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A two-day conference on investment promotion in the strategic region of Central Viet Nam will kick off in Hoi An City on June 25.

The event organised by the Ministry of Planning and Investment (MPI) in co-ordination with Quang Nam People's Committee will focus on tourism and economic and industrial zones and their infrastructure.

"The region including Da Nang City and the provinces of Thua Thien Hue, Quang Nam, Quang Ngai and Binh Dinh has played a significant role in the socio-economic development of the central and highland regions as well as the whole country," said head of MPI's Foreign Investment Agency Do Dac Hoan.

He added that the Government and ministries as well as localities in the region had worked hard to release its economic potential. Statistics from the department showed that a strong increase in foreign direct investment (FDI) capital since 2007 with a number of billion US dollar projects has started a new investment wave into the region.

By March 2010, there were 377 projects in progress with total registered capital of US$14.4 billion, accounting for 74per cent of the number of projects and 61per cent of the total capital in the Central and Highland regions.

In the past three years alone, the total registered FDI capital reached a record of $11.3 billion.

Many experts forecast that more FDI will enter the region this year, optimistic in the context of the world economic recovery.

Le Tri Thanh, director of Investment Promotion and the Enterprise Assistance Department of Quang Nam People's Committee, said the region has a lot of potential and many advantages such as the deep-water seaport system, a network of airports across the region, world famous cultural sites and industrial and economic zones with preferential investment mechanisms and policies.

The region is also planning to develop some major industries with strong pervasiveness which will be promoted utterly and effectively in order to contribute to the socio-economic development of the region and the country.

"Each locality in the region has its own special advantages and preparations to assist investors who are interested in the region ," he added.

The conference is a key national promotion to help attract new investment and strengthen effective use of domestic and foreign capital sources.

It will be an opportunity for government agencies, organisations, investors, domestic and foreign enterprises to meet, exchange information and seek out co-operation and investment opportunities in the region. It will also be a chance for each locality to introduce key projects and call for investment.

Nearly 500 participants are expected to join in the conference, including Government leaders, ministries, localities, international organisations and enterprises.

Source: VNA

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