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Phu Yen looks to higher growth
Authorities in the central province of Phu Yen are predicting a higher economic growth rate this year, spurred by the processing industry, tourism and aquaculture sectors.
The 5,060sq.km coastal province has rich potential in marine tourism, fishery, aquaculture and petrol production with many beautiful lagoons, gulfs and a 6,900sq.km fishery area.
Lat year, the province's GDP stood at US$654 million.
Le Van Truc, Deputy Chairman of the provincial People's Committee, said the province attracted a total of 30 new projects last year, with a total investment of VND10 trillion ($481 million), including seven projects in its three industrial parks and 23 in other sectors.
Many international companies have eyed the province for investment in petroleum production and tourism, including UK Technostar Management Ltd, Russian Telloil Petroleum Corporation and Swiss Traco Global Engineering Investment Company, according to Truc.
Speaking at a meeting with 100 international and local businesspeople on Saturday, Truc said provincial authorities had simplified administrative procedures and increased the capacity of local agencies.
"We have expended great efforts in appealing to investors and improving our rank in the provincial competition index, as well as the growth rate of the province in general," Truc said.
Since the beginning of the year, the province has awarded licences to 258 projects with a total capital of $10.5 billion, including 35 projects valued at $8.1 billion and funded by international investors.
Nguyen Tri Hien, Director of the Department of Planning and Investment, said the province had implemented policies for land-use planning for industrial development and tourism projects, as well as vocational training programmes to meet the labour demand of investors.
The department has also prepared investment and trade promotion events to attract more investors and deal with obstacles in site clearance and resettlement.
It will also conduct investigations on delayed projects in order to take back land to offer to new investors.
vietnamnews
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