Luring further investment to the central highlands
Monday, March 13, 2017 - 16:39:13
(VOVworld)- Prime Minister Nguyen Xuan Phuc and leaders of Ministries and sector have promised to create favorable conditions for the Central Highlands to tap its potential. At a conference to promote investment in the Central Highlands, investors promised to accompany the region to boost its growth.
Prime Minister Nguyen Xuan Phuc urges for further investment in the Central Highlands
Over the past few years, Central Highlands provinces have strengthened investment promotion and brought into play their potential. From 2011 to 2015, the region’s development investment reached nearly 12 billion USD, a year on year increase of 11.33%. Investment by the private sector increased from 53.4% to 69.28%. There are 140 FDI projects worth 800 million USD being implemented in the province. In the next five years, total investment in the region is expected to reach 10 billion USD.
Creating open investment mechanism, sufficient investment capital for the region
Minister of Planning and Investment Nguyen Chi Dung urged the region to boost its development to ensure its stability. He said the Ministry of Planning and Investment will help the region realize this goal: “The Ministry of Planning and Investment promises to create breakthroughs in improving the business environment and supporting enterprises. The Ministry will work with other ministries and sectors and central highlands provinces to develop specific policies, promote the local investment environment, and address difficulties to increase inter-regional connectivity and mobilize resources to contribute to the region’s rapid and sustainable development”.
Prime Minister Nguyen Xuan Phuc and leaders of Ministries and sector have promised to create favorable conditions for the Central Highlands to tap its potential
The Governor of the State Bank of Vietnam Le Minh Hung said the State Bank will continue to work with ministries, sectors and localities to fine-tune specific credit mechanisms and realize credit policies for the region. Hung said: "We will ask our credit organizations to ensure sufficient credits for the region. Based on the development plan of the region and each locality, we will work out ways to help enterprises and individuals obtain investment capital. At this conference, credit organizations pledged to lend more than 13 billion USD for 36 projects to boost the regional socio-economic development.”
Creating conditions for foreign investors
Foreign investment in the central highlands region remains modest. So far, the region’s foreign investment accounts for only 0.65% in terms of projects and 0.25% in terms of registered capital of Vietnam’s total foreign investment. Minister Nguyen Chi Dung urged the region to reform investment promotion methods and survey investors’ needs. Prime Minister Nguyen Xuan Phuc said Vietnam needs to ensure macro-economic stability and maintain the value of the Vietnamese dong to attract foreign investors to the central highlands and Vietnam. Mr. Phuc said the Vietnamese government will provide favorable mechanisms for investors: “It’s important to protect property rights, human rights, and citizen rights in line with the Constitution and law. The Vietnamese government will continue to improve Vietnam’s business environment to be one of ASEAN’s top investment destinations.”
Shinya Ezima, Vice President of the Japan International Cooperation Agency, which has had a number of investment projects in the Central Highlands over the past few years, said he believes that the Central Highlands has great potential. He said JICA will increase its investment in the region in the near future.
The Prime Minister says the Central Highlands plans to focus on developing organic agriculture, and ecological biodiversity, and promoting its cultural heritage. Because of commitments made at the Investment Promotion Conference, the Central Highlands region expects that rapid, sustainable growth will make it a key economic region.