Thanh Hoa promotes inclusive growth
Thanh Hoa promotes inclusive growth
Thirty two projects with a total investment of more than VND135.3 trillion (US$6.1 billion) in Thanh Hoa Province were granted licences at the province’s investment promotion conference held in Sam Son on Thursday.
The major investment promises to turn the north central coastal province into a destination for huge projects, mainly in the manufacturing and processing industries, urban development and tourism.
“With its ample advantages, Thanh Hoa should work to become a model to attract investment,” Prime Minister Nguyen Xuan Phuc said.
The PM described Thanh Hoa as a miniature Viet Nam, with a dynamic economy full of potential. He urged hastened efforts to improve the investment environment and to ensure a level playing field for businesses, creating favourable conditions for firms to operate at low land-use costs and with simplified administrative procedures.
He also agreed with local plans to develop oil refining, aquatic processing and tourism. The PM suggested studying the development of hi-tech agriculture and focusing on products with high economic value.
He encouraged businesses to invest in agriculture and infrastructure while diversifying services and taking advantage of heritage sites such as Ho Citadel and Lam Kinh historical relic site, as well as community-based and craft village tourism.
Phuc said at the event that to increase enterprises’ competitiveness and to build a strong business community, the province should train skilled workers, help businesses make long-term investments and join the global value chain.
He noted that the province could not pursue business at any cost but instead must pay special attention to protecting the environment.
“The Government will provide opportunities for Thanh Hoa to become an exemplary locality to achieve its investment targets,” Phuc stressed
Various Government projects are planned for the province, such as the Ha Noi – Thanh Hoa – Nghe An expressway, a coastal route to prevent natural disasters, and upgraded seaports and airports.
“With determination and innovation in thought and action, Thanh Hoa will succeed in achieving inclusive growth,” Phuc said.
Pledge by province
Chairman of the provincial People’s Committee Nguyen Dinh Xung said that Thanh Hoa will apply preferential policies and investment incentives at the highest level for investors.
“Investors will enjoy the highest incentives at the lowest obligations in the regulatory framework,” Xung stressed.
Xung pledged to create the best conditions for businesses, including labour training, land clearance and transparency. The province will have dialogue with firms on the 21st every month to tackle their difficulties.
Xung said that the province calls for in investments in five core pillars: processing and manufacturing, agriculture, tourism, healthcare and urban and infrastructure development.
The province is concentrating resources in completing the infrastructure system for Nghi Son Economic Zone, which has already attracted $17 billion worth of investments and industrial parks.
Being the largest investor in Thanh Hoa--which poured around VND20 trillion (US$877 million) in 10 projects in the province--FLC Group praised the province’s large potential and favourable business environment.
Thanh Hoa covers more than 11,000sq.m. and has a population of 3.6 million people, ranking fifth nationwide in natural area and third in population.
The province has immense potential for tourism, with more than 150 kilometres of coastline and dozens of heritage sites.
Per capita average income was US$1,620 at the end of 2016, the highest level in the north central region. It is expected to reach $1,750 in 2017.
The province is striving to record economic growth of 12 per cent this year.
