The northern province of Ha Nam is anticipating a wave of capital in diverse areas, Secretary of the provincial Party Committee Mai Tien Dung told a trade promotion forum in Ho Chi Minh City on August 6.
Based on its strengths in infrastructure and human and natural resources, Ha Nam is inviting investment in Dong Van 3, Dai Cuong, Thanh Liem and Thai Ha industrial parks – focusing on mechanical engineering, assembling, automobiles and motorbikes, electricity, electronics, telecommunications, information technology, support industry and farm produce processing and preservation.
Priority is also given to building a domestic customs clearance port, clean water and waste treatment plants in industrial parks and residential areas, cultivation and breeding, Dung said.
As of June 2015, Ha Nam had 500 valid projects worth about US$4.5 billion, 132 of which were foreign-invested and valued at US$1.3 billion.
To attract capital inflows, the province has rolled out a host of land and tax incentives, simplified administrative procedures and supplied a quality workforce.
Head of the Party Central Committee’s Economic Commission Vuong Dinh Hue, who was also present at the event, called for the local economy to be restructured to woo additional foreign direct investment.
Ha Nam should zone off large-scale farms as groundwork to establish a chain of quality farm produce as well as improve its business climate and the provincial competitiveness index.
Secretary of the Ho Chi Minh municipal Party Committee Le Thanh Hai pledged in his speech that the southern metropolis would encourage domestic and foreign firms to open representative offices across the country, including Ha Nam, with all possible support provided along the way.
As part of the event, the Ho Chi Minh and Ha Nam authorities also signed an economic cooperation agreement for 2015-2020.
A number of Vietnamese and foreign companies also received investment licenses.