New Bridge Linking Khanh Hoa with Investors

The Khanh Hoa Investment Promotion and Business Support Centre and the Khanh Hoa Tourism Promotion Information Centre recently organised a ceremony to introduce a liaison office in Ho Chi Minh City. On this occasion, Vietnam Business Forum interviewed Mr Kieu Lam, Deputy Director of the Khanh Hoa Investment Promotion and Business Support Centre, on the potentials and advantages of Khanh Hoa province in attracting investment as well as the roles of the Liaison Office in Ho Chi Minh City in promoting and introducing Khanh Hoa’s image to domestic and international investors. My Chau reports.

Khanh Hoa has a relatively favourable geographic and economic location. It lies on national traffic arteries of railways, roads, waterways and airways. Situated near international maritime routes and having large ports, it is a gateway to the sea for the Southern Central Region and the Central Highlands. It has direct flight routes to major economic centres of the country such as Hanoi, Ho Chi Minh City and Da Nang and has direct flight connections with other countries in the region and the world. These favourable conditions enable Khanh Hoa to expand economic exchange with other localities in the country and with the rest of the world.

 

Khanh Hoa is the only province to have three world-renowned picturesque bays, namely Nha Trang, Van Phong and Cam Ranh. The bays have ideal depth to become major ports. It has an abundant seafood resource for general marine economic development. The coastal area has many beautiful harbours, beaches, landscapes and seascapes (especially, Nha Trang Bay is ranked as one of the most beautiful bays in the world). Its temperate climate and hospitable and friendly people enable Khanh Hoa to develop marine tourism into a spearhead economic sector and become a major national and international tourism centre.

 

Khanh Hoa coast has many wide and deep canals, lagoons and bays to form large port systems like Cam Ranh Port, Van Phong Port and Nha Trang Port. Especially, Van Phong international transhipment terminal is endowed with ideal conditions to become a major port on par with big regional and international ports. Khanh Hoa has vast fishing grounds where a variety of marine creatures are living. Notably, (swiftlet) bird nest is typical of Khanh Hoa. It has been exported to many parts of the world.

 

In addition, Khanh Hoa is one of the 10 fast-growing provinces in the country. It pays a significant sum to the State Budget. Many socioeconomic indicators meet and far exceed regional and national averages. It has big seaports, international airports, completed transportation systems, power grids, telecommunication systems, irrigation networks and social infrastructures. Nha Trang City is a tourist hub of the country and has recently been upgraded to the first-grade urban zone. These are the basic premises for Khanh Hoa to thrive in the coming period. The province has a relatively high educational level, and an abundant labour force, with a high ratio of trained workers in relation to regional provinces. The contingent of scientists, technicians, and government officials have quick access to market mechanisms and grasp development trends. These factors create important internal forces for Khanh Hoa to motivate social and economic development.

 

With its strengths and potentials, Khanh Hoa has created new opportunities, open policies, and a dynamic environment for domestic and foreign investors to do business and forge cooperation development for mutual benefit.

 

In the future, Khanh Hoa will focus on promoting tourism development and deep-invested service and improving growth quality. It will build Nha Trang City into a national and international tourism centre and a city of international events. It will concentrate on developing Van Phong economic zone and centralised industrial zones to create a driving force for socioeconomic development.

 

It will give priority to developing highly competitive industries and high levels of knowledge, brainpower and technology; manufacturing highly-refined products and exports; and gradually expanding market shares in international markets. It will attract more investment capital to develop industries relying on local resources, and particularly develop high-tech industries. It will step up the development of general sea-borne economy, with first priority given to maritime economy, sea-island tourism economy and fisheries economy. By 2020, Khanh Hoa province will have a strong sea-borne economy, accounting for 55 - 60 percent of local GDP, and 65 - 70 percent of export turnover.

 

To date, the province of Khanh Hoa has formed three key economic zones, including Nha Trang City (central region and vicinity), Van Phong Economic Zone (north wing), and Cam Ranh peninsula (south wing). The central region of Nha Trang City with its vicinity is a driving economic zone of the province, with the Nha Trang City being a first-grade urban zone, the provincial capital and a national tourist centre. This region is oriented for tourism, high-grade services, high-tech industry, education, culture and social development investment. At present, this economic region has a lot of major tourism zones, service centres, hotels, and high-end supermarkets of national and international standard. Many international events have been held successfully in Nha Trang City. The Nha Trang sea tourism brand has gradually been confirmed on the world tourist map.

Van Phong Economic Zone was approved by the Prime Minister as an economic centre of Khanh Hoa province, playing a leading role in investment attraction, a driving force in economic development for surrounding regions and the whole nation, and a sea-looking gateway - a connection point of the East - West Economic Corridor cooperation. The economic zone has to date attracted 107 projects, including 24 foreign-invested projects and 83 domestic projects, with a total registered capital of US$11.7 billion and VND50,142 billion. The northern part of Cam Ranh Peninsula has been transformed into a high grade tourism-based economic development powered by airports, business centres, and national and international convention centres. To date, 29 projects have been licensed to do business here.

 

Blessed with an advantageous geographical location and preferential natural conditions, a favourable transportation system, developed services, rich resources and abundant human resources, Van Phong and Cam Ranh Bay areas are attractive investment destinations. Hence, Khanh Hoa aims to build these areas into two major economic zones for the province and the central coastal area. The province always opens its doors to welcome domestic and foreign investors with preferential policies and favourable conditions. We believe that Khanh Hoa will be a safe and developing place for investment.

 

The Liaison Office in Ho Chi Minh City is located on the 8th floor, Saigon Riverside Office Centre, 2A - 4A Ton Duc Thang Street, Ben Nghe Ward, District 1. TTM Communications and Entertainment Co., Ltd is responsible for running it. This is the centre of information for investment and tourism promotion in Khanh Hoa province. It provides information on planning, guidelines, policies, potentials and advantages for investment; introduces investment projects; advises and supports investors. It organises events, conferences and seminars for investment projects in the province. It also holds regular meetings and conferences for the Centre’s representatives, investors and specialists to introduce investment projects in Khanh Hoa province and major economic topics of the province concerning health, education, culture and tourism.

 

This centre will be an effective communication channel to bring the image of Khanh Hoa to investors in Vietnam and the world. It will be a bridge between Khanh Hoa province and domestic and foreign investors.