Illustrative image (Photo: VNA)

Quang Ninh (VNA) – The northern province of Quang Ninh completed procedures for licensing and granted the investment registration certificate for a cattle farming project within only three hours on March 5.

The project of the Phu Lam Co. Ltd has a total investment capital of nearly 2.26 trillion VND (101.3 million USD).

It will use more than 1,000 hectares of land in Quang Nghia commune of the border city of Mong Cai, which is a particularly disadvantaged area, to raise beef and breeding cattle.

When operational, the project using high technologies is expected to help to boost local economic development and provide jobs for local residents.

Quang Ninh authorities have pledged to create favourable conditions for investors in the local agricultural sector.

In mid-December 2015, the province issued several incentives to stimulate agricultural development, including interest subsidy for new and expanded investment projects in the field.

Earlier, it introduced an investment invitation list, comprising of 12 projects with total investment capital amounting to hundreds of billions of VND.-VNA