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PM urges Quang Ngai to improve investment environment

by NDO03 July 2019 Last updated at 16:58 PM

PM Nguyen Xuan Phuc speaks at the conference. (Photo: VNA)
PM Nguyen Xuan Phuc speaks at the conference. (Photo: VNA)

Quang Ngai should improve its investment climate in order to raise the provincial competitiveness index (PCI), which currently stands at 41st position, Prime Minister Nguyen Xuan Phuc said at an investment promotion conference in the central province

Specifically, the province needs to continue reforming administrative procedures, improving State management capacity, training labourers and ensuring the equal, public and transparent treatment to businesses and investors, the leader added.

Besides, Quang Ngai needs to set forth clear planning schemes and economic development strategies, while paying attention to developing the private economic sector and supporting small-scale firms, he said.

Other important tasks include sustainable poverty reduction and environmental protection, he noted.

PM Phuc pointed out that Quang Ngai has yet to optimise its potential to attract investors, saying the locality boasts several important sources for socio-economic development.

They include the favourable geo-economic location, the seaport and airport system, the Dung Quat Economic Zone and the Vietnam-Singapore Industrial Park (VSIP), the 130-km coastline, special cultural and historical values and human resources, he said.

Local specialties would create huge commercial values once they are invested properly, he added.

He lauded achievements Quang Ngai has recorded in 2018, with economic growth reaching 9.6 percent, export turnover exceeding 20 percent of the set target and state budget collection surpassing 33.4 percent of the estimate.

The locality’s state budget collection stands at over US$1 billion, ranking 13th nationwide, nearly equivalent to the accumulative number of Central Highlands provinces, he further said.

Besides, its per capita income was over US$2,514 per year, equivalent to the national average, he said.

However, the State budget collection mainly relies on the Dung Quat Oil Refinery, and the poverty rate remains high, at 9.57 percent, he said.

The leader, therefore, asked the province to treasure investment capital, which, he said, is valuable to residents in difficult circumstances.

He witnessed the hand-over of investment decisions and certificates to 15 projects with a combined investment capital of over VND14.5 trillion (US$623.5 million).

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