Central Highlands province strives to lure more investors

16:31 | 04/11/2018 Economy

The Central Highlands province of Gia Lai has worked hard to improve its investment environment and competitiveness in a bid to attract more domestic and foreign investors.  

A view of Pleiku city in Gia Lai - Source: baodautu.vn

Gia Lai has implemented a socio-economic development cooperation program with Ho Chi Minh City to optimise their potential and support legal corridors for a healthier investment environment for common growth.

After 15 years of cooperation, 26 enterprises of Ho Chi Minh City have invested in 27 projects worth over 6.3 trillion VND (US$269.6 million) in Gia Lai, while Gia Lai businesses have run 22 projects in Ho Chi Minh City with total investment of 30 trillion VND (US$1.28 billion).

Alongside, Gia Lai is hosting four foreign-invested projects and many other projects funded by investors both in and outside the province.

As part of its efforts to support enterprises, Gia Lai has made its administrative procedures more open and transparent through the launching of a public administrative centre.

In 2017, Gia Lai leaped three positions in the provincial competitiveness index (PCI) compared to 2016, ranking 43rd out of 63 provinces and cities nationwide, and 3rd in the Central Highlands region.

Nguyen Truong Hung, director of the ACOM Gia Lai coffee processing factory under the Atlantic Vietnam Company - one of the four foreign-invested projects in Gia Lai with an investment of US$2 million and export revenue of over US$50 million, said that after six years of operation, the plant has enjoyed many preferential policies, including land rent exemption in 10 years and tax reduction.

Hung expressed his hope that with the support from the province, the firm will expand its business in the coming time.

So far this year, Gia Lai has attracted 11 projects with total investment of 500 billion VND (US$21.4 million), raising the total projects accommodated by the province so far to 80. Of the total projects, 46 have become operational with total export revenue of nearly US$220 million.

Pham Van Binh, head of the Gia Lai Economic Zone Management Board, said that the province has focused on reforming its administrative procedures towards one-stop-shop services.

Meanwhile, investors will receive specific guidelines during their investment process and assistance in removing obstacles.

Binh said that Gia Lai is currently building a project to construct the Southern Pleiku Industrial Park, which is scheduled to be approved by the Prime Minister in November, giving more spaces to host investors.

Theo VNA