GIA LAI

Gia Lai EZ and IPs: Springboards for Investors to Success

11:05:00 AM | 25/7/2019

By utilizing potential advantages together with an open policy and dynamic investment environment, Le Thanh International Border Gate Economic Zone and industrial parks (IPs) of Gia Lai province have become trusted destinations of many domestic and foreign investment projects.

Optimistic signals

The province of Gia Lai is home to Tra Da Industrial Park, Le Thanh International Border Gate Economic Zone, and South Pleiku Industrial Park. Detailed plans for the 199.55-ha South Pleiku Industrial Park has been publicly announced under the law and submitted to the Prime Minister for approval.

The 213.13-ha Tra Da Industrial Park has complete technical infrastructure. By June 2019, it housed 47 investors with 52 investment projects which leased 83.6% of rentable land and registered to invest VND1,949 billion, of which VND1,531 billion was already disbursed. Among licensed projects, 38 have fully gone into operation, three are partially operational, 10 are under construction and one is clearing ground for construction. Despite tough socio-economic situations, tenants in Tra Da Industrial Park have still managed to achieve positive progress in revenue and industrial production value. Up to the present time, they have employed 1,851 workers, each of whom is paid an average of VND5.1 million a month, 1.65 times higher than the regional minimum wage.

The central area of Le Thanh International Border Gate Economic Zone is 155.12 ha, established under the Prime Minister’s Decision 139/2001/QD-TTg dated September 21, 2001 and upgraded from a national border gate to an international border gate under the Prime Minister’s Decision 306/QD-TTg dated March 13, 2007. Constructed technical infrastructure items include trunk roads, internal roads directly linked to National Road 19, electricity supply system, water supply system and communication service network. In order to boost trade with Cambodia and create a spacious look for the central region of Le Thanh International Border Gate Economic Zone, the province invested in building a 1,800-square meter border gate market and an 8,400-square meter car lot. Other construction items consist of the working office of the Economic Zone Authority, joint control stations, kiosks leased to Cambodian merchants and the National Gate, which was inaugurated on April 19, 2019. This beautiful national gate was built in the style of the Rong House (Communal House, a special architecture of ethnic minority groups in the Central Highlands). Invested with VND44 billion, the gate is typical of the Central Highlands culture, expressed as national independence, a symbol of Vietnam - Cambodia friendship and solidarity, and an ideal destination for tourists and international friends.

By the end of June 2019, Le Thanh International Border Gate Economic Zone was home to 23 investors investing in 29 projects with a total registered capital of VND392.3 billion, of which VND163 billion was disbursed. Licensed projects are mainly involved in trade, service and warehouse business. Business performances of investors in the economic zone are increasingly stable and developed. Cross-border business and trade have grown well. Up to now, tenants have employed 115 regular workers, with average pay of VND4.1 million a month.

Door opened wide to investors

Mr. Pham Van Binh, Director of the Gia Lai Economic Zone Authority, said, to enhance investment attraction into Le Thanh International Border Gate Economic Zone and Tra Da Industrial Park, the province has actively focused on directing the development of industrial parks and economic zones, drawing investment capital, improving the investment environment, and providing open policy mechanisms and favorable conditions for enterprises. For its part, with its friendship and eagerness to support investors, the authority always sees the success of investors as the success of the province. In the past years, it has regularly cooperated closely with relevant agencies, sectors and localities to deal with difficulties faced by tenants and facilitate their sustainable business development. In addition, the authority sets out solutions to support businesses such as developing and promulgating annual administrative reform plans and programs, administrative procedure control plans, administrative procedure disclosures in single-window agencies and on their relevant websites; speeds up information technology application to management, administration and administrative reform. It also strives to significantly reduce the time for processing administrative procedures and assisting tenants save time and costs.

By the end of June 2019, Le Thanh International Border Gate Economic Zone was home to 23 investors investing in 29 investment projects with a total registered capital of VND392.3 billion, of which VND163 billion was disbursed. Licensed projects are mainly involved in trade, service and warehouse business.

With its tireless efforts, the Gia Lai Economic Zone Authority has made clear progress in administrative reform; improved public service quality; created fundamental changes in cooperation between administrative agencies and the authority with businesses to shape a more transparent, fairer business environment and improve the Provincial Competitiveness Index (PCI). For that reason, business and investor confidence in the Gia Lai Economic Zone Authority in particular and the Gia Lai provincial government in general is markedly increasing. This will also be a huge advantage for investment attraction into the province in the coming time.

Together with this advantage, Gia Lai province has concentrated on enhancing the effectiveness and efficiency of State management to further draw investment funds into Le Thanh International Border Gate Economic Zone and local industrial parks. Given its existing potential and strengths, appealing investment incentives and open investment mechanism, Gia Lai province in general and local economic and industrial zones in particular will become an ideal investment environment and a launchpad to success for investors. “To turn the potential and advantage of Le Thanh International Border Gate Economic Zone and industrial parks into great economic resources, the province needs the continued care and direction of the Party, the State and Government, the support of central agencies, and the interest of the business and investor community. I believe that Le Thanh International Border Gate Economic Zone and industrial parks of Gia Lai province will be a favored destination for investors and businesses to reap new success,” said Director Binh.

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