Hanoi (VNS/VNA) - Thecentral province of Phu Yen is determined to improve itsbusiness climate and enhance investment promotion to attract capable investorswho can help exploit its untapped potential.

Nguyen Chi Hien, Vice Chairman of the provincialPeople’s Committee, said during an online dialogue held on September 14 by Dau Tu (Investment) newspaper that the province’sdevelopment was still much below its potential, while information about itsadvantages had not reached a large number of investors.

“We will strive to enhance investment promotionto make investors understand more about the investment opportunities here,” hesaid.

The province prioritised investment ininfrastructure development, high-end tourism and renewable energy.

According to Huynh Lu Tan, Director of theDepartment of Construction, with a number of tourist attractions such as Bai Mon,Mui Dien and Xuan Dai Bay, Phu Yen has rich potential forinvestment in tourism property.

Tan said that the province would seek investorswith experience and adequate financial capacity.

Phu Yen also encouraged investment in transportinfrastructure, power supply, parks, waste treatment, water supply anddrainage.

Tan said that any investments must be compliant withthe province’s socio-economic development planning to 2020 with a vision to2030, approved by the Prime Minister early this year.

Nguyen Thanh Tuan, Deputy Director of theDepartment of Industry and Trade, said the province has significant potentialfor building solar and wind power projects.

To date, the People’s Committee has permitted 17investors to study the feasibility and implementation of 19 solar and windpower projects, eight of which were included in the country’s power developmentplanning.

According to Nguyen Hao Hiep, Chairman of FirstReal, a property developer looking to invest in Phu Yen, the province is afertile land for tourism investors in particular thanks to its nearly200-kilometre coastline, beautiful scenery and good transport connectivity.

In addition, the provincial authorities alsohave favourable policies for investors.

Hiep said that Phu Yen needs to be selective inattracting investment to ensure sustainable development.

Phu Yen attracted 284 investment projects duringthe 2011-17 period, including 19 foreign direct investments with totalregistered capital of 6 billion USD.-VNS/VNA