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Investment in infrastructure helps Phu Tho attract investors

The efforts of Phu Tho province to mobilize all resources to invest in infrastructure have paid off, with the flow of both domestic and foreign investment in the northern mountainous province increasing remarkably.
Investment in infrastructure helps Phu Tho attract investors ảnh 1Phu Tho efforts to mobilize resources to invest in infrastructure have paid off (Source: phutho.gov.vn)

Phu Tho (VNA) – The effortsof Phu Tho province to mobilize all resources to invest in infrastructure havepaid off, with the flow of both domestic and foreign investment in the northernmountainous province increasing remarkably.  

In the past, many investors cameto Phu Tho with the intention of doing business, but they were deterred by thepoor transport and industrial infrastructure.

Aware of the problem, theprovince has tried a new approach which is to mobilize funding from othersources rather than from the limited local budget and falling public investmentto build infrastructure.

During just nearly three years,Phu Tho has mobilized nearly 27.8 trillion VND (nearly 1.2 billion USD) for 94projects, which brought about striking changes in the local transport and urbaninfrastructure.

Some remarkable examples are theViet Tri – Ba Vi (Van Lang) Bridge connecting Phu Tho with the capital city ofHanoi, the Tin Cuong Bridge linking National Highway 32C with Noi Bai-Lao CaiHighway, the Ho Chi Minh Highway through Tam Nong district, among others.

The province has also completedphase three of the Thuy Van industrial park and clearance work for more than151 ha of land in Phu Ha and Cam Khe industrial zones.

The improvement in local infrastructurehas persuaded investors, helping Phu Tho attract 32 domestic investmentprojects with total registered capital of more than 6.1 trillion VND and 19 newforeign-invested projects capitalized at 126.7 million USD. Meanwhile, 22 existingFDI ones added 207.6 million USD to their investment.

In addition, the province has successfullyused the form of public-private partnership (PPP) to build a number of keysocial projects, for example the Hung Vuong high-quality school, phase 2 ofHung Vuong Hospital with 200 beds, and the 500-bed obstetrics-paediatricshospital.  

The provincial authorities aimto mobilize another 29 trillion VND, with 21 trillion VND to come from theprivate sector, during 2019-2020, for key infrastructure projects.

Director of the provincialDepartment of Planning and Investment Ho Dai Dung said in the time ahead, PhuTho will focus on review and adjust the socio-economic development plans of theprovince, districts and cities. The province will also make land use planningfor transport, irrigation, tourism, infrastructure and urban areas, while shoringup planning management among sectors and administrations at different levels toprevent overstretching and overlapping.-VNA
VNA
#Phu Tho #industrial infrastructure #limited local budget #urban infrastructure #Thuy Van industrial park #economic development plans #Vietnam #VietnamPlus #Viet Nam News Phu Tho

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