Thai Binh strives to become major destination for foreign investment

October 11, 2021 | 16:31
The northern province of Thai Binh has paid heed to improving its investment and business climate as it has defined foreign direct investment (FDI) as an important solution to promote socio-economic development.
Thai Binh has paid heed to improving its investment and business climate (Illustrative photo: thaibinh.gov.vn)
Thai Binh has paid heed to improving its investment and business climate (Illustrative photo: thaibinh.gov.vn)

Hanoi – The northern province of Thai Binh has paid heed to improving its investment and business climate as it has defined foreign direct investment (FDI) as an important solution to promote socio-economic development.

It is worthy of note that the province has proactively carried out a resolution adopted by the Politburo in August 2019 on completing institutions and policies to increase quality and efficiency of foreign investment to 2030, thereby turning Thai Binh into an attractive foreign investment destination.

The province currently has 97 FDI projects with registered capital nearing 1.31 billion USD.

As most of them are small scale projects, local authorities have asked departments, sectors and localities to create the best conditions in terms of procedures for investors, and select projects based on their quality, effectiveness, technology and environmental friendliness, with priority given to those with advanced technology.

Despite the negative impacts of COVID-19, the province drew about 600 million USD of registered capital in five FDI projects from the start of this year.

General Director of Lotes Vietnam Kung Yung Sheng spoke highly of the province’s convenient geographical location, abundant labour supply and infrastructure at industrial parks.

In the coming time, Thai Binh will mobilise resources to better its infrastructure and implement plans and programmes in investment promotions.

The province will continue to study and devise incentives to attract more strategic investors and projects with modern technologies, along with addressing bottlenecks for stable operations of businesses.

VNA

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