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Do The Nhu (C), vice chairman of Dak Nong Province, briefs reporters in HCMC about the forthcoming investment forum - Photo: Quoc Hung |
The Central Highlands province of Dak Nong will organise an investment forum in HCMC next week to call for investment into 30 projects with total capital of VND9 trillion ($486 million).
Do The Nhu, vice chairman of the province, told a press meeting in HCMC on Tuesday that Dak Nong Province was promoting investment in a range of sectors including tourism, new urban and infrastructure development, manufacturing and construction. Preferential policies will apply, he said.
On the list to be put forth to investors at the investment forum scheduled for December 17 at the Reunification Palace will be 14 manufacturing projects needing VND3.1 trillion, seven infrastructure development projects worth VND3.2 trillion and five tourism projects requiring VND2.6 trillion, Nhu said.
The province will also call for VND200 billion for projects in culture, agriculture, trading and education, he said.
The province, some 200 kilometers from HCMC, has more than 200,000 hectares of agricultural land and a population of 486,000.
Some investors appreciated the potential of the province but were put off by poor infrastructure and human resources. Preferential policies will be needed to hook them up.
“The province creates the most favorable conditions for investors. Dak Nong is considered one underdeveloped locality, so we will introduce a series of incentives to lure more investors at the coming conference in HCMC,” Nhu said. Incentives include infrastructure facilities to be developed at the expense of the local government.
Nhu said the province would announce specific policies to attract investment such as building main infrastructure like electricity, water, roads and communications and barriers at zoned industrial parks, industrial complexes and tourist sites. Investors investing outside industrial parks and tourism areas will also be offered many incentives, he said.
The seminar is expected to draw over 300 local and international companies. Local authorities will explain the economic potential, the strengths and the investment policies of the province which has so far attracted only six projects from foreign investors capitalized at US$18 million.
