Chu Lai airport in Quang Nam province. (Source: VNA)

According to the provincial Department of Planning and Investment, with a list of 233 projects prioritised for investment attraction, Quang Nam aims to open up opportunities for cooperation in different areas, from investment to trade connections with foreign partners.

The department reported that in the first four months of this year, Quang Nam granted investment licences to 109 projects, including 16 foreign-invested ones.

Director of the department Nguyen Quang Thu said that the department has been assigned to select 30 strategic investors meeting the locality’s investment attraction orientations, along with five international organisations and associations to approach, enabling the province to set up and send working groups to work with them in 2024 and 2025.

One of the criteria for the projects is the capacity to attract satellite manufacturing businesses, forming a global value chain and production - manufacturing - supply - service clusters, he said.

For domestic investors, the locality targets enterprises in the top 500 firms of Vietnam, from which it will choose 30 prestigious economic groups with high financial capacity to call for investment in the period, said Thu.

The province takes the master plan for the 2021-2030 with a vision to 2050 as the foundation for investment attraction, focusing on areas that the locality has outstanding advantages.

Vice Chairman of the Quang Nam People’s Committee Ho Quang Buu said that the province will evaluate and select investors right from the beginning to avoid the postponements or extension of investment time.

The locality will set up a cooperation relationship with Vietnamese economic and diplomatic representative offices abroad to reach investors, he said.

At a working session with the provincial Department of Planning and Investment in late April, Secretary of the Party Committee of Quang Nam Luong Minh Triet pointed out that the locality boasts great development potential but its capacity to attract investment remains modest.

He stressed the need for the province to make documentaries introducing the potential and advantages of the locality to investors, while increasing investment promotion abroad.