PM urges Hoa Binh to improve investment environment

Prime Minister (PM) Nguyen Xuan Phuc has urged the northern province of Hoa Binh to further improve its investment environment in order to attract investors.

Addressing a local investment promotion conference on November 19, the PM said Hoa Binh enjoys many comparative advantages, such as its location at the gateway to the capital city and part of the Hanoi capital region master plan, beautiful natural landscape, rich culture and potential in construction materials, mining, hi-quality agro-fishery processing, resort and eco-tourism.

Prime Minister Nguyen Xuan Phuc (R) addressing the conference

However, most investment projects in the locality are of small scale, he said, calling on investors to explore opportunities in Hoa Binh, particularly in the tourism sector.

Hoa Binh officials affirmed their resolve to build an open and transparent business and environment, and expressed the wish to attract investment in infrastructure, hi-tech industry and agriculture, support industry, health care, education, tourism and trade.

In the first 10 months of this year, the province licensed 39 projects, including one foreign-invested project worth USD 3 million and 38 domestic ones capitalizing at nearly VND 4.6 trillion (USD 208.5 million).

During a working session with local authorities earlier the same day, PM Phuc recommended that Hoa Binh pays attention to organic agriculture and tourism, considering the province’s natural advantages.

As the rate of local poor households remains high, up to 24 percent, he requested speeding up poverty reduction, fight the trafficking of drugs, and prevent wastefulness in the use of State assets and budget.

The leader also called for pooling public resources into infrastructure so as to ease pressure on the State budget.

Local authorities proposed the Ministry of National Defense consider the launch of a hydroplane service from Noi Bai international airport to Hoa Binh lake, which is expected to give a boost to local tourism.

The same day, the PM attended the great national unity festival in Dan Chu commune, Hoa Binh city.