The southernmost province of Ca Mau is working hard to attract more investment to promote the locality’s economic development.
Since the beginning of this year, the provincial Department of Planning and Investment granted investment certificates to 13 projects with a total capital of 1 trillion VND (50.9 million USD) in the fields of health, sports, education, seafood processing and forestry.
The department also suggested the province set up a new list for investment, especially focusing on infrastructure, to promote sustainable economic development in the locality.
However, Ca Mau meets difficulties in attracting investors. Most domestic projects are small, thus yet to meet the locality’s demands. Meanwhile, from 2010-2012 the province has lured only five foreign direct investment (FDI) projects with a total investment of 9 million USD. The implementation of the projects has been very slow and none of them has become operational so far.
The reasons behind the situation are the geographical distance, the limitation of infrastructure and the global economic crisis. In addition, the provincial authorities have not taken breakthrough policies in attracting internal and external investment.
In order to overcome the difficulties, in the coming time Ca Mau will implem ent a series of measures to improve its business environment, thus attracting more investment into the province, said Mai Huu Chinh, direc t or of the provincial Department of Planning and Investment.
The department plans to have a meeting with domestic and foreign investors next month to introduce projects as well as preferential policies on capital and tax.
Ca Mau is particularly seeking investment in transport infrastructure, agro-fishery and and tourism, especially eco-tourism.-VNA
Since the beginning of this year, the provincial Department of Planning and Investment granted investment certificates to 13 projects with a total capital of 1 trillion VND (50.9 million USD) in the fields of health, sports, education, seafood processing and forestry.
The department also suggested the province set up a new list for investment, especially focusing on infrastructure, to promote sustainable economic development in the locality.
However, Ca Mau meets difficulties in attracting investors. Most domestic projects are small, thus yet to meet the locality’s demands. Meanwhile, from 2010-2012 the province has lured only five foreign direct investment (FDI) projects with a total investment of 9 million USD. The implementation of the projects has been very slow and none of them has become operational so far.
The reasons behind the situation are the geographical distance, the limitation of infrastructure and the global economic crisis. In addition, the provincial authorities have not taken breakthrough policies in attracting internal and external investment.
In order to overcome the difficulties, in the coming time Ca Mau will implem ent a series of measures to improve its business environment, thus attracting more investment into the province, said Mai Huu Chinh, direc t or of the provincial Department of Planning and Investment.
The department plans to have a meeting with domestic and foreign investors next month to introduce projects as well as preferential policies on capital and tax.
Ca Mau is particularly seeking investment in transport infrastructure, agro-fishery and and tourism, especially eco-tourism.-VNA
