Eventful foreign economics in Quang Nam province

By TRINH DUNG |

(QNO) - Quang Nam province is focusing on widening international cooperation, improving the effectiveness of the projects, programmes… in this locality.

Japanese investors in Chu Lai Open Econimic Zone. Photo: T.DUNG
Japanese investors in Chu Lai Open Econimic Zone. Photo: T.DUNG

Attracting foreign capital flows

In January 2016, Sasaki Shoko Vietnam factory (specializing in manufacturing chochin cage net and other types of net serving for aquaculture) was inaugurated in Dien Nam-Dien Ngoc Industrial Park. Also in this park, M&H Vietnam factory was put into operation. They are two among 10 foreign direct investment (FDI) projects with a total capital of 157 million USD in Quang Nam province licensed in 2015. Recently, 46 Japanese companies supplying Mazda Automobile Group  with spare parts, production materials and equipment have had a working visit for investment opportunities to Chu Lai Open Economic Zone. At present, 115 FDI projects with a total invested capital of 1.8 billion USD are  working effectively, creating jobs for thousands of local labourers, tourism and industrial products taking part in global value chains.  

In addition, the province received 180 million USD from ODA (Official Development Assistance) foreign aid. This amount of money was mainly invested in such fields as technical infrastructure development, climate change response, cultural heritages conservation, poverty reduction. Besides, 90 other projects and non-projects, programmes with a total aid of 6 million USD from 72 non-governmental organizations have been licensed. They focus on natural disasters prevention, community health, education and vocational training, environmental protection, social affairs…

Widening international relations

According to economists, many potential investors invest into Quang Nam thanks to the province’s dynamic feature in applying mechanism and policy in order to mobilize all the resources for a competitive and healthy investment climate. The results in 2015 are the strong foundations of  Quang Nam’s sustainable and fast growth in the ASEAN (Association of Southeast Asian Nations) Community and other free trade agreements. Quang Nam province will create the most favourable conditions for FDI businesses, international organizations to operate effectively in the province. According to Chairman of Quang Nam People’s Committee Dinh Van Thu, the Quang Nam authorities usually appreciate the role of international friends  in the province’s successfully eco-social development. Therefore, Quang Nam province hopes the diplomatic representative offices, international governmental and non-governmental organizations to continue helping the province in widening international relations, approaching to the ODA  sources, as well as calling for investment.  At the same time, the effectiveness of the ongoing projects and programmes have to be improved to contribute to the province’s eco-social development.

By TRINH DUNG