Nghe An’s Western Woes: How Hydroelectric Plants and Infrastructure Investments Can Boost Growth in Difficult Areas

Nghe An aims to keep 600 billion VND of tax revenue from hydropower annually

The Ministry of Planning and Investment has proposed that Nghe An retain about 600 billion VND in tax revenue from 22 hydroelectric plants in order to develop infrastructure and society in the difficult western areas of the province. This comes as the region faces challenges due to poor transportation infrastructure, with schools and hospitals slow to complete due to lack of capital, and some villages still lacking electricity for daily life and production.

The Ministry of Justice is currently evaluating the draft Resolution of the National Assembly on piloting specific mechanisms and policies for the development of Nghe An. In addition to the proposal to retain tax revenue from hydroelectric plants, the Ministry of Planning and Investment has also suggested preferential policies for marine economic development in Nghe An.

These policies include incentives for aquaculture projects at sea and measures to increase state management of environmental pollution in aquaculture. By implementing these policies, Nghe An aims to improve infrastructure, support economic growth, and enhance the quality of life for its residents.

Nghe An is the fourth most populous province in Vietnam, with significant potential for economic development. The province has exceeded its budget revenue targets in recent years and has attracted substantial foreign direct investment. Despite these successes, there is still work to be done to ensure that all residents have access to basic necessities like education and healthcare.

To this end, the Ministry of Planning and Investment has emphasized the need for investment in infrastructure to offset the impact of hydroelectric plants and promote socio-economic development in the region. By prioritizing investments in transportation infrastructure, schools, hospitals, and other essential services, Nghe An can continue on its path towards becoming a leading economy in Vietnam.

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