Ninh Thuan Province Tapping Resources for Further Development

3:30:20 PM | 6/7/2007

Vietnam Business Forum interviewed Mr. Nguyen Thoai, Ninh Thuan Planning and Investment Department, on measures to attract investment.
Could you tell us about investment in the province in recent years?
Since 2006, investment has become more efficient due to implementation of the Investment Law, Enterprise Law and “one-stop shop” in administrative reform. There are 55 investment projects with registered capital of VND4,000 billion, including 37 projects granted licenses or approved by the People’s Committee of the province and seven FDI projects capitalized at VND2,000 billion, focusing on the advantages of the province namely sea tourism, shrimp breeding, granite processing, salt production and wind power.
In particular, more projects of powerful investors have been accelerated. While others are soon to be approved by the province, such as the infrastructure of Du Long industrial zone (IZ) by Hoa Cheng group (China), Phuoc Nam IZ by Trung Quy company. Also in 2006, many local and foreign investors have registered wind power projects of US$100-150 million each, including projects from Switzerland, Canada, Vietnam Energy Recycle and Song Giang joint stock companies.
To attain an 11-12 per cent growth rate in 2007, the province has mobilized resources from all economic sectors in the range of VND1,000-1,500 billion. It requires greater efforts in 2007 to promote investments to achieve the target in projects and investment capital, up 1.5 times from 2006.
In the first quarter of 2007, nearly 20 projects have been registered with a total capital of VND2,100 billion, including 5 FDI projects valued at VND1,700 billion. It is expected that 6-7 projects worth US$100-200 million will be invested in 2007. I believe this will generate a new flow of investments in the province in coming years.
What are the advantages for investors in the province?
Ninh Thuan is a coastal province in Central Vietnam, lying on Highway 1A and North-South railway, connecting with Da Lat, the Central Highlands, Phan Rang – Thap Cham city by Highway 27, 45 km from Cam Ranh airport and 30 km from Ba Ngoi sea port.
With the beauty of wilderness, pure air and healthy environment, the province can develop special tourist centres such as sea-tourism (Ninh Chu and Binh Tien beaches, Vinh Hy Gulf, Nui Chua national park) cultural-historic tourism (Cham towers : Poklong Giarai, Hoa Lai, Prome) and Cham culture.
Due to the dry land, the province can develop salt production, construction stone, aqua-culture, sheep and goat husbandry, planting cotton, grape, cashew nut, tobacco and related processing industries.
The expansion of Phan Rang – Thap Cham city to the East and North-West, and the urbanization of Phuoc Dan (Ninh Phuoc) and Khanh Hai (Ninh Hai) have created major land resources to meet the demand of investors.
How does administrative reform in 2007 help investors in getting licenses and implementing projects?
The province considers 2007 a turning point in administrative reform to simplify formalities and facilitate investors. Together with the “one-stop shop” policy applied in early 2007, the Planning and Investment Department has combined the granting of license, tax number and stamp for businesses.
The Department has recommended the People’s Committee combine all investment formalities, from introducing sites, granting related permits to construction and land renting, to save time and facilitate investors implementing their projects.
The Department will also prepare a website in the second quarter to promote investment formalities with guidance and forms information to help investors complete formalities in the shortest time possible and receive licenses.
And any preferential treatment to investors?
First of all is our warm welcome. We wish to tell them that we welcome them with all our heart. Ninh Thuan needs them to overcome the difficulties of the province. We will listen to them not only on the projects, but also on overall development of the province. I know there are investors ready to invest in difficult regions, because of the warm heart of the local authorities.
As for preferential treatment, we will offer them the maximum provided by the central government, together with additional offer allowed by the law. Concerning construction sites, when projects are in line with the planning of the province, we will accelerate land compensation and clearance to ensure the earliest clearance for the investors. All formalities will be processed by “one-stop shop”, saving time and problems for investors. We will coordinate with other provinces and cities to provide related information on investments and organize meetings to increase their cooperation. We will do our best to facilitate investors; though we do not have red carpet, we will welcome them will all our heart.