Kien Giang plans $11.3b for development

The southern province of Kien Giang aims to mobilise VND255 trillion (US$11.3 billion) for socio-economic development by 2020.

The southern province of Kien Giang aims to mobilise VND255 trillion (US$11.3 billion) for socio-economic development by 2020.- Photo nongnghiep.vn

Of this, as per plan, 68 per cent will come from the private sector, 13 per cent from the State budget, 6 per cent from foreign direct investment and the remaining 13 per cent from other sources.

To meet this target, the province has drawn up measures to improve its investment environment and accelerate investment, which includes establishing one-stop shop administrative procedures for granting investment licence and improving connectivity with other provinces and cities.

Kien Giang will review, supplement, adjust and improve the quality of its planning activities and its plans – both master plans and plans for specific sectors such as tourism, agriculture, aquaculture, industry; it will create favourable conditions for enterprises to upgrade technologies and access markets and credits; and train labour.

Mai Van Huynh, vice-chairman of the provincial People’s Committee, said Kien Giang would focus on improving its infrastructure, speeding up the construction of the southern coastal road and the Lo Te-Rach Soi stretch of National Highway No 80; consolidating its sea dyke system and irrigation projects; and investing in electricity grid on islands.

Up to now, Kien Giang has attracted 690 domestic projects worth VND451.5 trillion. Of this, 321 projects have been in operation, accounting for 31 per cent of the registered capital. The province has also attracted 41 foreign-invested projects from 19 countries and territories with a total registered capital of $1.44 billion, of which 37 per cent has been disbursed.

Source VNS