Last updated: Tuesday, March 19, 2019


Abundant Investment Opportunities in Mekong Delta Provinces

Posted: Tuesday, August 28, 2018

To make breakthroughs in investment attraction, many Mekong Delta provinces and cities have adopted various solutions to administrative procedure reform at public agencies to change the philosophy to serve and support enterprises. Besides, they have improved business connectivity to promote trade and increase investment opportunities.

Can Tho deserved to be among the best living cities in Vietnam
Can Tho is deserved to be one of the best living cities in Vietnam, said Vietnamese Prime Minister Nguyen Xuan Phuc at the Can Tho Investment Promotion Conference 2018 themed “Sharing potential, growing together.”

Indeed, Can Tho City has really impressed domestic and foreign investors by mustering every necessary factor for development. Geographically, the city has an international airport and seaports to facilitate airway and waterway-based trade. Particularly, Trung Luong - My Thuan - Can Tho Expressway and other highways, once operational, will help reduce half of the time travelling from Can Tho City to Ho Chi Minh City.

In addition to ecotourism strengths, the city is endowed with great potential for developing hi-tech agriculture, featured by rice cultivation, fishery and horticulture to create abundant sources of raw materials for growing processing industries.

The remarkable ‘bright spot’ is a robust improvement of the investment and business environment. In 2017, the Provincial Competitiveness Index (PCI) of Can Tho City ranked 10th out of 63 provinces and cities in the country and 5th out of 13 Mekong Delta provinces and cities. The city was classified into the group of localities with good administration quality.

At the Can Tho Investment Promotion Conference 2018, the city called VND124 trillion (US$5.5 billion) of investment capital for 54 projects, of which 44 projects drew strong interests of investors. Mr Vo Thanh Thong, Chairman of the Can Tho People’s Committee, among those 44 projects, 15 received interests of two or more investors or even, four investors each. These projects involve logistics, energy, tourism, hi-tech agricultural infrastructure, industrial zones, real estate, information technology, and other industries.

Addressing the conference, Prime Minister Nguyen Xuan Phuc affirmed that investors choosing Can Tho City to locate their projects are completely right because this land possesses enormous appeal. Along with Da Nang City and Hoi An City, Can Tho is deserved to be among the best living cities in Vietnam.

To make Can Tho a good city for living, an attractive destination for investors, the Government recently issued Decree 103/2018/ND-CP on specific mechanisms on investment, finance, banking and administrative decentralisation for Can Tho. This rule is a great help that the Central Government gives to Can Tho City and a driving force for the city to develop further in the future.

Admitting guidance from the Prime Minister, Chairman Vo Thanh Thong pledged that the government of Can Tho City will provide the most favourable conditions for businesses and investors to develop; strictly deal with harassing and corrupt acts; form a friendly, open government to attract all resources for development investment and gradually build Can Tho into an ideal destination for investors.

At the meeting, leaders of Can Tho City licenced 10 projects and signed 19 investment cooperation agreements. The value of these projects amounted at VND95 trillion. This will be an important launchpad for Can Tho City to move closer to the goal of becoming a centre of industry, commerce, service, tourism, education and training, science and technology, healthcare and literature of the Mekong Delta by 2025 as directed by the Prime Minister.

Many trillion-dong projects in Kien Giang
A total of 44 projects in Kien Giang province have been listed to draw investment capital, including seven projects with a combined investment capital of more than VND1 trillion. The two biggest projects include U Minh Thuong Ecological Tourism Area and Phu Quoc Wastewater Treatment Project, estimated to cost VND2,600 billion each. This information was released at a recent Kien Giang Investment Promotion Forum.

Mr Huynh Xuan Vu, Deputy Director of Kien Giang Department of Planning and Investment, said, key projects seeking investment cover environment, wastewater and waste treatment in economic centres like Phu Quoc and Rach Gia.

“Kien Giang is effectively carrying out the single-window business and investment mechanism to shorten the time needed to handle procedures from three days to one day,” he added.

He also confirmed that business registration procedures will be reduced to half a day and investment procedures will need 30 days instead of 35 days.

Industrially, Kien Giang approved five industrial zones covering 763 ha in total by 2020. Two strategic industrial zones - Thanh Loc (Chau Thanh district) and Thuan Yen (Ha Tien Town) adjacent to areas of special social and economic conditions - will create strong driving forces.

Mr Nguyen Van Tam, Director of Kien Giang Department of Agriculture and Rural Development, said that this province produces 4 million tonnes of food a year on 350,000 ha of farming land. The upcoming strategy is to plan hi-tech agricultural areas in Phu Quoc and Rach Gia.

“In the near term, the province will carry out some models that meet clean standards and then meet new technologies,” he said.

Mr Pham Vu Hong, Chairman of Kien Giang Provincial People’s Committee, wants to seek markets for developing local agriculture and focus on high-quality agricultural products, even above VietGap standards.

Dong Thap sees businesses as driving force for economic development
At the Six-month Business Meeting of 2018 organised by the Dong Thap Provincial People’s Committee, representatives of the Dong Thap Provincial People’s Committee reported on detailed local development in the first half of 2018 to businesses. Accordingly, the province achieved positive socioeconomic development results in the first six months, with an estimated economic growth of 8.02 per cent, ranked third in the Mekong Delta and the highest growth since the beginning of this administration term.

The investment and business climate keeps improving and all economic sectors dynamically develop their production and business activities. In 2017, PCI of Dong Thap province continues to secure a slot in the group of best performers among 63 provinces and cities in the country in 10 straight years and rank first in the Mekong Delta. Especially, Cao Lanh Bridge Project connects Dong Thap with dynamic economic zones to facilitate investment attraction. The province licensed 12 investment projects with a total registered capital of about VND1.23 trillion (US$50 million) since the beginning of this year. Among projects licensed at Dong Thap Investment Promotion Conference 2017, 22 projects are now completing regulatory procedures.

The province had 289 new companies with a total registered capital of VND1.5 trillion in the first six months, bringing total operational enterprises to over 3,500. Local companies are doing good business performances.
Mr Nguyen Van Duong, Chairman of the Dong Thap Provincial People’s Committee, said that Dong Thap is currently leading the Mekong Delta in foreign-invested agricultural companies. Being aware that, in the context of global integration, enterprises play a decisive role in the success of commercial agriculture, the province will thus encourage and facilitate them to take part in agricultural production and consumption value chains, helping bring the Dong Thap agriculture to the world.

He added, Dong Thap always sees them as a driving force of development and an important actor of socio-economic development, industrialisation and modernisation. If it has a new business, it will have one more source of resources for economic development and construction. Duong stressed that “With its determined spirit, leaders of Dong Thap province always listen to suggestions and comments from enterprises to have better administration and apparatus as well.”

Tien Giang: Investment opportunities - Development cooperation
At the Tien Giang Investment Promotion Conference 2018 hosted by the Tien Giang Provincial People's Committee, Mr Le Van Huong, Chairman of the Tien Giang Provincial People's Committee, said, boosted by reform efforts, the investment environment of Tien Giang province has experienced positive changes. The local business force increased from just 165 enterprises 1995 to 4,456 enterprises and 58,400 business households in 2017. In addition, with about 700 new businesses founded a year, the local investment environment has proven its growing appeals.

He also informed that Tien Giang province is cooperating with VNPT Group to deploy the Mekong Information Technology Park (Mekong ITP) to attract and develop information technology human resources for Tien Giang province in particular and the Mekong Delta in general. Besides, the Provincial People’s Committee signed a cooperation agreement with VNPT Group to build My Tho into a smart city with the aim of creating a scientific, smart business environment for investors and businesses in the light of the Fourth Industrial Revolution.

Addressing his guidance, Prime Minister Nguyen Xuan Phuc expressed his hope that Tien Giang province will address uneven development as a result of failing to untap its existing potential and advantage to become a main locomotive for economic development of Mekong Delta. “Tien Giang has all necessary elements to become a super satellite city for Ho Chi Minh City if the provincial government has the vision and competence to realise the My Tho City development vision as well as other cities. I suggest that the Party, the Government and people of Tien Giang province should make full use of all favourable conditions to bring back the glorious history of Tien Giang soon,” said Prime Minister Nguyen Xuan Phuc.

Witnessing leaders of Tien Giang province handing over investment decisions and research permits to 30 projects with a total pledged fund of more than VND16 trillion (US$680 million), Prime Minister Nguyen Xuan Phuc also suggested that enterprises should not hesitate to carry out their projects in Tien Giang province because this locality is robustly developing and determinedly transforming into a more dynamic pattern. Just a short time to come, Tien Giang with a new face and a new impetus will rise to become the most dynamic economic region and the driving force for the entire Mekong Delta.

Binh Phuoc to soon connect arterial traffics with the Southeast
At the Binh Phuoc Investment Promotion Conference 2018, the Binh Phuoc Provincial People’s Committee licensed 23 domestic and foreign investment projects with a total capital of over US$1 billion. This is considered a “bright spot” of the conference and a sign that Binh Phuoc has found the right path to unlock its existing potential and strength.

Speaking at the Opening Ceremony of the Conference, Chairman of the Binh Phuoc Provincial People’s Committee Nguyen Van Tram introduced remarkable economic development advantages of Binh Phuoc province, especially its agricultural production strengths. To tap these advantages, the province has actively adopted interesting investment policies, applied attractive investment incentives, sped up administrative reform, improved investment and business climate and formed a fair, healthy environment for every company to “live well.” These are also the reasons why more and more investors believe and come to Binh Phuoc, thus exciting innovative business startups. So far, the province has 6,425 enterprises with a combined registered capital of VND53,506 billion (US$2.3 billion). In early 2018, Binh Phuoc attracted 22 projects with US$314 million of investment capital, bringing all FDI projects to 185 with US$1.85 billion of investment capital (an increase of 90 times over 1997), including 125 operational projects which have made actual contributions to local socioeconomic development.

In the coming time, Binh Phuoc province will focus on drawing investment capital into hi-tech agriculture, agricultural processing, supporting industries and other fields. Chairman Nguyen Van Tram also invited domestic and foreign investors and businesses to the province.

Addressing the conference, Prime Minister Nguyen Xuan Phuc suggested that all levels and branches of Binh Phuoc province should strongly improve business investment environment and create a good playground to promote entrepreneurship and innovation in the coming time. “At present, the ratio of business to residents is 1 to 150 in Binh Phuoc, equal to the country’s rate. I expect to see the business community to double to 10,000 enterprises in 2020 and the per capita income to double as well,” he stressed.

Prime Minister Phuc said that the Government is planning to launch a number of large projects, starting with a strategic cooperation agreement between Hoang Anh Gia Lai Group and Truong Hai Auto Corporation (THACO) to grow industrial crops on nearly 100,000 hectares of land, and will develop Hoa Lu Border Gate, running through Binh Phuoc province and connecting with Saigon Port and Cat Lai Port, to export agricultural products to Indonesia, China and other markets. “That is why, at the signing ceremony of the cooperation agreement between HAGL and THACO, I emphasised that this important project will bring the three countries of Vietnam, Laos and Cambodia closer together. Thus, they will not only help farmers increase incomes but also uplift the agricultural position of the three countries in global value chains,” he said.

My Chau - Nguyen Hung

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