Vinh Long courts investors to back $1.1b project plan
Vinh Long courts investors to back $1.1b project plan
The Cuu Long (Mekong) Delta province of Vinh Long announced a list of 47 key projects to attract investment from now to 2015, according to the provincial People's Committee. In total, the projects will cost an estimated VND23.2 trillion (US$1.1 billion).
Over VND11.15 trillion ($531.2 million) will go to 15 infrastructure construction and industry projects while VND6.76 trillion ($322 million) will be set aside for urban and housing development.
In the trade and service sectors, the province is seeking investment for 15 projects worth VND2.57 trillion ($123 million) with a focus on developing infrastructure for traditional and agricultural wholesale markets and building more modern trade centres.
Sports and tourism, environmental protection and training and education are expected to attract VND2.72 trillion ($129.3 million) in investment.
The province offered investment incentives to domestic and foreign investors, including financial support in drawing up detailed plans and building projects as well as administrative assistance.
Investors can also seek assistance with technology, land compensation and clearance.
The province is reforming administrative procedures in order to implement a one-stop shop mechanism, which would be more convenient for investors, said Le Quang Trung, director of the province's Department of Planning and Investment. If investors ran into difficulty with their projects, provincial authorities would arrange direct meetings with local governments to help them.
The province is also focusing on high-quality human resource training, he said.
According to the Foreign Investment Agency, Vinh Long attracted 23 foreign-invested projects with capital totalling $111 million so far this year.
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