Strategic Delta area woos investors
Strategic Delta area woos investors
Authorities of the Cuu Long (Mekong) Delta province of Long An pledged to create the most favourable conditions for domestic and foreign investors and businesses at an investment promotion conference held in the province October 17.
Tran Van Can, chairman of the province's People's Committee, said: "Our province's motto is ‘your difficulties are our difficulties, your success is our success.'"
Located in a prime spot in the Southern Key Economic Region, the province serves as a bridge between HCM City and 12 provinces in the southern delta region. It also shares a western border with Cambodia.
The province's road and waterway transport, including the Ben Luc - Long Thanh highway that connects the province with Long Thanh International Airport, has greatly improved over the years.
These conditions have enabled the province to promote economic development and business co-operation at home and abroad, Can said.
Despite difficulties, the province has achieved growth of 11.26 per cent and per capita income of VND50.7 million (US$2,273), among the highest in the delta, he said.
Nearly 7,900 businesses are operating in the province with total investment capital of more than VND189 trillion. It is also home to 1,259 local projects with a combined investment of VND139.84 trillion.
The province ranks the first in FDI attraction in the delta, with 772 projects with a total investment of over $5.1 billion from investors in 37 countries and territories, he said.
Under the provincial master plan for socio-economic development until 2020, the province targets per capita income of VND80-85 million, and average GDP growth of 13 per cent a year, and a higher proportion of the industrial and service sectors included in the GDP.
The province yesterday also tabled a list of 16 projects that need total investment capital of more than $7.396 billion.
The projects are mostly in the fields of industrial parks, waste water treatment, biotechnology, logistics, agriculture, transport infrastructure and energy development, including the Long An Border Gate Economic Zone, Phu An Thanh Industrial Zone, a dragon fruit processing facility, and a solar energy development project.
According to the zoning plan, the province is divided into three specific regions, each with specific investment needs.
The first region (food security, tourism, and border gate economic area), has an advantage in agricultural production and tourism attraction.
Investment areas with potential include hi-tech agriculture and agricultural processing near raw material zones and specialised production areas, Can said.
The Binh Hiep Border Gate Economic Area in Moc Hoa and My Quy Tay Border Gate Economic Area are other potential investment choices, as well as eco-tourism tours, he said.
The second region, the buffer zone, is oriented toward agricultural development and has a land fund for industrial development and eco-urban areas, he said.
The province also plans to call for investment in hi-tech agricultural projects and solicit investors for existing industrial parks and clusters, and for projects in eco-urban areas along the river.
The third region will focus on developing urban areas and complex industries in Duc Hoa, Can Giuoc and Can Duoc.
This region is expected to drive development for the province in the future. It needs infrastructure investment at industrial parks and clusters, and residential and urban areas, among others.
"The province's land fund for industrial development until 2020 is nearly 15,000ha, 5,000ha of which is clean land ready to welcome investors," he said.
The province will prioritise projects using modern and environmentally-friendly technologies, and efficient use of land, mineral and other resources, he said.
Speaking at the conference, Prime Minister Nguyen Xuan Phuc hailed the province's achievements over the years in socio-economic development, FDI attraction and the creation of a favourable investment climate.
He asked local leaders to issue clear policies and commitments that would enhance trust among investors.
The PM demanded that the province become innovative in its development thinking by using a green, clean economic model and ensuring sustainable development and environmental protection.
He urged localities to develop a transparent legal framework and a fair competitive environment to ensure the rights of businesses.
Local authorities at all levels, he said, must maintain dialogues with enterprises and walk side by side with them, especially newly established ones.
Tran Du Lich, a member of the National Financial and Monetary Policy Advisory Council, proposed that the province worked with other localities in the area to improve transport infrastructure, and to solve human resource and environmental problems.
New investors
At the conference, the provincial government awarded licences to 12 projects, six of which were worth total registered capital of VND4.33 trillion from local investors. Foreign investors invested a total of $118 million in the other six projects.
Among the new investors was the Mekong Real-Estate Investment Company Limited, which will spend $50 million to build infrastructure for the Mekong Industrial Cluster in Long Huu Dong Commune in Can Duoc District.
The Bang Duong Trade Construction Investment Co Ltd and Bang Duong-Bamboo Capital Joint Venture received an investment certificate for a project to upgrade and extend Route No.830 from An Thanh Town in Ben Luc District to Duc Hoa Town.
The province also signed four memoranda of understanding with investors, who pledged to pour an additional $3.16 billion into the province.
Six businesses also signed co-operation contracts to exploit Long An International Port and export bananas to Japan, among other projects.
