An attractive destination for investors

14:04 | 18/04/2014 Investment

(VEN) - Together with a favorable geographical location and preferential investment policies, Quang Binh Province has become an attractive destination in the eyes of domestic and foreign investors.

200 domestic and foreign investors attended the first investment promotion conference held by the Quang Binh Provincial People’s Committee on April 5, 2014 to learn more about the investment environment. Quang Binh Province granted investment certificates to 13 projects with a total investment capital of VND8.5 trillion and signed five memoranda of investment cooperation with a total capital of VND7 trillion and US$200 million. This is a large amount of capital within the framework of an investment promotion conference.

Quang Binh Province has engaged the interests of investors and remained an attractive destination for domestic and foreign investors. Quang Binh Provincial People’s Committee Chairman Nguyen Huu Hoai said that in recent years, the province has engaged the special attention of investors thanks to a favorable geographical location and preferential investment policies.

Quang Binh Province is located on the east-west economic corridor. The province has completed transport infrastructure, including airport, seaports, roads, railway and waterway. The province also has advantages in terms of tourism, the maritime economy, land resources, mining, building material processing, fisheries and economic and industrial zones.

In terms of the tourism sector, Quang Binh is famous for places such as the Phong Nha-Ke Bang, Heaven Cave, Son Doong Cave, Vung Chua and Swallow Island. The US’s New York Times voted Quang Binh Province as one of 52 most attractive destinations in the world. The province ranked eighth in the world and first in the Asian region.

In terms of the industrial sector, Quang Binh Province has also invested in the Cha Lo Border Gate Economic Zone, contributing to turning its economic zone into an export-import center for goods and services for central Laos, northeastern Thailand and the Mekong sub-region. In addition, according to the plan, the province will develop eight industrial zones covering on an area of about 2,000 hectares. In particular, the province has advantages in terms of renewable energy, wind power and thermal power development. According to a survey, the wind power system with a total capacity of 600-1,000MW can be built along the provincial coast. In addition to the national power grid, the province has prepared to invest in the construction of a thermal power plant with a capacity of 400MW in the Hon La Sea Port Economic Zone.

In addition to a favorable geographical location and abundant natural resources, Quang Binh Province has adopted many investment policies and strongly invested in transport infrastructure. Moreover, the province has publicized preferential policies for investors in terms of corporate income tax, training costs and technical infrastructure. Quang Binh has also improved the business environment through improving the Provincial Competitiveness Index (PCI). The province ranked 29th among 63 cities and provinces throughout the country in PCI 2013, an increase of nine ranks compared to 2012.

Quang Binh Provincial People’s Committee Chairman Nguyen Huu Hoai said that the province committed to accompany with investors./.

Chu Huynh