Quang Binh Awakening Potential

 

Quang Binh has much potential to develop a comprehensive and diversified economy, especially the hospitality industry.

 

The province lies on the East-West Economic Development Corridor, serving as a gateway to the East Sea for Central Laos, Northeast Thailand and Myanmar to reach the region and the world.

 

Quang Binh has a well-built traffic infrastructure system with airports, seaports, roads, railways and waterways. Dong Hoi Airport is now a service destination for three carriers, namely Vietnam Airlines, Jetstar Pacific and Vietjet Air. It has a relatively convenient road system, including National Highway 1A, Ho Chi Minh Road and North - South Railway running along the province. This is a good condition to attract tourists to the province where they have the opportunity to see spectacular natural scenery and experience famous landmarks like Vung Chua - Dao Yen (the resting place of legendary General Vo Nguyen Giap), Da Nhay, Nhat Le Beach and Hai Ninh Beach. Especially, the World Natural Heritage, Phong Nha-Ke Bang National Park has nearly 300 caves, in which, Son Doong cave is considered the world's largest and is one of the most beautiful caves. In 2014 Quang Binh received nearly 2.8 million visitors, twice that of 2013. It is forecast that arrivals in 2015 will reach over 3.3 million. Recently, the US-based ABC news broadcast spectacular scenes of Hang En Cave ( Swift Cave) and Son Doong Cave in its Good Morning America programme which attracted and awed tens of millions of viewers around the world.

 

 

At the Conference on Quang Binh Investment and Tourism Promotion 2015, the province will focus on awakening potential and advantages to generate momentum for local socioeconomic development. The province will particularly draw investment capital for the following fields:

 

- On tourism potential exploitation:

The Provincial People's Committee issued Decision 1150/QD-UBND dated May 4, 2015, listing tourism projects calling for investment in the 2015-2020 period. At this conference, the province will introduce and call VND40 trillion of investment capital for about 50 trade and tourism projects, including Hai Ninh Golf Course, Bao Ninh - Hai Ninh Resort, Dong Hoi Amusement Centre, Bang mineral water ecological tourism site; Quang Dong and Quang Trach ecological tourism sites; Phong Nha ecological tourism site; and amusement parks for international tourists in Bao Ninh and Dong Hoi.

 

- On other areas:

With over 632,000 ha of forest land, accounting for 78.5 per cent of natural land area, including more than 310,000 ha of commercial forests and with a forest coverage rate of over 70 per cent, Quang Binh is one of the provinces with the largest forest reserves in Vietnam, estimated to have 32.3 million cubic metres of lumber, of which 14.85 million cubic metres come from commercial forests. During this conference, the province will invite investors to tap local potential and advantages to grow forests and process timbers like medium-density fibreboard (MDF). Besides, it will continue to appeal investment capital for infrastructure projects, new urban areas, industrial zones, hi-tech parks, high-quality agro-forestry and fishery production and processing projects, and investment projects in Hon La Economic Zone and Cha Lo Economic Zone to develop thermal power, shipbuilding, mining, steel, construction material, petrochemical and other supporting industries.

 

Quang Binh is a tempting destination for domestic and international investors. To date, the province has licensed 320 investment projects with a total registered capital of over US$5 billion, including 11 FDI projects. Up to 158 projects have been carried out with a total registered capital of nearly US$4 billion.

 

Quang Binh is rated to have a very good investment environment in Vietnam, where administrative procedures are simply and quickly processed at only one place operated by the Department of Planning and Investment. The Provincial Governance and Public Administration Performance Index (PAPI) stayed at the top of the ranking table for four consecutive years. The province issued Decision 1446/QD-TTg on the Action Plan for the implementation of business investment climate in a bid to minimise the time required for handling administrative procedures from the time investors start investment survey, location recommendation, land lease to investment certification. The province will also enhance the close cooperation of relevant bodies in administrative procedure reform.

 

Regarding investment incentives, in addition to general incentives provided by the Government of Vietnam, Quang Binh province also applies the highest incentives and preferences in the given framework. Besides, it provides other supports for investors to carry out their projects like land compensation and site clearance, labour training and infrastructure construction to the fence of projects. Quang Binh also applies specific treatments for hotel and restaurant projects in accordance with Decision 38/2014/QD-UBND of the Provincial People's Committee dated December 31, 2014. In particular, the province always accompanies investors from their survey phase, project planning to the project going into operation and timely supports, helps them solve difficult problems. The province understands that the success of businesses is a contribution to the provincial socio-economic development.

 

In addition, important and groundbreaking projects of the province’s economic and social development strategy will be granted additional treatments of the provincial government.

 

In the past years, the provincial government has actively directed its subordinates to apply measures and solutions to better the investment and business environment and raise competitiveness; reform administrative procedures; create an attractive, transparent and friendly investment environment for all investors, and attract all resources for socioeconomic development. As the business and investment environment improves, more and more investors, both international and at home, have come to the province to invest, namely Vietnam National Textile and Garment Group (Vinatex), PetroVietnam, SUN Group, Vin Group and many others.

 

The province has actively launched domestic and foreign investment promotion events, contact potential investors, and broadcast its potential and advantages to investors on mass media channels to catch the interest of investors. In spite of limited budget for development investment, the province has tried to mobilise all available resources for gradual infrastructure improvement to meet economic development requirements. Twice every year, provincial authorities hold meetings and dialogues with business executives and investors; review and supplement the list of investment projects; and adjust investment policies to provide the best conditions for investors and help them deal with emerging problems.

 

In the coming time, the province will lure more investment capital for highly competitive and advantageous areas like cave tourism, ecotourism, leisure tourism, marine tourism, and construction material production based on local input supplies like limestone, glass sand and energy (thermal and wind power). Furthermore, it will carry out all commitments to investors and utilise existing resources to build and improve socioeconomic infrastructure and speed up the progress of key projects to serve local economic development needs.