Thanh Cong Group and the Republic of Korea's Hyundai Motor Group in Gian Khau Industrial Zone in northern province of Ninh Binh.
Dinh Van Dien, chairman of the provincial People’s Committee, said the province is committed to offering support on key projects including infrastructure development, high-tech technology and environmental friendly schemes in accordance with current State regulations.
Nguyen Cao Son, director of Ninh Binh province’s Department of Planning and Investment, said the province has attracted 55 Foreign Direct Investment (FDI) projects, worth more than US$1.25 billion.
The projects in the province are mostly textiles, manufacturing and auto assembly.
Investors from 11 countries and territories have invested in Ninh Binh including the Republic of Korea, mainland China, Taiwan (China), Singapore and Japan.
Most of FDI projects have been implemented effectively with revenue increasing each year, Son said.
The FDI inflow to the province reached US$69.15 million in the first half of this year, an increase of US$44.7 million compared with the same period last year.
The revenue brought by FDI enterprises has risen to US$436 million, up 13.5% over last year’s figure.
The projects also created jobs for almost 40,000 workers mainly in the textiles and footwear industry.
Dien attributed this to the ongoing efforts to foster administrative reforms, improve investment climate, accelerate investment promotion and resolve difficulties for investors.
Identifying tourism as key economic sector, the province has set up key tourist areas such as Tran An, Tam Coc-Bich Dong, Hoa Lu Ancient Capital, Phat Diem Church to attract investment in this area, he said.
In order to attract more FDI capital in the future, he said the province would focus on a number of measures including developing infrastructure for industrial zones like Gian Khau, Khanh Phu, Tam Diep, Khanh Cu and Phuc Son.
In addition, the province would focus on high-quality human resources training, encouraging collaboration between enterprises and colleges and vocational training centres to meet employee’s demand.
The province has requested the relevant departments to review administrative procedures, implementing one-door policy with a view to reduce time-consuming and cost for enterprises, he said.
To make it easier, it was necessary that investors be provided with updated information on its industrial development strategies, land and warehouse rental fees in its industrial clusters, Dien said.VNA