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Nearly VND24,000 billion will be allocated to the areas of the Central Highlands region’s strength such as coffee processing, rubber, eco-tourism and modern industry.

The secoVND24,000 billion investment for Central Highlandsnd conference on investment promotion for the Central Highlands of Vietnam was held in the Central Highlands province of Gia Lai’s Pleiku City on April 12 in the presence of Prime Minister Nguyen Tan Dung and Minister of Public Security General and Head of the Steering Central Highlands Committee Tran Dai Quang.

Addressing the conference, Minister of Planning and Investment Bui Quang Vinh underscored the need to prime the pump for the development of the transport system in the region, particularly the national highway 14 and attract more investors in the key processing industries to fully tap the existing potential and advantages.

The Chairman of the Lam Dong provincial People’s Committee stated that the region needs to have high-quality human resources to meet requirements for socio-economic development and strengthen regional connectivity to attract foreign investment and official development assistance (ODA) funding.

In his speech, Prime Minister Nguyen Tan Dung called on ministries, sectors and the Central Highlands region to mobilize all resources for developing modern infrastructure facilities with a focus on key transport projects.

The region needs to pay heed to training high-quality human resources, adopt appropriate incentive policies aimed to lure more foreign investment and encourage the application and transfer of technological advances, enhance administrative reform to create an open investment environment and sharpen competitive edge, Dung noted.

The Government leader requested the Ministry of Planning and Investment to soon issue preferential mechanisms for boosting the Central Highlands’ socio-economic development and ensuring its national defense and security through 2020.

At the conference, several banks pledged to provide credit capital for investment projects in the Central Highlands region with VND12,900 billion from the Vietnam Bank for Agriculture and Rural Development (Agribank) and VND7,500 billion from the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

13 businesses were also committed to pouring VND16,200 billion and US$11.5 million into the region while investors and other businesses contributed VND248 billion to social welfare.

(VOV)

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