NDO – A conference was held on April 4 in Son La province to promote investment in the North-western region and to honour outstanding local enterprises.
The conference was attended by a number of officials, including Deputy Prime Minister Nguyen Xuan Phuc and Vice Chairwoman of the National Assembly Tong Thi Phong as well as local leaders and representatives of commercial banks and enterprises from various localities.
Participants agreed that the north-western region is of strategic importance but remains the poorest region in the country even though the Government has introduced many policies and systems to support provinces in the region.
The poverty rate fell to 18.2% in 2014 but was still higher than the national average of approximately 6%, furthermore local tax revenues only covered one third of the region’s spending.
Speaking at the conference, Deputy PM Nguyen Xuan Phuc said it is an urgent task of both the central government and provincial authorities to create favourable conditions to attract and utilise investment resources in the most effective way.
State Bank of Vietnam (SBV) Governor Nguyen Van Binh said the central bank would implement a range of new measures to increase credit to areas that are strongholds for the North-western region such as agriculture, hydroelectricity, mining and tourism.
In addition, the SBV will ask the Vietnam Bank for Social Policy to grant more loans to poverty stricken and low-income households in support of sustainable poverty reduction efforts.
Within the framework of the conference, enterprises and commercial banks have signed a number of loan agreements worth VND3.5 trillion (US$161 million).
North-western region seeks to attract investment Related image(s)
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