Northwest Social Security Investment Promotion Conference: Opportunity for Tuyen Quang to Get Closer to Investors

The Northwest region not only plays a strategically important role in national defence, security, economy and society but also contains rich potential in land, forest and mineral resources. It also has plenty of advantages for the development of tourism and agricultural processing industry. Therefore, the conference is very important to promote economic development potential, expand regional economic connectivity, and build motivation for overall regional development.

 

The conference will introduce and advertise potential and advantages of the Northwest in general and Tuyen Quang province in particular; pave the way for investors and businesses to access key investment projects, understand Northwest investment mechanisms and incentives; create a forum for domestic and foreign investors and businesses to meet, exchange experiences and establish partnerships. Besides, the event will honour outstanding enterprises doing business in the region, actively engaging in social security, and supporting the poor in the Northwest. Thus, the organisation of investment promotion forums and social security promotion events is essential for domestic and foreign businesses, donors and institutions to share and join hands to reduce hardships and express the gratitude of people across the country to Northwest people.

 

Attending this conference, Tuyen Quang province brings 45 projects to introduce to investors, including 24 industrial production projects, 13 tourism, service and trade projects, two agro-forestry production projects, one health project, and five infrastructure construction investment projects. Besides, the province has 12 ODA projects to call for investment capital.

 

In spite of being a mountainous province, Tuyen Quang has many potential and advantages like land resources and water resources for agricultural development, an abundant labour force and a broad market. This is also a favourable market for developing industries, consumer industries and domestic and export markets.

 

Tuyen Quang has a large agricultural land area, including 82,652.56 ha of arable soil, accounting for 14.09 percent of agricultural land. Fertile soil plus tropical climate is good for growing such crops such rice (over 26,000 ha), orange (over 6,000 ha), sugarcane and peanuts (8,500 ha), tea (8,000 ha) and plants for paper production. Hence, this is the potential for the province to stabilise food security and input supply for agro-forestry processing industry. The province has over 200 ore sites with 30 types of minerals like iron, barite, kaolin, tin, manganese, lead, zinc and antimony. This is a very favourable factor for Tuyen Quang to develop mining industry and construction material production industry.

 

Tuyen Quang is developing such tourism forms as leisure tourism, ecotourism and historical revolutionary tourism as it has more than 460 cultural and historical monuments, including important ones like Tan Trao, Kim Binh and My Lam.

 

Tuyen Quang has many rivers and streams. Major rivers like the Lo, Gam and Pho Day rivers plus vast reservoirs offer ideal conditions for freshwater aquaculture development. For example, 8,000-ha Na Hang hydropower reservoir and 447-ha Chiem Hoa hydropower reservoir are the ideal places for raising freshwater aquatic creatures. Additionally, the river system forms waterway transport routes and supplies water for production and livelihoods in the province.

 

Tuyen Quang has an abundant human resource as many people are at working age. Up to 65.3 percent of the total population are at working age (15-60 years old), with a majority being healthy, hardworking, dynamic and progressive. The proportion of trained workers accounted for 39.2 percent in 2013, becoming a plus in investment attraction of the province.

 

To promote local potential and strengths, Tuyen Quang has focused on completing plans, issued multiple mechanisms and policies on investment incentives; created a favourable and open business and investment environment to promote economic development. Specifically, the province established a steering committee in charge of improving the provincial competitiveness index (PCI). Tuyen Quang hosts a monthly “business coffee” programme to capture information, exchange and share experience, seek solutions to difficulties facing local businesses, apply single-window mechanism for investment and business registration procedures, settle complaints from citizens and the business community, and support labour training and land management. The province will review and adjust plans and check legal documents to propose changes, supplements or abolitions to reduce the required time and procedures and cut costs for administrative procedures.

 

At the Northwest Social Security Investment Promotion Conference in 2015, Tuyen Quang province has five business attendants as follows.

1.       An Hoa Pulp and Paper Joint Stock Company

2.       Son Duong Sugarcane Joint Stock Company

3.       An Binh Nonferrous Metallurgy Joint Stock Company, under the Vietnam Mineral Production and Processing Corporation

4.       Future Milk Co., Ltd

5.       Tuyen Quang Mineral and Forest Products Joint Stock Company

 

These are five companies with strong impacts on socioeconomic development of Tuyen Quang province at present and in the future.

 

They had good production and business achievements like higher annual business growth, profitability and tax payment. They had to strictly abide by the law on resources and environment, create jobs for local people, fulfil all obligations to employees like wage, social insurance and health insurance, take care of material and spiritual life for employees, and actively improve working conditions, equipment, labour protection, safety and hygiene.

 

The conference has created a forum for businesses to share experience and establish cooperation, raised awareness of entrepreneurs, improved the Northwest investment environment, and introduced investment policies and projects of the Northwest. Domestic and foreign investors and enterprises have met and exchange experience and form business partnerships to boost socioeconomic development in the Northwest.