Quang Ninh issue preferential FDI policies

07-Jan-2007 Intellasia | 11-SEP-2002 Dau Tu Page 4 | 2:08 PM Print This Post

Deputy head of the Quang Ninh management unit of industrial parks and foreign investment said that two groups of official solutions to promote investment would be issued. They are administrative procedure reform, and investor support through investment encouragement and protection policy.

The provincial people’s committee will announce a new list of projects calling for investment as well as information about procedures and prices for land leasing for reference. Government agencies are not allowed to directly contact and transact business with foreign invested firms unless conforming with the predetermined programme and approval of the provincial management unit. At the same time, state agencies are not allowed to inspect foreign invested firms without prior approval by the provincial people’s committee.

Apart from projects with investment capital of over US$15 million, the province gives priorities to investment projects in such sectors as aquaculture, seafood, agriculture and forestry, which cover an area of 80 hectare or more for each project; production and application for information and technology, biological technology, new materials and environment protection projects.

In addition, investment projects of aquaculture, technology and environment protection located in highlands and mountainous areas will be paid the whole cost of site clearance. Projects using agricultural land in rural areas will be also paid for a half of the site clearance cost.

According to Quang Ninh People’s Committee, in the first eight months of this year, the provincial committee has granted licenses to nine new investment projects with total approved capital of nearly US$18.2 billion and four expansion projects with total capital of over US$16.7 billion.


Category: Business

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