Monday, 20 Nov 2017

11.3 billion USD project for Kien Giang Province's development

Updated at Wednesday, 14 Jun 2017, 14:59
The Hanoitimes - The southern province of Kien Giang has been invested 11.3 billion USD for socio-economic development by 2020.

Ba Hon Islet in Kien Giang Province
Ba Hon Islet in Kien Giang Province

Of this, as per plan, 68 percent will come from the private sector, 13 percent from the State budget, 6 percent from foreign direct investment and the remaining 13 percent from other sources.

To meet this target, the province has drawn up measures to improve its investment environment and accelerate investment, which includes establishing one-stop shop administrative procedures for granting investment licence and improving connectivity with other provinces and cities.

Kien Giang will review, supplement, adjust and improve the quality of its planning activities and its plans – both master plans and plans for specific sectors such as tourism, agriculture, aquaculture, industry; it will create favourable conditions for enterprises to upgrade technologies and access markets and credits; and train labour.

Mai Van Huynh, vice-chairman of the provincial People’s Committee, said Kien Giang would focus on improving its infrastructure, speeding up the construction of the southern coastal road and the Lo Te-Rach Soi stretch of National Highway No 80; consolidating its sea dyke system and irrigation projects; and investing in electricity grid on islands.

Up to now, Kien Giang has attracted 690 domestic projects worth 451.5 trillion VND. Of this, 321 projects have been in operation, accounting for 31 percent of the registered capital. The province has also attracted 41 FDI projects from 19 countries and territories with a total registered capital of 1.44 billion USD, of which 37 percent has been disbursed.
Tuan Minh
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