PM calls on investors to pour investments into Bac Lieu

Created 30 January 2018
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Prime Minister Nguyen Xuan Phuc has called on investors to pour more investments into the Mekong Delta province of Bac Lieu which holds great potential for super-intensive shrimp farming and renewable energy.

pm calls on investors to pour investments into bac lieu hinh 0
Prime Minister Nguyen Xuan Phuc (centre), Bac Lieu officials and investors at the investment promotion conference on January 30
PM Phuc delivered the call at an investment promotion conference in Bac Lieu province on January 30, which saw the participation of hundreds of domestic and foreign investors, diplomats, experts, researchers and policymakers and representatives of financial organisations.

To turn Bac Lieu into a shrimp farming centre of the whole country, the PM suggested the province apply climate change adaptive models; maintain clean production and water resources by applying strict production procedures and new technologies; and develop a closed value chain to proactively control the quality and reduce production costs.

At the same time, it is necessary to promote shrimp production in all aspects from varieties, management capacity, processing and food safety, he recommended.

PM Phuc reminded local authorities to pay attention to developing human resources and holding dialogues with businesses in addition to creating a healthy environment for investors by improving institutions, policies, and adjusting schemes for sustainable development.

He affirmed that the Government of Vietnam will create more favourable conditions for businesses to invest in the Mekong Delta province, but it will not welcome investors who damage the country’s environment.

Underlining development pillars that Bac Lieu should focus on, the PM advised the province to pay more attention to high-quality rice production and shrimp farming.

Bac Lieu should also develop renewable energy – a potential field in the province - as well as processing industry, tourism and services, he noted.

The government leader asked the province to strengthen coordination with other localities in the Mekong Delta and the southern economic hub of Ho Chi Minh City, particularly forging connectivity between Bac Lieu, Ca Mau, Kien Giang and Soc Trang.

At the conference, local authorities granted investment licences to more than 10 projects and investment registration certificates to over 20 projects, with a combined investment capital of around VND110 trillion (US$4.85 billion).

The same day, PM Phuc attended a ceremony to start the construction of a hi-tech agricultural application park for shrimp development, release shrimps in a greenhouse of Vietnam-Australia Group, and build a symbol of Vietnamese shrimp.

Bac Lieu has an aquaculture area of 1,290 With a coastline of 56 km, three seaports and an economic exclusive zone of 20,742, the province has favourable conditions to develop agriculture, fishing and fishery logistics. 

Agriculture accounts for 43.1 percent of the province’s gross regional domestic product. Each year, the locality harvests about 210,000 tonnes of aquatic products, of which 115,000 tonnes are shrimp, with shrimp export turnover exceeding US$527 million.

Last year, the province’s economy grew by 6.5 percent and per capita income reached VND37.5 million (US$1,650). The locality contributed more than VND2.8 trillion (US$132.2 million) to the State budget. However, climate change and sea level rises caused great losses to local agriculture in recent years.


Source: Vov

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