Lang Son aims to attract $3.43b in investment

19-Sep-2019 Intellasia | VNS | 6:02 AM Print This Post

The northern border province of Lang Son plans to sign memorandums of understanding on more than 100 projects worth nearly VND80 trillion (US$3.43 billion) at the upcoming investment promotion conference to be held here later this month.

The announcement was made by the Provincial Committee vice chair Nguyen Cong Truong during a press conference in the capital on Monday.

The province will also introduce a list of 37 projects in need of investment capital for the 2019-25 period to domestic and foreign investors during the upcoming conference, according to Truong.

Among these projects, eight are related to transport and urban infrastructure, nine to trade, tourism and services and nine to agro-forestry-fisheries.

He added his province was committed to facilitating investors, offering them a number of incentives, towards creating a transparent, healthy and stable business environment.

The locality was adjusting the provincial socio-economic development master plan, the Dong Dang Border Economic Zone master plan, and stepping up administrative reform.

The locality would also focus on three prioritised sectors including infrastructure construction, trade, services for import-export and tourism, as well as agriculture, the vice chair noted.

Director of the provincial Department of Planning and Investment Nguyen Huu Chien said Lang Son offered tax reductions and exemptions as well as preferential land rent as regulated by the government.

It also provided water, electricity and road infrastructure worth no more than VND10 billion for each project, and focused on administrative reform and site clearance, he said.

The local economy grew by 8-9 per cent for the 2011-18 period, with agro-forestry accounting for 20.3 per cent, industry-construction 19.7 per cent and services 49.78 per cent.

The province set the goal of achieving 8-9 per cent growth in gross regional domestic product (GRDP) by 2020, with agro-forestry making up 19-20 per cent, industry-construction 20-21 per cent, and services 60-61 per cent, and per capita GRDP of $2,600-$2,700.

As of August 2019, Lang Son had 42 valid foreign-invested projects, worth $238 million, ranking 48th among 64 localities receiving foreign investment, statistics from the Foreign Investment Agency revealed.


Category: Economy, Vietnam

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