Five projects worth nearly VND3.1 trillion were licensed into the poverty-stricken province during an Investment forum there on Saturday (17 Oct), while six other deals were sealed with combined pledged capital of over VND20 trillion (USD 1.1 bil).

The signings were graced by President Nguyen Minh Triet, who joined the forum to help in attracting investment now that central authorities had decided to choose Ninh Thuan as the venue for the country’s first two nuclear power plants.

At the Ninh Thuan Investment Conference, organized by the provincial government, the Ministry of Planning and Investment, and Japan External Trade Organization, attendance was overwhelming with over 500 local and international investors, plus officials from ministries and provinces and International representatives.

Among investors awarded investment certificates, EAB Viet Wind Power Co.,Ltd was licensed to develop the Phuoc Huu wind power plant worth VND1.5 trillion, while ICC Toan Cau Joint Stock Co. will invest more than VND482 billion to develop the Ganesa Ninh Thuan Resort.

Others given the licenses include Minh Thanh Tourism Co., Ltd., which will develop the Bai Thung eco-tourism area and an urban area worth VND170 billion.

Would-be investors at the forum were also aggressive with their projects, as seen in the six agreements signed between provincial chairman Nguyen Chi Dung and investors.

Saigon Invest Group, or SGI, struck a deal with the province to develop a big semi-processed titanium factory worth VND1 trillion. Dang Thanh Tam, chairman of SGI, said that his group would develop the project like the one that SGI has built in the central province of Binh Dinh that was opened in July. "Its purpose is to process titanium into highly valuable product, helping limit the export of raw ore," he told.

Vietcombank signed three MOUs to give financial support for three companies doing business in Ninh Thuan. They included Ha Long Investment Development Co., Ltd., Duc Loc Co., Ltd and Son Hai Joint Stock Company Nguyen Hoa Binh, chairman of Vietcombank, also committed that "Vietcombank will do our best to support local and international investors investing in Ninh Thuan."

In the first step, the bank has considered "The Credit Package for Ninh Thuan," and will arrange a total fund of VND1 trillion with preferential rates for investment projects there, especially those green and clean projects such as tourism, wind power facilities, and projects included in the list of priorities supported by the State, Binh said.

Truong Xuan Thin, secretary of the provincial Party Committee, said that to support Ninh Thuan to achieve its breakthrough development, the Prime Minister had permitted Ninh Thuan as the first province in Vietnam to hire foreign consultants including the U.S. Monitor Corp. and British Arup Corp. in strategic construction and planning.

These two global leading consultants will develop three master plans for the province including a master plan for overall socio-economic development of Ninh Thuan in the period of 2010-2020, a master plan for development of Phan Rang - Thap Cham city and a master plan for the coastal strip of the province.

At the conference, 54 projects considered to be highly potential in the province in the fields of industry, clean energy, tourism, mining, and aquaculture were also introduced to investors.

* On the same day, construction of three large-scale projects valued at VND3.1 trillion also commenced in Ninh Thuan.

The Binh Tien Tourist and Investment Joint Stock Co. broke ground for a tourism project covering 190 hectares that houses a luxury resort, a hotel, villas, a cultural village, a dog racing ground, and an 18-hole golf course. The project has an investment capital of nearly VND2.58 trillion and is expected to be completed in 2014.

Meanwhile, Ha Long Production and Investment Co. Ltd also started work on a big project to process salt worth VND340 billion for the first phase. It will be put into operation next year to produce 200,000 tons of salt a year for domestic consumption and exports.

Work also started on the construction of Ninh Chu Bridge across Khanh Hoi estuary by the provincial Department of Transport. The 511-meter-long bridge at a cost of VND192 billion is expected to facilitate traffic along the coastal route after its completion in 2011.