Khanh Hoa attracts big investors

The People's Committee of Khanh Hoa Province has just reported to the Ministry of Planning and Investment on the province's 2024 investment promoting program. Accordingly, the province will focus on attracting potential investors, capable of implementing large projects.

Since the beginning of the year, the provincial People's Committee has organized many investment promoting conferences in various fields. In particular, the province coordinated with the Ministry of Planning and Investment and the Ministry of Construction to organize a conference to announce the provincial planning and investment promotion in 2023. At the conference, the provincial People's Committee signed a memorandum of understanding with 16 strategic investors in the fields of technology development, software production, industrial park infrastructure development, high-class resort tourism and high-tech aquaculture with a total registered capital of more than VND 80,000 billion.

Northern Van Phong area with large land is suitable for large-scale projects.

To continue this result, in the investment promoting plan in 2024, the provincial People's Committee will selectively attract investment, giving priority projects which are high-tech, environmentally friendly, high added value and partly promoting fast and sustainable socio-economic development. The province focuses on attracting investors from Japan, Korea, Singapore, the US and countries that are members of free trade agreements; especially focusing on attracting experienced, capable and highly contagious investors. For domestic investors, the province gives priority to calling on investors with brands and prestigious partners of domestic as well as foreign banks and investment funds, and successful investors in the province as well as other localities.

The scale of the projects and the amount of capital have also been increased than before. In the fields of information technology, ocean, maritime, biotechnology, marine pharmaceuticals and marine ecology, the province only accepts projects with an investment capital of 1,500 billion VND or more. In the field of construction investment, trade and financial centers, the province attracts projects with an investment capital of 12,000 billion VND or more. Regarding investment in urban areas, the size of the land area must be from 300 hectares or the population size of 50,000 people or more. Particularly for the business of high-class hotels, resorts and general entertainment with golf courses, the projects are required a capital scale of more than 25,000 billion VND.

A view of Nha Trang City

The 2024 investment promoting plan aims to improve the quality and efficiency of investment promoting activities in order to attract investment capital into key projects contributing to the province's socio-economic development, improving the investment and business environment, and enhancing the competitiveness of the province to aim the target of become a city directly under the Central Government.

According to Chau Ngo Anh Nhan - Director of the Department of Planning and Investment, with the urgent requirement of implementing the central resolutions on the construction and development of the province, the provincial People's Committee has implemented many solutions to create breakthroughs and mobilize in a timely and effectively large domestic and foreign resources. In which, the provincial People's Committee has reorganized the provincial Center for Investment Promotion and Enterprise Support under the Department of Planning and Investment. At the same time, the provincial People's Committee issued a decision to establish the Provincial Steering Committee for Investment Promotion and Enterprise Support to effectively implement annual investment promoting programs and solutions to improve the investment environment and the Provincial Competitiveness Index. In addition, the province also has established a working group to assist the Steering Committee for Investment Promotion and Support for Enterprises to assist the Steering Committee in implementing work related to investment promotion and business support in the province.

NGUYEN TAN TUAN - Deputy Secretary of the Provincial Party Committee, Chairman of Khanh Hoa Provincial People's Committee: To achieve goals in promoting investment, in the coming time, the provincial People's Committee will organize the effective implementation of the provincial plannings; in September 2023, completing the construction of the Khanh Hoa Provincial Urban Development Program to 2030, with orientation to 2045. The province will continue to effectively implement the Investment Promoting Program in 2023; which focuses on concretizing the contents of the memorandum of understanding between the provincial People's Committee and investors at the conference to announce the planning and investment promotion of Khanh Hoa province in 2023, effectively attracting the list of key projects in accordance with the resolutions of the Central Government. In addition, the province will complete and promulgate a regulation on coordination in exchanging, providing information and solving difficulties and problems for businesses and investors; successfully organized the Dialogue with Businesses and the Khanh Hoa - Japan Investment Promotion Conference in 2023.

Dinh Lam

Translated by T.T