Coastal Ninh Thuan forms economic development office

Ninh Thuan has set up an Economic Development Office in a fresh move to further boost development of the central coastal province, where two nuclear power plants will be built as Vietnam’s first ones in the coming years.

The Economic Development Office, an arm of the province’s Department of Planning and Investment, will serve as a bridge between Vietnamese and foreign investors and local officials.

Untouched Ba Dien Beach in Ninh Hai District, Ninh Thuan Province. Tourism is said to be a potential sector in the coastal province. (Photo: Tuong Vy)

The office will help investors deal with procedures to form businesses or companies in the province, which held an investment promotion conference in October 2009 with the participation of Vietnamese President Nguyen Minh Triet.

The new section will also follow up site clearance and compensation procedures needed for investors. It will issue investment and construction licenses.

Briefly, it is the door for investors to knock at when they come to Ninh Thuan to do business, as the province projects. It will also source official development assistance (ODA) funds and coordinate relevant government agencies and departments over there.

Ninh Thuan has engaged the Monitor Group from America to work out an overall socio-economic development strategy for 2011-2020 and vision till 2030. It has signed up British firm Arup to make an urban development plan for its Phan Rang-Thap Cham City and coastal strip.

The Ninh Thuan Investment Conference was organized last October by the provincial government, Vietnam’s Ministry of Planning and Investment, and the Japan External Trade Organization.

At the conference, 54 projects considered to be highly potential in the province in the fields of industry, clean energy, tourism, mining, and aquaculture were introduced to investors.

During the forum, five projects worth nearly VND3.1 trillion were licensed into the poverty-stricken province, while six other deals were sealed with combined pledged capital of over VND20 trillion. The signings were witnessed by President Nguyen Minh Triet, who joined the conference to help in attracting investment.

By Tuong Vy

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