Province aims to attract investment

The southern province of Bac Lieu will step up efforts to attract investment and improve competitiveness, according to its Plan on Social and Economic Development.

Provincial People’s Committee chairman Pham Hoang Be said the plan, which covers the period from 2011-15, hoped to attract investment from all over the world.

“We strive to create a convenient legal environment for both domestic and foreign investors,” Be said.

Priority would be given to improving the infrastructure of key industrial zones, preparing sufficient “clean” land for investors and publicising the land-rent policy to ensure transparency.

Improving land use and planning for construction projects would help businesses find the most suitable areas for their needs and financial situation, he said.

In recent years, the province had paid increasing attention to administrative procedure reforms and activities to promote investment, said deputy director of the provincial Investment, Trade and Tourism Promotion Centre Nguyen Chi Linh.

The centre had organised frequent meetings between provincial leaders and investors to solve problems, a tactic which had seen the province become a lucrative destination for many investors, Linh said.

Bac Lieu had jumped 29 positions in the Provincial Competitiveness Index – from 59 of 63 provinces and cities in 2009 to number 30 last year, Linh said, adding that it had benefited from creative leadership and uncomplicated access to land.

In spite of the difficult economic situation, the province attracted 26 projects in the first half of the year, worth a combined total of US$247 million. — VNS

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment