Quang Tri - promising land for investors

17:06 | 28/10/2017 Investment

A favorable geographical location is one of the central Quang Tri province’s advantages in attracting investment, said Chairman of the provincial People’s Committee Nguyen Duc Chinh. 

Quang Tri has, so far, attracted 330 projects worth about 69.5 trillion VND (3.05 billion USD) - Source: VNA

Speaking at a trade promotion seminar in Hanoi on October 17, the official said Quang Tri has good transport conditions in terms of road, railway and waterway, as the province is located at the intersection of the North-South and East-West economic corridors.

Of note, the East-West Economic Corridor, which runs through 13 cities and provinces of Myanmar, Laos, Thailand and Viet Nam, including Quang Tri, is the shortest trans-Asia route, he said.

Quang Tri is also one of the leading localities nationwide in forestation and timber product processing and export, he said, adding that the coastal province has silica sand deposits which can be used for glass and construction material production.

The province also has potential for renewable energy and tourism development.

According to the official, Quang Tri has, so far, attracted 330 projects worth about 69.5 trillion VND (3.05 billion USD), including 14 foreign direct investment projects valued at 1.02 trillion VND (44.9 million USD).

The businesses have accounted for 47.6 percent of the province’s Gross Regional Domestic Product and created about 35,500 jobs.

Minister of Planning and Investment Nguyen Chi Dung said over the years, Quang Tri has improved its investment climate by raising human resource quality, streamlining administrative procedures and upgrading infrastructure.

The Ministry of Planning and Investment will work with other ministries and agencies to create optimal conditions for investors in Quang Tri, he pledged.

Lim Hng Kiang, Singaporean Minister for Trade and Industry, said many Singaporean investors have come to seek investment opportunities in Quang Tri.

In March 2017, Sembcorp and KinderWorld Groups of Singapore examined the locality in preparation for an industrial and urban complex project, and Pegasus ecotourism project, he said.

Theo VNA