• Sat. Apr 20th, 2024

Nghe An’s Plan for Economic Development: Leveraging Hydroelectric Plants and Marine Economic Policies

BySamantha Nguyen

Apr 3, 2024
Nghe An aims to keep 600 billion VND in 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 to develop infrastructure and society in the difficult western areas. These areas have poor transportation infrastructure, incomplete schools and hospitals, and some villages still lack electricity for daily life and production.

The Ministry of Justice is currently evaluating a draft Resolution of the National Assembly which aims to pilot specific mechanisms and policies for the development of Nghe An province, where most hydroelectric plants are located. These plants play a crucial role in ensuring electricity supply for the country but also have a significant impact on the environment and people’s lives, especially during the rainy season.

As part of its plan for economic development, Nghe An is proposed to invest in infrastructure, offset the impacts of hydroelectric plants, and promote socio-economic growth in the region. To support this effort, the province will retain tax revenue from hydroelectric plants to fund development projects.

In addition to its proposal for hydroelectric plants, Nghe An has also suggested preferential policies for marine economic development. This includes issuing licenses for aquaculture projects within 6 nautical miles from the shore along with tax exemptions and reductions for investors in seafood projects. The province hopes that these policies will help it improve its infrastructure, environmental management, and economic efficiency while contributing to regional prosperity.

Nghe An holds significant potential for economic development due to its vast area and large population. By implementing these proposed policies, it aims to improve its infrastructure, environmental management

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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