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Located in the central region, far from the country's key economic centres, Binh Dinh Province is working hard to improve its investment climate. Nguyen Van Thien, chairman of the province discusses the province's plans with VIR's Hoang Thuy.

In recent years, Binh Dinh has gained a lot of recognition in developing the local economy and attracting attention from domestic and foreign investors. Could you highlight the main factors which resulted in these achievements?

Yes, we have actually gained some achievements in developing the socio-economy and attracting attention from many investors in recent years. Last year, despite the impact of the global financial crisis and Vietnam's economic slowdown, the local economy still grew at about 11 per cent against the previous year. The value of industrial production increased 18.1 per cent and the number of tourists increased 28 per cent.

The main factor here is that we have focused on pushing the improvement of transport infrastructure and urban infrastructure in the province. We focused on developing infrastructure at Nhon Hoi economic zone and a series of industrial parks like Phu Tai and Long My. The provincial policy of economic development has attracted the attention of domestic and foreign investors to Binh Dinh. In recent years, many industrial factories have been built within the province. Another factor is that we have incessantly implemented administrative procedure reforms, aiming to create a better investment climate and bring convenience for enterprises operating in the province.

You have just mentioned the role of infrastructure development in the province. Could you expand on how the infrastructure system has been improved?

Binh Dinh is a central province, far from the country's key economic centres such as Hanoi and Ho Chi Minh City. Thus, the infrastructure system was very poor several years ago. We all know that if the infrastructure system is underdeveloped, we cannot boost the economy and attract more investors. So we took the initiative to invest in a lot of infrastructure such as transport, drainage, water supply and telecom projects. We also encouraged the boosting of the development of financial health and tourism services. Last year, the province asked the government to upgrade Phu Cat airport and arrange a high-quality train from Ho Chi Minh City to Binh Dinh in order to meet the rising travel demands of investors and tourists. Furthermore, the Thi Nai bridge, the longest cross-sea bridge in Vietnam, was opened to link Quy Nhon city with Nhon Hoi economic zone.

In the next few years, what actions will be implemented to further develop the economy and enhance its attractiveness to investors?

In the near future, developing industry and tourist sectors will be the priority in the province. We will continue to implement incentives and encourage policies to create a favourable climate for business operations and production. We pledge to settle all difficulties faced by the investors and enterprises operating in the province.

One of the most important things that needs to be done now is pushing forward the construction process of infrastructure projects at Nhon Hoi economic zone, especially Nhon Hoa and Hoa Hoi industrial parks within the economic zone.

At present, when the country's economic slow-down and the global financial crisis is seriously impacting enterprises, implementing investment and consumption stimulus measures of the government becomes an urgent duty. Many specific measures for boosting trade, tourism and industrial production will be applied to ensure the stability of the province's economy.

However, we still need support from the government to implement those measures. For example, we need the financial support of the government to develop an infrastructure system at Nhon Hoi economic zone. In the next months, we will propose to upgrade Quy Nhon seaport and a highway linking Binh Dinh with Danang and Nha Trang. Those infrastructure projects will notably contribute to improve investment climate in the province.

Source: Vietnam Investment Review