Aiding development in the central region with diversified capital sources
Aiding development in the central region with diversified capital sources
In addition to the rapid disbursement of public investment capital, a series of foreign businesses in the central region have embarked on sizable projects.
The central province of Nghe An secured an additional $400 million in foreign investment in January.
After nearly a year of implementation, Chinese investor Goertek Group has scaled up its investment capital from $100 million to $500 million in a project for the manufacture of network hardware, audio equipment, and other electronic products.
According to Nguyen Duc Trung, Chairman of Nghe An People's Committee, the project will become a driving force helping to entice other investors to the province when it comes into operation.
Promoting innovation in the application of science and technology is crucial to help the central region secure investment following the pandemic.
In Quang Tri, the People's Committee and a consortium have begun planning the technical component of the Hai Lang liquefied natural gas power plant. At 1,500MW in its first phase, and with total investment of more than $2.3 billion, it is the largest gas power project in Quang Tri thus far.
At the end of 2021, Kurz Group was awarded an investment certificate in Binh Dinh province for a thin film and emulsion production project based at Becamex VSIP Binh Dinh Industrial Park.
Nguyen Phi Long, Chairman of Binh Dinh People's Committee, expects the project to lead to a strong increase in foreign investment, especially from Europe.
The Central Key Economic Zone has given priority to the improvement of transport links. For example, Danang is developing green urban areas to the west and northwest and is set to accelerate the implementation of key projects, including the construction of Lien Chieu port, the expansion of passenger terminal T1 at Danang International Airport, and the upgrade of national highways 14B, 14G, and 14D.
Quang Nam, meanwhile, aims to turn the coastal area into a chain of compelling tourist destinations, whilst also focusing on clean industry and high-tech agriculture.
Le Minh Duong, director of Southern Investment Promotion Centre based in Danang, believes that the central region is gradually recovering its inherent strengths and potential. He noted that promoting innovation in the application of science and technology is crucial to help the central region secure investment.
