Gia Lai Accelerating Investment Attraction

4:59:54 PM | 25/9/2013

Blessed with a favourable geographical location, coupled with strong determination in investment attraction, Gia Lai province has drawn many investment projects, providing driving force for social and economic development acceleration. Vietnam Business Forum interviewed Mr Tran The Vinh, Director of the Department of Planning and Investment of Gia Lai province, on local investment attraction. Quoc Hung reports.
Could you briefly tell us about investment attraction work in Gia Lai province?
Since Gia Lai is a poor province, development investment and development investment attraction policies play extremely important roles in maintaining rapid and sustainable economic growth, industrialising and modernising the economy, and narrowing the socioeconomic gap with the national average. In the past years, growth has been boosted by the province’s focus on tapping all available resources for socioeconomic development, promoting internal resources and utilising external resources for development investment like technical infrastructure construction, hydropower plant construction and operation, and farming expansion.
Since the Law on Investment took effect in 2005, Gia Lai province has licensed 202 investment projects with total registered capital of VND30,516 billion (US$1.5 billion). They are mainly engaged in hydroelectric power, building construction material processing, rubber planting and real estate.
Compared with other localities, especially in the Central Highlands, what are the current strengths of Gia Lai province?
Gia Lai is the second largest province in the country with a natural area of 15,536.7 square kilometres. It also has the largest area for long-day and short-day industrial crop development. To date, the province has 10,000 ha of rubber and 8,400 ha of pepper. It leads the country in black pepper output.
Gia Lai is also located at the heart of Cambodia - Laos - Vietnam Development Triangle and on the East-West Corridor in Greater Mekong Sub-region. The province also has Le Thanh International Border Gate, which links the province with southern Laos and northeast Thailand. These are good conditions for other provinces and cities to boost development cooperation and promote its inherent advantages to increase production capacity, develop socioeconomic infrastructure, enhance economic competitiveness, create breakthrough steps for economic development, and make Gia Lai an economic engine of the region.
Provinces and cities are now strongly competing with each other to draw investors. What solutions does Gia Lai province adopt to raise its competitiveness and investment attraction?
To attract investors, Gia Lai province pays special attention to administrative reform, one-stop source mechanism, and facilitates business establishment and operation. The province also speeds up investment promotion and provides a favourable environment for investors, especially those operating in important, labour-intensive industries, and in poor localities.
Each year, based on locality-specific and industry-specific planning, the province has listed investment projects in need of investment capital and supported investors to study and select investment opportunities.
Japan is the largest investor in Vietnam. Japanese investors are expected to see Vietnam as an attractive destination in the future. With its advantages, how has Gia Lai attracted investment capital from Japan?
In the context of deepening regional and international integration, Gia Lai province is constantly developing to become a land of opportunities and potential. The province wishes to see more foreign businesses with sufficient financial capacity, experience, governance and products of high technological content. And, we believe that most businesses can meet our requirements. Especially, in the latest 10 years, more than 50 percent of the 70 ODA projects in Gia Lai province have been financed the Japanese Government. For that reason, many Japanese organisations and individuals know Gia Lai. This is also a good base for us to draw more investors from Japan in the coming time.