Industrial, Export Processing and Economic Zones: Focus on Intensive Investment Attraction

10:55:22 PM | 16/6/2015

According to the Vietnam Industrial Park Development Master Plan to 2015, with a vision to 2020, Tay Ninh province will have seven industrial zones with a total land area of 3,958 ha. To date, the province has five industrial zones with 3,397 ha of land (Trang Bang Industrial Park, Linh Trung 3 Export Processing and Industrial Zone 3, Thanh Thanh Industrial Park, Phuoc Dong Industrial Park - Phase 1, and Cha La Industrial Park - Phase 1) established and operated, and two border gate economic zones (Moc Bai and Xa Mat).
Asserting nuclear roles
Although the past economic downturn weakened investment flows into industrial zones, with the companion of businesses, the active support of authorities to licensed investment projects, economic, industrial and export processing zones of Tay Ninh province still received much investment capital. Economic, industrial and export processing zones of Tay Ninh province has 258 valid investment projects with a combined registered capital of US$2.72 billion and VND11,887.8 billion (US$660 million), totalling US$3.38 billion, as of April 2015. Particularly, in the first three months of 2015, the province licensed four new investment projects with US$180.88 million and allowed 15 existing projects to scale up by US$52.13 million and VND4 billion. Combined fresh and additional investment capital amounted US$233.01 million and VND4 billion (US$200,000), totalling US$233.2 million.
Among valid investment projects registered in industrial, economic zones and export processing zones in Tay Ninh province, 173 are operational. These projects have generated many jobs for local workers and increased incomes for labourers. Employment in economic and industrial zones increased sharply. In the first three months of 2015, tenants in economic zones and export processing zones employed about 2,500 new workers, bringing the workforce there to 89,507 workers. In addition to employment creation, economic zones and export processing zones also help the province develop services, restructure the local economy and labour, and resolve issues relating to society and sustainable environmental protection.
Strengthening on-spot investment promotion
Mr Huynh Cong Minh, Deputy Director of Tay Ninh Economic Zone Authority said most industrial zones in Tay Ninh province were previously small-scale and open to all projects, except for environment-polluting ones. But, the Tay Ninh Economic Zone Authority has started to focus on attracting capital-intensive projects since 2010.
To improve investment attraction efficiency into industrial zones, the Tay Ninh Economic Zone Authority has collaborated with industrial zone infrastructure developers to deploy in-situ investment promotion methods (always creating favourable conditions for investors to carry out their projects, timely removing difficulties and obstacles, providing the best services, accompanying businesses, assuring businesses of their projects). Thus, existing investors will introduce new ones to the province. At investment promotion conferences and seminars, the authority also covers media with investment attraction information. Infrastructure developers will be responsible for providing technical issues while the authority will support new investors on legal issues and investment policies.
The Tay Ninh Economic Zone Authority has also cooperated with domestic and international organisations to launch investment promotion in foreign countries to seek international investment capital for local projects.
Based on its economic development objectives, Tay Ninh province will focus on modernity, efficiency and sustainability of investment projects; thus it will speed up the construction of modern technical and social infrastructure (cultural institutions, schools, kindergartens, etc.) to develop industrial and economic zones in a sustainable way and draw capital-intensive environment-friendly projects. The province will also attract investment capital for development of supporting industries to create product development chains for local businesses.
Han Luong