Central Highlands attracts further US$ 768 million in FDI

Central Highlands Steering Committee in collaboration with the State Bank of Vietnam and the People’s Committee of Lam Dong province yesterday organized the third conference on investment promotion in Da Lat city.

Central Highland provinces sign an investment agreement. (Photo:SGGP)

Politburo member, Minister of Public Security and Head of Central Highlands Steering Committee General Tran Dai Quang chaired the conference.

Central Highlands has a special important strategic position in economic and social development, defense and security, and ecological environment.

The region has many potentialities in mine ores industry, hydroelectric power, tourist and industrial tree planting such as coffee, rubber, green tea, pepper and others.

Thanks to the attention of the Party and Government, provinces of Central Highlands have attracted additional investment projects. In the period of 2011- 2015, the region has attracted official development assistance (ODA) source to invest in agricultural and rural development, reducing poverty, transport, silviculture, education and training.

Central Highlands provinces have attracted 38 foreign direct investment (FDI) projects with total registered capital of US$ 122 million for five years.

At the conference, Central Highlands provinces granted investment licenses to 13 further projects with over VND 16, 6 trillion  (US$ 768 million). Kon Tum province attracted the biggest investment capital of VND 7, 7 trillion .

On the occasion, the provinces also signed an investment agreement to cooperate between eight commercial banks including Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank), Vietcombank (VCB), Vietinbank, Agribank, Bank for Investment and Development of Vietnam (BIDV), Hanoi Commercial Joint Stock Bank (SHB), Vietnam's Military Bank (MB) and Sacombank with 17 enterprises.

The eight banks pledged to lend VND 15 trillion to invest in hydroelectric power, transports, agriculture and cattle- breeding production.

By Nam Vien- Translated by Huyen Huong

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