In the past years, the Provincial Party Committee, the Provincial People's Committee and the Industrial Zones Authority of Bac Lieu province have adopted and implemented many effective measures to create an investor-friendly, attractive business environment. The province has built many industrial zones to provide land ready for all investors.
To attract investors, Bac Lieu has planned and built many large-scale industrial parks like Tra Kha (66 ha); Lang Tram (96.54 ha), Sea Port Services Zone (1 ha), Ninh Quoi (200 ha), Vinh Loi (200 ha) and Ganh Hao (90 ha), and many smaller industrial complexes like Nha Mat (60 ha) and Ngan Dua (50 ha). Notably, the Prime Minister agreed to add Ganh Hao Port in Dong Hai district to the national port development list for the phase to 2020, with orientation to 2030.
On that basis, apart from efforts to draw investment capital, the province has carried out investment projects in Tra Kha, Lang Tram, Ninh Quoi and other industrial parks. To date, local industrial parks have housed 25 projects with total investment capital of VND1,500 billion, including four having gone into operation. These licensed projects have leased up to 75 per cent of rent-able land.
At Ganh Hao Port, Bac Lieu is calling investors to invest in thermal power plants and wind power plants. The Ganh Hao thermal power plant alone has a total investment capital of US$1.5 billion. Once in full operation, the facility is expected to pay nearly VND750 billion to the State Budget each year. Big projects like this will be the driving force for Bac Lieu province to boost development and accelerate integration.
Mr Huynh Tiet Thao, Head of the Bac Lieu Industrial Zones Authority said, in addition to a better investment environment with much-streamlined administrative procedures for investors, Bac Lieu has unique investment advantages. The province has a 56-km coastline with three large estuaries of Ganh Hao, Cai Cung and Nha Mat, and a large fishing ground of over 40,000 square kilometres where many high-value marine creatures are living like shrimp, squid and fish. This strength enables Bac Lieu to become a development engine for the marine economy, tourism and industrial foods. Currently, the well-developed seafood processing industry has become a key export-oriented economic sector of the province.
Another advantage of Bac Lieu is the very convenient land and water transportation system. National Road 1A and Quan Lo - Phung Hiep route run across the province; Ho Phong - Ganh Hao route links Ganh Hao Seaport with National Road 1A; and Ganh Hao - Gia Rai - Vinh Thuan route connects with Ho Chi Minh Road. These arterial traffic routes facilitate freight circulation and passenger travel from the province to other localities in the region and vice versa, especially major economic centres like Can Tho City and Ho Chi Minh City. Notably, Bac Lieu - Hau Giang - Ha Tien Highway that links Xa Xia Border Gate with Cambodia is expected to help the province boost border trade with other Southeast Asian countries. Apart from transportation advantages, other infrastructure like the communication system, power grid and water drainage system are also good enough for investors to carry out new investment projects in the province.
To tap the above advantages and create breakthroughs in investment attraction for industrial parks in the coming time, Bac Lieu will focus on integrating industrial zone development with its socioeconomic development planning. Thao said, “Bac Lieu endeavours to become a trusted destination welcoming all investors, thereby creating motivations for the province’s socioeconomic development and improving the material and spiritual life of citizens."
Minh Tuan
Vietnamese
