Quang Ninh promotes PPP model for further development
Quang Ninh province has been promoting the PPP investment and management model aiming to mobilise all resources and initiatives for its target of becoming a service-industry oriented locality by 2020.
Quang Ninh (VNA) – The northern coastal province of Quang Ninh has been promoting t🔯he public-private partnership (PPP) investment and management model aiming to mobilise all resource♌s and initiatives for its target of becoming a service-industry oriented locality by 2020.
Chairman of the provincial People’s Committee Nguyen Duc Long described Quang Ninh as a great construction site where many projects are underway.
2015 recorded strong development for the PPP model, especially in infrastructure development, transport and tourism projects, Long said.
Local authorities have granted an investment license to the joint venture between Cong Thanh Investment and Construction JSC and Phuong Thanh Investment and Construction JSC to build the Ha Long- Van Don expressway and upgrade the Ha Long – Mong Duong section of National Highway 18 under the build-operate-transfer (BOT) model with a total investment of nearly 14 trillion VND (616 million USD).
Once completed by the end of 2017, the project will help reduce traffic on National Highway 18 and shorten the distance from Hanoi to Ha Long city and the Van Don Special Economic Zone, and from Ha Long to the Mong Cai Border Economic Zone.
Chairman Nguyen Duc Long said the projects will help complete the infrastructure network in the province and attract more investment, promoting socio-economic development in Quang Ninh and the key northern economic region.
He said that local authorities will create the best conditions for investors to implement their projects on time.
A series of projects have been implemented under the PPP model since late 2014
The provincial People’s Committee said that 25 PPP projects have been conducted on schedule so far.
Vu Van Khanh, Director of the provincial Department of Transport said the transport sector will coordinate with relevant sectors to accelerate the construction of the Ha Long-Hai Phong expressway for completion by late 2016.
Apart from transport infrastructure projects, Quang Ninh has also applied the PPP model to social and working infrastructure, medical and educational establishments and information technology. Local authorities have also asked for approval from the Government to build the Quang Ninh airport and Van Don-TienYen-Mong Cai expressway under the model.
In 2015, the province attracted a total investment of 51 trillion VND (2.244 billion USD), a year-on-year increase of 12.5 percent. The province has put forth a number of policies to facilitate investment and overcome business difficulties. This helped increase investor confidence in local authorities and the investment climate of the province.
During the year, it welcomed a number of major projects worth trillions of VND from both domestic and foreign businesses such as the Vincom Centre Ha Long and Vinpearl Ha Long invested by Vingroup, Ha Long Ocean Park invested by Sun Group, and Ha Long Star Tourism Urban and Entertainment Complex Casino invested by real estate developer Nakheel from the United Arab Emirates.-VNA
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Illustrative image (Source: Internet)
