Australian investors eye Cần Thơ as it prepares for major expansion

Australian investors eye Cần Thơ as it prepares for major expansion

Starting July 1, the Mekong Delta city will merge with nearby Hậu Giang and Sóc Trăng provinces, creating an expanded Cần Thơ city spanning about 6,400 sq.km, four times its current size, with a population of over 4.2 million, nearly triple the present figure.

Chairman of the Cần Thơ municipal People’s Committee Trương Cảnh Tuyên highlighted local potentials and strengths during a working session on Tuesday with a delegation from the Australian Chamber of Commerce in Vietnam (AusCham) led by its Executive Director Edwin Law. — VNA/VNS Photo

Chairman of the Cần Thơ municipal People’s Committee Trương Cảnh Tuyên highlighted local potentials and strengths during a working session on Tuesday with a delegation from the Australian Chamber of Commerce in Việt Nam (AusCham) led by its Executive Director Edwin Law.

Tuyên said starting July 1, the Mekong Delta city will merge with nearby Hậu Giang and Sóc Trăng provinces, creating an expanded Cần Thơ city spanning about 6,400 sq.km, four times its current size, with a population of over 4.2 million, nearly triple the present figure.

The merger is poised to unlock vast opportunities in trade, services, marine economy, and high-tech agriculture, with investors promised the highest incentives allowed under Việt Nam’s Investment Law and recent Finance Ministry guidelines.

Cần Thơ pledges to keep refining tailored policies and mechanisms to draw firms, particularly in such priority sectors as transport infrastructure, renewable energy, and hi-tech agriculture, he said.

The Trần Đề deep-water port, a critical piece of Việt Nam’s national seaport strategy and currently located in Sóc Trăng, is set to anchor Cần Thơ’s marine economy. Expected to sharply reduce logistics costs, the port will propel agricultural exports and improve global market access for the Mekong Delta. With the merger, potential in wind energy and aquaculture in coastal areas will also be unlocked.

On the agriculture front, Cần Thơ is going hi-tech with a Government-approved 415ha agricultural zone in Hậu Giang, paired with a 28ha digital economy zone to drive modern farming.

The city already boasts strengths in commerce, services, sci-tech, logistics, education, and specialised healthcare. A 2022 National Assembly resolution designated Cần Thơ as home to a 250ha regional hub for agricultural processing and distribution, and the city is advancing a plan for one million ha of high-quality and low-emission rice, with 250,000 ha already in production, he added.

Tuyen assigned the Department of Finance to serve as the focal point for connecting, coordinating, and supporting Australian investors exploring and establishing partnerships in the city.

Law, joined by representatives from 14 Australian firms in education, energy, manufacturing, infrastructure, and green economy, said the trip was part of AusCham’s strategy to link its members with Việt Nam’s high-growth hotspots. He called Cần Thơ the beating heart of the Mekong Delta, perfectly aligned with Việt Nam’s national development goals.

He expressed hope to team up on trade promotion, forge business-to-business ties, and back sustainable projects that are in sync with Cần Thơ’s vision. He also showed interest in exploring Cần Thơ’s investment policies, especially those around land access, tax breaks, and administrative procedures – key factors for building investors' trust and promoting fruitful co-operation. 

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