Ninh Thuan charms industrial development investors

On November 15, Ninh Thuan People’s Committee joined efforts with Ho Chi Minh City People’s Committee to organise a conference in the metropolis to promote Ninh Thuan’s investment, trade, and tourism potential. The event, enticing over 150 businesses and investors, is a strategic step to ramp up the province’s investment appeal, especially in the industrial sector.

Truong Van Tien, director of the Centre for Investment, Trade and Tourism Promotion of Ninh Thuan, said the event presented the province’s potential, strengths, investment environment, and industrial parks (IPs) and clusters to businesses and investors, as well as interested parties from other localities at home and abroad.

“Participants are keen on exploring investment cooperation opportunities in energy and renewables, high-quality tourism, processing and manufacturing, high-tech agriculture, construction, and real estate. In addition, infrastructure investment, and production in IPs and clusters also garner investors’ prime attention,” said Tien.

Tran Quoc Nam, Chairman of Ninh Thuan People’s Committee, noted that Ninh Thuan is currently home to three IPs - Thanh Hai, Du Long, and Phuoc Nam - with a total area reaching 855 hectares, in addition to Ca Na IP with a scale of over 820ha, whose investment policy is being submitted for approval.

“Available land in IPs and clusters is still quite abundant, and rental rates are about 30 per cent lower than those of localities in the region. There are better conditions for investors to access land and infrastructure for production and business development,” Nam said.

The IPs prioritise investment attraction into processing, high-tech, and environmental protection industries, ensuring sustainable and effective investment.

Three IPs are in the stage of technical infrastructure development and investment attraction, of which Thanh Hai IP built technical infrastructure on 58ha using the state budget, and enticing 22 projects with a total registered capital approximating $110 million. Foreign investment capital comes to more than $16 million.

Phuoc Nam IP’s phase 1 has wooed 13 projects with investment value reaching $15.5 million, of which foreign capital is equivalent to $5.6 million. Du Long IP is home to six projects costing approximating $81 million, of which capital from overseas amounts to $31.2 million.

Meanwhile, Ca Na IP is waiting for the Ministry of Planning and Investment and the Ministry of Agriculture and Rural Development to appraise the current status of forest land, which covers nearly 400ha.

Ca Na aims to take advantage of the immense wind and sunlight resources of the area. In addition, it also orients a number of mechanical engineering and other high-tech and heavy industries.

Meanwhile, at an investment promotion conference in the central coastal region held in October in Quy Nhon city, Trinh Minh Hoang, Vice Chairman of Ninh Thuan People’s Committee, said the government is about to deploy investment in a number of key national projects, strongly promoting connectivity for the development of Ninh Thuan and other localities in the central coast.

“This includes adding Thanh Son airport to the master plan for national airport and seaport system development; the Cam Lam-Vinh Hao section belonging to the North-South railway’s eastern part has been completed and put into operation; and the Ca Na seaport complex has put a 100,000DWT port into operation,” Hoang said.

“These projects bring multi-faceted benefits to driving local socioeconomic development, strongly promoting potential, advantages, and attracting investment to Ninh Thuan,” Hoang added.

Su Dinh Vinh, head of Ninh Thuan Industrial Parks Management Board, said that the board will complete technical infrastructure of IPs and ICs in the area and prioritise attracting investors from the ASEAN Economic Community, as well as member nations of various trade deals.

“The province will expedite more domestic and foreign investment promotion programmes, thus presenting its potential, strengths, and advantages of local IPs and ICs to the wider community of businesses and investors,” Vinh said.

As Vietnam is stepping up efforts to cope with climate change, investment into adaptation activities will produce positive impacts in the short and long term.

According to Ninh Thuan Department of Industry and Trade, two solar power projects remain on hold, awaiting the revised implementation plan for an extension, while wind power projects have yet to receive a pricing mechanism to begin construction.

A consortium of South Korea's Daewon Co., Ltd., Japan's MN-Interfashion Ltd, and US' Pairavi Enterprises V1 LLC was granted an investment registration certificate on October 15th to construct Ninh Thuan Faux Fur Fabric Manufacturing Plant.