KONTUM: PROMOTE ADVANTAGES OF THE DEVELOPMENT TRIANGLE’S CORE AREA

On March 27, 2020 the People's Committee of Kon Tum issued Decision No. 281 / QD-UBND approving the Provincial Investment Promotion Program 2020. Kon Tum plans to spend about VND 2.6 billion for investment promotion activities this year.

Accordingly, the Provincial Investment Promotion Program 2020 is classified into activities (1) Researching and evaluating potentials, markets, investment trends and partners; (2) Building a database for investment promotion activities; (3) Developing a list of projects calling for investment; (4) Developing publications and documents for investment promotion activities; (5) Propagandizing, promoting and introducing the investment environment, policies, potentials and opportunities; (6) Training and strengthening capacity on investment promotion; (7) Assisting organizations, businesses and investors in understanding investment laws, policies and procedures; potentials, markets, partners and investment opportunities; in implementing projects after being granted investment certificates; (8) Implementing domestic and international cooperation activities on investment promotion.

Especially in 2020, Kon Tum will host the 5th Conference on Investment Promotion in the Central Highlands, which is expected to take place by the end of the year. This outstanding event is a regular activity, contributing to promoting investment potentials and advantages for the whole region. It has been successfully organized four times over the past 10 years. The conference is also an opportunity to mobilize investment resources, implement social welfare, contribute to hunger eradication and poverty alleviation for people in the region, especially in ethnic minorities and extremely difficult areas.

Over the past years, Kon Tum has determined that attracting investment is one of the most important tasks, deciding the results of implementing the local socio-economic development plan. Therefore, the province has focused on improving drastically the investment environment, implementing effectively the Scheme for improving the business and investment environment of Kon Tum Province by 2020.

Promoting the advantages of the Development Triangle’s core area, and the East-West Corridor through Bo Y International Border Gate, Kon Tum has combined public investment with private investment to create a spillover effect and attract economic sectors to invest in its potential areas. The province has prioritized attracting projects with advanced technologies, new technologies, high technologies and clean technologies, projects with modern management systems and projects with high added value and positive ‘spillover’ impacts. Kon Tum's list of projects to attract investment in the period of 2018-2020 focuses on its strengths such as renewable energy, high-value agricultural and forestry products, etc.

The crossroads of Vietnam, Laos and Cambodia border belongs to Bo Y International Border Gate area

Accumulated to the end of December 2019, Kon Tum has 363 projects outside Industrial Zones and Economic Zones licensed for investment (approval of investment policies). 327 of these projects are still valid, with a total registered capital of VND 58,287 billion. Out of the valid investment projects, there are 192 industry- construction projects with a total capital of VND 34,077 billion, 112 agriculture and forestry projects with a total capital of VND 22,342 billion and 23 trade-service projects with a total capital of VND 1,868 billion.

To date, 200 investment projects have been completed and put into business, with a total investment of VND 22,064 billion. 57 investment projects are under construction, and 80 projects are completing the procedures. Out of these projects, there are really potential ones such as: VinEco Kon Tum - Mang Den Agricultural Production Development Project and Vincom Shophouse Kon Tum Project of Vin Group; FLC Legacy Kon Tum Urban Area Project of FLC Group; Co.opmart Kon Tum Supermarket Project of Ho Chi Minh City Union of Trading Cooperatives; Goat Milk Processing Plant Project of Mang Den Pharmaceutical and Food Joint Stock Company; Investment project of Ngoc Linh Kon Tum Ginseng Joint Stock Company on forest management, protection and development, combining protection and development of medicinal plants (Ngoc Linh Ginseng) under forest canopy in Tu Mo Rong district, .. .