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Investment in Quang Binh thrives

Released at: 16:12, 13/04/2015

Investment in Quang Binh thrives

With favourable condition for business investment, the province has 320 registered projects with capital up to $5 billion.

by Hoai An

Last week, the Quang Binh Provincial People's Committee worked with enterprises to research and examine investment projects in the province.

Speaking at the meeting, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, Mr. Nguyen Huu Hoai, proudly stated that Quang Binh has favorable condition for development with its abundance of natural and human resources and synchronous infrastructure which is ideal for business investment. "Total registered investment projects in Quang Binh number 320 with capital of over $5 billion," Mr. Hoai said. "Of which, 158 projects were implemented with capital of $4 billion."

There are some notable projects such as Petro Vietnam's Quang Trach 1 thermal power plant with its capacity of about 3,600 MW and a total investment of more than $1.6 billion. Another is an oil pipeline to Laos with an investment of over $200 million.

Currently, along with the application of various incentives, the province also issued policies to support sectors that encourage investments such as tourism, infrastructure, high-tech industrial zones and agriculture.

Many investors are interested in investigating opportunities in Quang Binh. At the meeting, Taiwanese enterprises were eager to breed cattle and poultry on a large but self-contained scale. This project includes a plant for the production of livestock feed, a facility for processing poultry and other meats, and farms to raise an average of four million pigs and over ten million birds. This project is expected to create jobs for 20,000 employees with with revenue of $1.5 billion.

Quang Binh also established an expected list of 49 projects calling for investment including four in infrastructure, seven in the field of industrial production, four projects developing health, culture and education, and 32 projects in trade and tourism.

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