Kien Giang province seeks investors for 64 projects
Kien Giang province seeks investors for 64 projects
The Cuu Long (Mekong) Delta province of Kien Giang solicited investment in 64 projects at an investment forum held in HCM City on August 13.
The projects are mainly in clean and high-tech agriculture, offshore aquaculture, shrimp farming in greenhouses, fishing and preservation of catches, farm produce processing, water supply and waste treatment, renewable energy, and tourism, Le Thi Minh Phung, deputy chairwoman of the provincial People’s Committee, said.
Building infrastructure in industrial parks and clusters, sea and river ports, urban transportation, workers’ housing, construction of a 500-bed hospital together with a resort in Phu Quoc are some of the others, she said.
The province has diverse terrain, including pristine forests, mountains and islands, which offers great potential to attract investment in industry, trade and tourism, she said.
The province has enjoyed average economic growth of 7.39 per cent over several years, and 58 per cent of its workforce is trained, she said.
Pham Vu Hong, chairman of the provincial People’s Committee, said agro-forestry, aquaculture and tourism development in Ha Tien, Kien Luong and U Minh Thuong areas have not been exploited to their potential.
Its fishermen catch 500,000 tonnes a year but follow traditional methods of preservation, resulting in low quality, and links in the value chain from catching to processing remain weak, leading to the sector’s low efficiency, he said.
“Attracting investment in industrial parks and clusters has achieved early results in the form of 24 projects, but they are mainly concentrated in the Thanh Loc and Thuan Yen industrial parks though the province has five parks and clusters that meet all basic requirements for investors.”
Through the forum, the province wanted to seek investors in all areas of the agriculture and fishery value chains to enable more products to enter the global market, he said.
It also sought investors who could exploit its huge potential in marine aquaculture, marine tourism, transportation, and clean and renewable energy, especially in coastal areas, he said.
Investment is urgently needed in waste treatment in urban areas and key tourism sites and residential areas, he said.
Investment incentives
At the forum, the province updated delegates about its investment incentives, including waiver of land rentals for the whole duration of projects in sectors with special investment preferences, for 15 years in preferential sectors and 11 years in others.
Hong said the province has focused on achieving strategic breakthroughs and economic restructuring.
Many steps have been taken to improve local competitiveness and the investment climate, making it easy for businesses to do business, he said.
He pledged to create favourable business conditions and all possible incentives to ensure investors can grow their projects.
Dr K Srikar Reedy, India’s consul general in HCM City, praised the province to create favourable conditions for foreign investors.
“I am happy to note that an Indian company, ION Exchange Ltd, has recently signed three memorandums of understanding with the province to develop the Cua Can Reservoir at a cost of US$71.2 million, the Phu Quoc wastewater treatment system at $119.7 million and the Rach Gia wastewater treatment system at $40 million.
“Some Indian companies are also exploring opportunities to set up agricultural and aquatic processing plants in Kien Giang Province.”
The forum witnessed the signing of deals for co-operation in enhancing investment and promoting trade and tourism within and outside the country by the Investment, Trade and Tourism Promotion Centre of Kien Giang Province (KITRA) and the Investment and Trade Promotion Centre of HCM City, the HCM City Union of Business Associations and the Business Association of Overseas Vietnamese.
KITRA also signed many memorandums of understanding with businesses seeking to invest in the province.
