Luu Xuan Vinh said the province had great potential in the energy sector, especially after being selected by the Government as the site to build the country’s first two nuclear power plants with a capacity of 8,000 MW.

He said the province was seeking investors for wind-energy and solar-energy projects with an estimated capacity of 2,600 MW, as well as projects on auxiliary services for the nuclear and wind-energy industry.

As one of the country’s sunniest, windiest and driest regions, the area developing solar- and wind-power plants.

Vinh said priorities had been given to other sectors such as tourism, agro-fisheries, forestry and aquatic-product production and processing.

Education and training will also be a top priority, as well as real estate, with a total of 72 investment projects scheduled for the next five to 15 years.

With approval from the Prime Minister, Ninh Thuan is the first province to hire foreign consultants, the US Monitor Corporation and UK Arup, to prepare a plan to make Ninh Thuan a destination with "quick and simple procedures, an area for safe business and effective investments and sustainable development".

Apart from new property and energy projects, the province is expected to benefit from the North-South expressway and railway connecting HCM City to Nha Trang through Ninh Thuan Province.

The highway will help create favourable conditions to promote economic and cultural exchanges with the key Southeast economic zone, Central Highlands’ provinces, the south-central coast.

From 2011 to 2014, Ninh Thuan saw relatively stable growth with an average GDP growth rate of 11.5 per cent per year. Last year, although the global and domestic economy experienced difficulties, the province’s GDP rose to 12.4 per cent.

Nguyen Duc Thanh, secretary of the province’s Party Committee, said Ninh Thuan would continue to improve its business environment, reduce costs and simplify administrative procedures to improve the effectiveness of the Economic Development Office (EDO).

The EDO was established under a "one-stop-shop service" mode to help answer any queries from investors and support them to fulfill investment procedures promptly.

To create the most favourable investment environment, Ninh Thuan authorities also aim to have one of the country’s highest Provincial Competitiveness Index.

In recent years, the province has improved infrastructure and sped up completion of a 116-km long coastal road, with the aim of appealing to investors in the tourism industry.

Ninh Thuan is a south-central coastal province with a tropical monsoon climate and a 150-km long beach with a series of beautiful bays and beaches, with opportunities to develop a marine economy and a luxury resort tourism sector.

Le Thanh Hai, Politburo member and Secretary of HCM City Party Committee, said the conference was the first meaningful step in the cooperation programme between Ninh Thuan Province and HCM City over the next five years.

HCM City enterprises have 56 investment projects worth more than VND16,000 billion in the province, accounting for 22 per cent of total investment projects.

Most of the HCM City investment is in tourism, energy, aquatic varieties, aquatic product processing, and mineral exploitation and processing.

The province has a total of 293 investment projects with total registered capital of more than VND95,000 billion ($4.52 billion).

Also, at the conference, an MoU was signed by TSV Joint Stock Co, Korea’s Luxco and Singapore’s Blue Circle to develop renewable-energy projects in Ninh Thuan.

During the conference, investment certificates were given to projects in wind energy, petrol, hydropower plant expansion and clean shrimp breeding. The Hon Co tourism area was also granted an investment certificate.

The conference was attended by representatives from international organisations, sponsors, the domestic and international enterprise community, and HCM City investors.