According to the provincial Department of Planning and Investment, the money was poured into 27 projects, including ten foreign direct investment and 17 domestic investment ones, tripling last year’s number.
The locality currently hosts 562 valid projects with a total registered capital of US$4.57 billion, 165 of which are funded by foreign investors.
One of the largest projects is a US$135 million factory of the Hoa Sen Group that manufactures steel pipes, uPVC and HDPE pipes at the Kien Khe I Industrial Park. It is expected to offer approximately 1,000 job opportunities.
Highlights include those in the hospitality sector, for example, a US$44.8-million hotel and health care complex HJC and a five-star hotel by Muong Thanh Group worth US$27 million.
The rise in investment was largely owing to the province’s efforts to improve the local business climate and investment policies. It has also worked hard in land clearance and infrastructure development as well as in providing support for investors.
In the following years, the locality aims to attract more strategic investors with more focus placed on potential investors from Singapore, Thailand, Taiwan and European countries.