With encouragement, preferential treatment and favourable investment environment, Quang Binh province is an increasingly attractive destination for local and foreign investors. In addition, the province is rich in human resources, with a trained workforce meeting the demand of big projects. For further information on the province’s socio-economic development and improved investment environment, Vietnam Business Forum interviewed Mr Nguyen Huu Hoai, Chairman of Quang Binh People’s Committee. Ngo San reports.
How do you evaluate Quang Binh socio-economic development in recent years?
Quang Binh lies in North Central Vietnam, with long and beautiful coastline and picturesque landscapes such as Ngang Pass, Ly Hoa Pass, Nhat Le River mouth, and in particular, Phong Nha – Ke Bang world natural heritage. The main transport axis of the province are the North-South railways, National Highway 1A, Ho Chi Minh Highway, Highway 12A linking with Laos and Thailand, Cha Lo international border gate, Hon La seaport, Dong Hoi airport, and the river network leading to the East Sea. Quang Binh is also rich in mineral resources, with billions of tonnes of limestone, 30 million cubic metres of quartz, 36 million tons of kaolin and 622,000 hectares of forest.
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In 2006-2010, Quang Binh recorded important achievements: average economic growth of 10.7 percent per annum; economic structure transformed in favour of industry and service (industry 35.7 percent, service 40.6 percent and agriculture down to 21.7 percent); and GDP per capita was US$752 (current rate). Together with economic development, infrastructure has been upgraded improving culture, social welfare, poverty reduction and employment.
However, several constraints remain, such as the small economic size, slow and ineffective economic restructuring, poor planning, and human resources failing to meet the demand.
To overcome those weaknesses, Resolution of Quang Binh XI Party Congress for 2010-2015 decided: “To maximize the mobilization and usage of all resources to accelerate socio-economic development in line with industrialization, modernization and protection of bio-sphere.” Subsequently, the province set the objectives of economic growth of 12-13 percent/year, budget revenue of VND2,500 billion by 2015, per capita income of VND28-30 million a year, 30,000-32,000 jobs generated each year, and household poverty rate down 3.5-4 percent a year.
What are the solutions to achieve those objectives?
Quang Binh will continue economic restructuring and improve economic growth; focusing on efficient development of industrial zones, commercial centres and services relating to industrial zones, tourist centres, urban and rural areas, and border gate economic zones, cultural and historic sites. The People’s Committee has four key socio-economic development programmes namely: comprehensive and modern development of infrastructure, development of agriculture and rural services, development of industry, and development of human resources. Besides, tourism will become a spearhead economic sector.
In the first place, the province will remove hurdles for businesses and people to expand production and business activities, accelerate the implementation and operation of key projects, mobilize and efficiently use the resources for socio-economic development, effectively control monetary policy to ensure capital flow to key projects, and reduce investment in projects with slow implementation.
What specific measures will be taken to improve the business and investment environment to attract more investments?
One, socio-economic structure will be developed and upgraded, especially those in industrial zones and centres.
Two, administrative reform will be accelerated to shorten the time for investment formalities; managers and staff members will be upgraded for better performance.
Three, the province will improve socio-economic development planning, sector planning and construction planning.
Four, land clearance will be accelerated to ensure the schedule.
Five, the province will apply favourable policies to ensure project approval with the shortest delay and without intermediary.
Quang Binh is committed to ensuring favourable conditions for investors with maximum privileges and encourages investments in building materials industry, energy, agriculture-forestry-aquatic products processing industry, tourism, export processing industry, aquaculture, handicraft and maritime transport.
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