Photos: Viet Tuan
South-central province calling for about $1 billion in investment in local projects.
The Ninh Thuan Provincial People’s Committee has recently approved a range of projects in which it seeks to attract investment during the 2016-2020 period.
“The province is seeking nearly $1 billion in direct investment capital in 57 local projects,” Mr. Truong Xuan Vy, Deputy Director of the Ninh Thuan Department of Planning and Investment told VET on July 26.
The projects are in various sectors but the province is focusing on principle economic fields and advantageous sectors, including services, hospitality, real estate, agriculture, industrial engineering, and energy.
Some are major projects, such as the Ninh Chu seaport, with investment of $120 million, the Phuoc Dan wind power plant with $59 million, and several others in the construction of urban areas, five-star hotels and luxury resorts.
Provincial authorities will hold an investment promotion conference from August 10 to 15 in coordination with the Ministry of Planning and Investment and the Ministry of Foreign Affairs.
The conference will introduce the potential and advantages the province possesses and seek investment capital to drive its economic growth and narrow its development gap with other provinces nationwide in general and provinces in the south-central region in particular.
It hopes to attract some 350 participants from the government, ministries, corporations, and local and foreign investors. There will also be a forum for bilateral and multilateral sponsors, international organizations, non-government organizations (NGOs), investors, and domestic and overseas enterprises to meet together and exchange investment opportunities.
Another aim is to enhance diplomatic activities and mobilize ODA and support from NGOs. The province’s tourism potential will also be highlighted.
Attendees will also be invited to the opening ceremony for the Tan My Dam project and the breaking ground ceremony for the Trung Nam Wind Power Plant.
Ninh Thuan is considered to have significant potential in energy generation and foreign investors have already expressed an interest in the sector. Japan’s Leverage Company sought investment opportunities last April in the province’s renewable energy sector.
As at the end of June Ninh Thuan had 36 FDI projects with total investment capital of about $963 million.
It is also home to a nuclear power plant with estimated investment of around $10 billion, which is expected to be completed and put into operation in 2028.