The local authorities have determined that
cooperation and investment attraction play an important role in creating
momentum for economic development. Therefore, they have been striving to
introduce the province's potential and strengths to investors, towards
attracting more investment in the locality, especially in prioritized projects.
Investment promotion programmes, plans for trade
promotion, and solutions to improve business and investment environment and
competitiveness of the locality have been implemented annually.
Hoa Binh is now home to 642 investment projects,
including 39 foreign-invested projects worth 620 million USD, and 585 domestic
ones totaling nearly 119.5 trillion VND.
Foreign investment projects are mainly in
industrial production; and service, trade and tourism, accounting for about 78
percent and 19.5 percent of the total number of projects, respectively.
As many as 102 investment projects have been so
far licensed to operate in local industrial parks, including 27 foreign direct
investment projects with total registered capital of 527.35 million USD, and 75
domestic investment projects worth over 11 trillion VND.
The locality has also worked hard to lure
official development assistance (ODA) capital. In the 2010 - 2020 period, 24
programmes and projects using ODA capital, with a total investment of 6.46
trillion VND, focusing on the fields of transport, urban and rural
infrastructure development, health care, education, irrigation, and poverty
reduction, were implemented in Hoa Binh.
Regarding foreign non-governmental aid, the
province implemented 227 programmes and projects, and disbursed 21 non-project
grants with a total committed value of 51.7 million USD in the period 2010 -
2020. The locality received an average 2.8 million USD each year.
Investment projects have significantly
contributed to the locality’s socio-economic development, helping create more
jobs for labourers and increase revenues for the State budget.
With its policy of promoting selective
cooperation and investment attraction, the local authorities have resolutely
refused projects using outdated technologies and those showing signs of
commercial fraud.
The local authorities have created the best
possible conditions for investors, and focused on improving its business and
investment environment and the provincial competitiveness index, enhancing
investment promotion activities, and accelerating administrative reform in
order to remove difficulties facing enterprises and investors operating in the
locality.
Attention has been also paid to synchronously
developing technical infrastructure and improving the quality of human
resources to meet the demand of foreign investors.
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