DPM Hoang Trung Hai urges Thai Binh province to improve infrastructure

Friday, 2014-10-17 16:18:41
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Deputy PM Hoang Trung Hai speaking at the Thai Binh Investment Promotion Conference
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NDO - Deputy Prime Minister Hoang Trung Hai has called on the authorities of northern Thai Binh province to focus on infrastructure development in order to become more attractive to both domestic and foreign investors.

While attending an investment promotion conference on October 17, Hai said that Thai Binh should upgrade Highway 39B and the road linking the province to the Cau Gie-Ninh Binh Expressway, as well as push through administrative reforms to enhance the province’s competitiveness.

In 2013, Thai Binh province ranked 9th among the most attractive investment destinations in Vietnam, bringing in more than VND102 trillion (US$4.8 billion) from 736 projects and creating jobs for 143,000 workers.

According to the Thai Binh authorities, the province is rich in natural resources with coal reserves estimated at 210 billion tonnes. It also has abundant stocks of mineral water and natural gas.

Thai Binh’s other advantages include vast rice fields, with annual output of more than one million tonnes, and a coastline suitable for the development of eco-tourism and resorts.

In 2013, Thai Binh’s total economic output was estimated at VND37.2 trillion (US$1.75 billion), up 8.8% from the previous year.

The province is now home to more than 700 projects with investment totalling over VND75.8 trillion (US$3.56 billion). Major projects include the Thai Binh Power Centre with a capacity of 1,800 megawatts and an ammonium nitrate factory with annual capacity of 200.000 tonnes.

The Thai Binh Investment Promotion Conference 2014 is a forum for investors to exchange information and explore investment opportunities in untapped areas in Thai Binh province.

During the conference, the provincial authorities granted investment licences for a number of projects worth more than VND28 trillion (US$1.32 billion).