Kon Tum IPs Welcome Investors

Although IP construction has not been completed, investors are considering the IPs in Kon Tum province, especially the non-state investors. The Hoa Binh, Sao Mai and Dak To IPs are not particularly big but they are located near a fairly good road. Since National Highway 14B in Laos started being used, goods being moved between the Tay Nguyen (Central Highlands) provinces and other countries in the region have been moving through Kon Tum.

The Hoa Binh IP has been expanded and the other two IPs in Kon Tum have been established to change the face of the province.

Kon Tum is rich in mineral resources and its water resources make it possible to build large-capacity hydroelectric power plants.

The People’s Committee of Kon Tum province and other authorities have been busy building an adequate legal environment, promulgating clear, open policies and at the same time encouraging investment in infrastructure development to improve the business environment. The IP management boards are accelerating administrative reform and they are putting in place a one-stop mechanism to help investors save time. The boards also help investors deal with difficulties that they experience while doing business in Kon Tum province.

The three IPs in Kon Tum province are: the 150ha Sao Mai IP, in the first stage of construction on 79.4ha with total investment of more than VND111.53 billion, the 150ha Dak To IP with VND49 billion, and the Hoa Binh IP, the first stage: 59.22ha, VND64.36 billion; the second stage: 100ha, VND150 billion.

So far 100 percent of the area within the first-stage of the Hoa Binh IP has been leased to investors with a total of VND466 billion in registered investment capital, VND160 billion of which has materialized. Fourteen companies have begun production in the Hoa Binh IP. Investors have registered to lease 40 percent of the second-stage area of this IP which would bring total investment capital to VND515 billion.

To attract investors to its IPs, Kon Tum province is accelerating site clearance compensation and infrastructure construction. Infrastructure construction at the Hoa Binh IP is nearing completion and advertising activities are being intensified to attract investors to IPs in the province.

Kon Tum province is building a team of qualified IP managers who will be capable of managing and promoting investment activities effectively. They will help investors deal with any difficulties that arise during the investment process.

A master plan is being made for IP development in Kon Tum province. In the future, all IPs in the province are to have living quarters, shopping centers, service facilities, kindergartens and cultural and sports facilities for those who live and work in the IPs. This will help ensure sustainable development of the IPs.

Kon Tum provincial IPs will also offer services such as banking, insurance, forwarding, electricity and water supply and posts and telecommunications.

The management boards of the IPs in Kon Tum province plan to create websites and take part in exhibitions/fairs to provide information about the IPs. At the same time, the boards will encourage investors present in Kon Tum to promote investment in the province’s IPs.

The IPs of Kon Tum are creating an impetus for development within the province’s industrial sector and sustainable growth within the entire province. With this achievement, the province is going ahead confidently on the international integration path.