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Binh Dinh Province, part of the central key economic zone, is seeking to develop its potential to attract investors, its leader said. Vu Hoang Ha, chairman of the province People's Committee, said the focus is on developing infrastructure.

A Government zoning plan for the period until 2020 seeks to make Binh Dinh an industrial, trade, tourism, services, and human resources training hub for the south-central region and Tay Nguyen (Central Highlands) regions.

The province offers incentives to investors including assistance to promote their brand names and distribution, Ha said.

"The People's Committee is reforming the administration and adopting a 'single door' policy for registering businesses," he said. "The move aims to create a favourable and transparent investment environment."

The province has drawn up a list of projects in which it is seeking investments in sectors like agriculture, fisheries, industry, tourism, and construction, he said.

The province's Investment Promotion Centre said with the authorities' efforts to attract investment and Binh Dinh's geographical advantages, there has been a recent growth in investment.

The province had attracted only three foreign direct investment projects involving US$20 million between 1992-2000. But since 2001 it has attracted a further 28 foreign invested projects worth $352 million.

Most of the investors are from the US, Japan, South Korea, China, Germany, and Singapore. The province has two operating industrial parks, Phu Tai and Long Vy, and the Nhon Hoi Economic Zone.

Phu Tai and Long Vy industrial parks, which have land occupancy rates of 88 percent, house companies that have invested a total of VND1.99 trillion (US$120 million).

Nhon Hoi Economic Zone, established in 2004 and measuring 12,000 ha, has a 545ha free trade zone, zones for industrial, maritime, trade, and tourism services, and urban residential areas.

By last June the People's Committee had issued licenses to 18 domestic and foreign projects with an investment of $724 million in the zone.

Binh Dinh Province also has 19 industrial clusters with a total area of 445ha, with 11 of them having occupancy rates of 90-100 percent.

Ha said the province would soon begin construction of the 272ha Nhon Hoa and 265ha Hoa Hoi industrial parks. It is also planning to build two more industrial parks, Cat Khanh and Cat Linh, he said.

The province's Quy Nhon deep-sea port handles nearly 4 million tonnes of cargo a year, the third highest in the country. The province's main export commodities are wooden furniture, agricultural and forestry produce, minerals and seafood.

Source: Vietnam News

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