Tuyen Quang welcomes private sector

The provincial authorities presented investment licences to over 32 projects valued at 1.18 billion US dollars at the conference. The investors included the Vinpearl group, with a project worth nearly 40 million US dollars; and a wood processing cluster worth over 20 million US dollars. Prime Minister Nguyễn Xuân Phúc praised the province's success, but also requested local officials to make further efforts to attract investment from the private sector.

"We often talk about state investment, but the state shouldn't be seen as a source of investment capital. All investors we have seen here are private businesses. The private sector is the driving force for economic development. This has been implemented at a provincial level", Prime Minister Nguyen Xuan Phuc said.

PM Phuc stressed that Tuyen Quang's provincial authorities needed to improve administrative procedures to raise the province's PCI from current 48th to rank 20th in the country. Measures include developing infrastructure and socio-economic stability.

"I understand that many investors who put their money and efforts in developing the locality need favourable conditions so they can do long-term business here. I want to ensure investors that the government will always protect their rights. Investors can both make profits and contribute to the country's development, which is a win-win situation", Prime Minister Nguyen Xuan Phuc added.

PM Phuc also reiterated that the government would do its utmost to ensure the stability of the macro-economy, as well as to improve investment and business environment.

"The government is trying its best to earn a spot in ASEAN's top 4 in terms of the business and investment climate. There are 250 tasks that the government is tasked with accomplishing to improve investment environment for domestic and foreign investors", PM Phuc said.

Prime Minister Nguyen Xuan Phuc also visited An Hòa Paper Company, which has benefited from investment from the Geleximco Corporation in the past 5 years. The annually produces 120,000 tonnes of paper and contributes nearly 9 million US dollars of tax to the province. The PM requested the firm to continue to ensure effective waste processing and labour safety.