Prime Minister witnessed new investment flows into Phu Yen

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Thao Le 15:39, 2018/01/20

Prime Minister Nguyen Xuan Phuc on January 19 witnessed authorities of Phu Yen Province licensed 17 projects worth nearly VND12.4 trillion (US$546.8 million) during the provincial investment promotion event.

Phu Yen was the first province in the nation to organize the investment promotion conference in 2018.
At the conference, Phuc called on investors to help transform potential and advantages of the south central province into concrete values.

Prime Minister required Phu Yen to work to turn tourism into a true momentum for the province’s growth

Having applauded Phu Yen’s efforts in economic development, infrastructure building and investment climate improvement, PM Phuc expressed his hope that with these initial foundations and local people’s industriousness, the province will develop rapidly and sustainably and become one of the leading localities in the central and Central Highlands regions.
To reach the target, he asked Phu Yen to strongly reform its mindset and be creative to have more synchronous and effective solutions, adding that the entire political system needs to join hands in addressing difficulties and challenges and seizing opportunities.
The province has to improve its mechanisms and policies and ensure their openness, stability, and transparency in addition to promoting start-ups, especially of young people in rural areas, while paying attention to developing local businesses and attracting more foreign investments, the PM noted.
It is necessary to apply digital technology in administrative management and building e-government to eradicate red tape, he said, adding that Phu Yen also needs to improve its Provincial Competitiveness Index and Provincial Governance and Public Administration Index so as to become a capable and trustworthy partner of investors.
PM Phuc suggested the province reinforce cooperation with neighboring provinces, particularly with Binh Dinh, Khanh Hoa, Lam Dong and Dak Lak which can supplement Phu Yen’s strengths with their advantages.
It should call for investments from major businesses into potential fields, attract investments in clean and hi-tech industries, and determinedly revoke natural resources from badly-performing investors to give them to capable firms, he said.
The Government leader told the provincial authorities to continue working to turn tourism into a true momentum for the province’s development, saying they need to attract big and prestigious investors while diversifying and improving tourism services and enhancing connectivity with Vietnamese and foreign localities.
He also asked Phu Yen to develop fisheries into a major economic sector, support local fishermen, and prevent illegal fishing.
With a strategic geographical location, Phu Yen has a road system that is part of the national North-South route as well as railway, aviation, and sea routes. It also boasts diverse natural resources to develop the sea-based economy, tourism, hi-tech agriculture, mining, and renewable energy.
Over the last years, the province has offered a number of favorable conditions for investors. As a result, from 2011 to 2017, it attracted 284 investment projects, including 19 FDI projects, with a total registered capital of over US$4.74 billion and VND28.67 trillion (US$1.26 billion).

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