Thot Not District Boosting Investment Attraction, Socioeconomic Development

9:38:19 AM | 8/9/2022

Lying in the northern gateway to Can Tho City, Thot Not district is a hub for merchandise trade and economic development with provinces of the Long Xuyen Quadrangle. These favorable advantages help the district to draw more investment capital and bolster industrial, handicraft, service and trade development.

Releasing potential advantages

Covering 12,202.40 ha, Thot Not district is the northwest gateway to Can Tho City. The district is near three provinces of An Giang, Dong Thap and Kien Giang. Infrastructure, logistics, Vam Cong Bridge and Thot Not Port are a plus for economic exchanges with localities in the region and the whole country.

The district has well-developed processing industries and supporting industries such as milling, components, mechanics, logistics and rice trading to support various services (urban planning, advertising, packaging, vocational training, finance - banking, waste treatment, waterway transport, port and freight transportation.)

In addition, the district has developed handicraft industries such as mechanics, welding, carpentry, interior decoration, traditional trades (rice paper and fishing net production), vermicelli, tofu, bread and brick production to facilitate the overall development and growth of the district’s industry and construction sector.

With an interlaced system of rivers and canals, Thot Not is also a charming tourist attraction with outstanding destinations such as Bang Lang Stork Garden, Ancient House, Moc Quan Nguyen Trong Quyen Memorial, Tan Loc Orchard and traditional handicraft industry villages that make fishing nets and rice paper.

Vam Cong Bridge crosses the Hau River, connecting Thot Not district in Can Tho city and Lap Vo district in Dong Thap province

Over the past time, the district has achieved many positive socioeconomic results. In the first six months of 2022, the production value of industry and construction was estimated at VND18,981 billion, equal to 55.08% of the yearly plan and up 5.29% year on year. The locality had two new companies and 16 handicraft producers, bringing total industrial and construction facilities to 1,354 (including 145 enterprises), which hired 16,697 workers. The value of commercial production and services also grew well to an estimated VND8,122.7 billion, equal to nearly 60% of the annual plan and up 8.11% year on year.

Thus, this has created a driving force for Thot Not to develop into one of the strong districts that play an important role in the socioeconomic development of Can Tho in particular and the Mekong Delta in general.

Toward a prosperous and beautiful urban area

The 12th Congress of the Party Committee (2020-2025 term) defined the goal of building Thot Not into a high-tech agricultural and industrial hub, a center of trade, services, agricultural distribution, food and eco-tourism, and a key traffic hub of the northern gateway of Can Tho City.

Currently, the district is developing many key projects. The district has called for private investment for socioeconomic development through such projects as Tan Cang Port, Royal Residence, new urban areas along Nguyen Thai Hoc Street, Thoi Thuan Urban Area and Thot Not Industrial Park. The district’s public utilities have been upgraded and expanded, including embankments, green parks and outdoor sports training areas.

By 2050, Thot Not district will have two functional areas with six subdivisions, covering 10,648.15 ha. In the coming time, the district will further attract investment capital for projects that upgrade the role of Thot Not as a northwest gateway to Can Tho City and strengthen connectivity with the Mekong Delta.

Regarding the investment approach, in the coming time, Thot Not will prioritize trade, service and tourism investment. However, the district will focus on developing key industrial sectors and fields; utilize local advantages for development and implementing key projects; and build synchronous transport infrastructure for socioeconomic development.

In addition, the district will boost investment into supporting industries to develop processing industries and high-quality agriculture; support and encourage enterprises to upgrade equipment and apply energy-saving, advanced and environmentally friendly technologies.

Remarking on the district’s commitments to supporting businesses and investors, Mr. Trinh Minh Thang, Secretary of Thot Not Party Committee, Chairman of Thot Not People's Committee, said, the district will create all favorable conditions and prepare land fund, infrastructure and tax incentives to woo investors to the locality.

In addition, the district will accelerate administrative reform by applying the single-window mechanism; effectively adopt ISO quality management system; and facilitate investors to access projects in the fields of their interest.

Source: Vietnam Business Forum