Can Tho industrial zone development to attract investors
Can Tho industrial zone development to attract investors
Southern Can Tho province will receive more than $10 million in investment capital in a bid to expand unoccupied industrial park area. Provincial authorities hope the move will draw in more investors in the coming time.
Vo Thanh Hung, head of the Can Tho Industrial Parks Management Authority said that the province will pour VND225 billion ($10.4 million) into expanding the area of Tra Noc 2 Industrial Park (IP), Hung Phu 1 IP, Hung Phu 2A IP, Hung Phu 2B IP, Thot Not IP and industrial cluster in Vinh Thanh district by an additional 10 hectares.
Hung added that the constructions are expected to be completed by this April 30, the expansion area is to make room for roads in IPs, to build two resettlement areas and housing for workers. Additionally, there will also be coverage for a waste water treatment factory in Tra Noc IP.
From 2016-2020, the province will develop two more IPs, namely O Mon (600 hectares) and North O Mon IP (400 hectares). Furthermore, the province will continue to expand the area of Hung Phu 1 IP, Hung Phu 2 IP and Thot Not IP to 974 hectares from 382 hectares. At the completion of constructions, the total area of IPs in the province will reach around 2,300 hectares.
According to Hung, at the moment, these IPs in the province are home (accommodate?) to 214 projects, out of which 23 are foreign investments (FDI) with a total registered capital of $1.91 billion. Currently 192 projects have been implemented and have started operations, while 22are in the phase of infrastructure constructions.
This year, total industrial production and trade will reach an estimated $1.5 billion, with a planned export turnover of $620 million. IPs will contribute by employing 3,500 local labourers and pay VND2 trillion ($93 million) into the local budget.
At present, among eight IPs in Can Tho, two IPs Tra Noc 1 and Tra Noc 2 full 100 per cent area (263.4 hectares) thanks to attracting 183 projects, in which, 18 FDI projects with total investment capital of $998.6 million. This is most successful two IPs in the Mekong Delta. (I am not even sure what this paragraph is supposed to mean…)
As part of the initiative to lure in foreign and domestic investors, the province now has reduced land rent to $0.6 per square metres a year from the previous $4. Also, via bureaucratic restructuring, the time to grant investment certificates has been brought down to 2-7 from 60-90 days.
