FDI News

Bac Giang strives to lure investment to urban development

The northern province of Bac Giang has made tremendous efforts to attract investment to urban development and the building of residential areas in the province, Deputy Director of the provincial Construction Department Vi Thanh Quyen has said.

Accordingly, the province has paid attention to the development of infrastructure and upgrade of existing urban areas, creating a synchronous link between the new and current ones.

It also asked contractors to accelerate the implementation and ensure progress of projects on urban and residential area development.

In addition, investors are encouraged to improve living standard for residents of those areas by using new construction materials, growing more trees and planning areas for physical activities.

Bac Giang has also enhanced monitoring and supervision to address difficulties during project implementation, as well as strictly handled violation cases and revoked projects that fall short of financial sources.

In the coming time, it will set up a database on housing and property market in a bid to facilitate State management and create a foundation for urban development plans.

The current rate of population in 17 urban areas in Bac Giang hit about 14.9 percent. To date, the province has lured nearly 15.3 trillion VND (655.48 million USD) to urban development. About 5.83 trillion VND were disbursed, with 1.3 trillion VND sourced from State budget.

To realise the target of having about 23 percent of urban population by 2020, local authorities will devise a budget plan and set up landmark, said Chairman of the provincial People’s Committee Nguyen Van Linh.