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Vinh Phuc works to become industrial, service hub of the north

access_time Dec 28,2016 chat_bubble_outline 64 views
Vinh Phuc works to become industrial, service hub of the north

Vinh Phuc should strive for 15,000 enterprises by 2020, doubling the current figure, the PM stressed during the province’s investment promotion conference on December 27.


He urged the locality to invest more in tourism and services as the way to maintain a good living environment for locals.


The Government leader suggested that Vinh Phuc focus on designing good planning and strategies with special attention given to environmental protection, thus becoming a “province that is worth living in”.


He lauded the speedy development of Vinh Phuc, as well as its high budget collection that amounted to 31 trillion VND in 2016, second only to Hanoi. Vinh Phuc is among the top four localities nationwide in terms of the investment environment, a far cry from its 43rd position in 2012, he noted.


He attributed it to the province’s sound settlement of infrastructure, human resource and constitutional issues, which are the three obstacles hindering economic growth in Vietnam.


He also asked Vinh Phuc to continue its comprehensive reform to win investors’ confidence and attract high quality human resources.


Vinh Phuc has risen from an agriculture-based locality to a huge industrial production, automobile and motorbike manufacturing centre of the northern region and the whole country, with a modern technical infrastructure system.


Average economic growth of the province reached 17.24 percent annually, while budget collection rose to VND24 trillion in 2015 from only VND100 billion in 1997.


Vinh Phuc has paid much attention to improving the investment and business environment, with specific measures to support enterprises. Along with an online portal facilitating communication between enterprises and the administration, the province has maintained a hotline to receive feedback from the business community, while strengthening administrative reform.


So far, the province has attracted 856 investment projects, including 227 FDI projects, worth US$3.4 billion, and 629 domestic-funded ones with a total capital of VND99.2 trillion.


Vinh Phuc has prioritised assisting businesses in labour supply and waste treatment.


With many beautiful natural landscapes, including Tam Dao National Park, Ban Long waterfall and Dai Lai lake, Vinh Phuc also boasts great potential for tourism development.


The province is on track to basically complete its urban infrastructure framework in 2020 to become an industrial and service hub of the region and the country.


During the conference, investors and economists highly praised the future growth potential of Vinh Phuc, while lauding the local government’s efforts in administrative reform and supports in various fields.

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