The northern port city of Hai Phong will no longer accept investments forprojects with capital of less than 1 million USD, or with technologiesmanufactured before 2000, according to a newly-issued decision by the Hai PhongPeople's Committee.
Under Decision 221/QD-UBND, selected industrialprojects will also be required to have an annual industrial production value ofat least 45 billion VND (2.4 million USD) and the ability to contribute at least2 billion VND (105,300 USD) per year to the city's budget.
Projects thatwill be selected to invest into the city during the 2010-15 period will alsohave to meet the city's approved industrial development strategies, and usemodern and environmentally friendly technologies and equipment.
Asidefrom the industries and projects that have been prohibited, which are allregulated by the Government, the committee has also decided not to licenseproduction projects for cement, pig-iron, steel, fertiliser, scented candles orauto manufacturing.
The city also outlined clean industries, hi-techsectors, export processing and services as the most encouraging investmentareas.
With the city's advantageous geographical location and asynchronised transport system, thanks to the development of the city's roads,rails, rivers, skies and sea ways, the northern port city was expected toattract 300 million USD in foreign investments this year, said Vu Xuan Minh,head of the city's Department of Planning and Investment's investment promotiondivision.
"This goal is totally within our reach, as two importantinfrastructure projects, the Hanoi-Hai Phong Highway , which is already underconstruction, and the Hai Phong International Seaport will be under constructionthis year and will help attract the attention of more foreign investors," Minhsaid.
In addition to perfecting infrastructure in the city's existingindustrial zones and complexes, the city will also invest in an industrialcomplex with complete infrastructure this year, covering a total area of 200ha,Minh said.
Hai Phong currently has five industrial production zones inoperation and two others for which land is being cleared.
According tothe city's Department of Industry and Trade, the city in the first two months ofthe year churned out an industrial production value of 6.4 trillion VND (336.8million USD), which was an increase of 14.8 percent over the same period lastyear.
Twenty-one industries saw growth in industrial value, includingmetal production at 34.8 percent, chemical products at 46.2 percent, rubber andplastic products at 30 percent and motor and auto products at 25.7 percent./.
Under Decision 221/QD-UBND, selected industrialprojects will also be required to have an annual industrial production value ofat least 45 billion VND (2.4 million USD) and the ability to contribute at least2 billion VND (105,300 USD) per year to the city's budget.
Projects thatwill be selected to invest into the city during the 2010-15 period will alsohave to meet the city's approved industrial development strategies, and usemodern and environmentally friendly technologies and equipment.
Asidefrom the industries and projects that have been prohibited, which are allregulated by the Government, the committee has also decided not to licenseproduction projects for cement, pig-iron, steel, fertiliser, scented candles orauto manufacturing.
The city also outlined clean industries, hi-techsectors, export processing and services as the most encouraging investmentareas.
With the city's advantageous geographical location and asynchronised transport system, thanks to the development of the city's roads,rails, rivers, skies and sea ways, the northern port city was expected toattract 300 million USD in foreign investments this year, said Vu Xuan Minh,head of the city's Department of Planning and Investment's investment promotiondivision.
"This goal is totally within our reach, as two importantinfrastructure projects, the Hanoi-Hai Phong Highway , which is already underconstruction, and the Hai Phong International Seaport will be under constructionthis year and will help attract the attention of more foreign investors," Minhsaid.
In addition to perfecting infrastructure in the city's existingindustrial zones and complexes, the city will also invest in an industrialcomplex with complete infrastructure this year, covering a total area of 200ha,Minh said.
Hai Phong currently has five industrial production zones inoperation and two others for which land is being cleared.
According tothe city's Department of Industry and Trade, the city in the first two months ofthe year churned out an industrial production value of 6.4 trillion VND (336.8million USD), which was an increase of 14.8 percent over the same period lastyear.
Twenty-one industries saw growth in industrial value, includingmetal production at 34.8 percent, chemical products at 46.2 percent, rubber andplastic products at 30 percent and motor and auto products at 25.7 percent./.
