My Tho City: Overcoming Investment Hurdles, Mobilizing Resources for Development

In addition to seriously developing essential infrastructure, especially traffic infrastructure, to create new development spaces, My Tho City has adopted many solutions; accelerated administrative reform and digital transformation, enhanced competitiveness and improved the business environment, thus drawing more investment resources and boosting the city development, said Mr. Nguyen Quang Thanh, Vice Chairman of My Tho City People's Committee in an interview granted to our reporters.

Despite facing many difficulties, My Tho City endeavored and achieved significant progress of economic, social and urban development in 2023. Can you explain more clearly these results?

In 2023, resolved to achieve the highest goals as planned, My Tho City drastically directed the implementation of socioeconomic development tasks and solutions. Thus, the city achieved and exceeded most important goals. Notably, the total production value was estimated to reach VND55,7047 billion, up 5.07% year on year. Total retail revenue of consumer goods and services reached VND24,752 billion, up 12.0%. Total industrial output value was VND36,985 billion, up 4.07%. Total budget revenue was VND794 billion, down 10.99%. Total investment capital for social development was VND13,580 billion. Per capita income was VND101.3 million.

The city also completed the revised master plan for My Tho City to 2050 and submitted it to competent authorities for approval. It also adjusted the northern sub-zone planning to make detailed resettlement area plans for urban development and embellishment projects; collected residents' opinions on revised zoning plans of Hung Vuong Street and its surroundings. My Tho City also strongly carried out 13 provincially funded projects (costing VBND57 billion, with VND55 billion disbursed and two projects completed); 142 agency-invested projects (costing VND433 billion, with 21 projects completed) and 194 commune/ward-invested projects (costing VND106 billion, with 142 projects completed).

Investment attraction and business development continues to make progress. The city saw 320 new companies and 1,148 new business households in the year. Many urban infrastructure projects have had their procedures accelerated to lay the groundwork for promoting and attracting investors for such projects as the residential area along the Tien River - My Tho City, An Hoa Residential Area, and Nguyen Cong Binh Residential Area and its roadside residential areas. Notably, the My Tho Trade Center will also be completed and put into operation before the Lunar New Year 2024.

Despite being not outstanding, its achievements have created trust and motivation for My Tho City to overcome challenges to get the highest goals in 2024 and in 2021-2025.

Mr. Pham Van Trong, Vice Chairman of Tien Giang Provincial People's Committee, inspected site clearance for the resettlement area of Rach Mieu 2 Bridge Construction Investment Project in October 2023

The Tien Giang Provincial Planning for the 2021-2030 period, with a vision to 2050, suggests many opportunities to attract new investment for My Tho City in the coming years. Would you mind talking more about these opportunities for the city?

The Tien Giang Provincial Planning for the 2021-2030 period, with a vision to 2050, is going to be submitted to the Prime Minister for approval. This is the basis for My Tho City to coordinate with relevant agencies to unlock local potential strengths, introduce the business investment environment and boost investment flows into many fields.

First of all, in the service - trade sector, My Tho City is the administrative center of the province, located not far from Ho Chi Minh City, and has many advantages in terms of transportation, population and strong urbanization to create a pervasive impact on western and eastern economic and urban regions of the province. My Tho is a major consumer market, a place to reserve goods at stable market prices, thus being an ideal condition for large commercial and service projects, creating a good space for capable investors in this field.

Coupling administrative reform with digital transformation

My Tho is also defined as the tourism center of the province and the region, the first stop for tourists visiting the Mekong Delta. The city is endowed with abundant advantages for developing eco-tourism, garden tourism, and a variety of cultural and historical tourism services. Notably Vinh Trang Pagoda and Bach Cong Tu Mansion are always among the most appealing attractions for many tourists. The city is speeding up investment attraction to diversify tourism and service products to extend the length of stay and increase tourist spending, thus enhancing economic performance of tourism.

Investing in building synchronous planned infrastructure to economic growth and environmental protection requirements is identified as one of three breakthrough development stages of My Tho in the 2020 - 2025 period. To realize these breakthroughs, the city is inviting large investment projects such as Song Tien mixed service area, centralized wastewater treatment system, Trung An Residential Area, My Phong Urban Area, extended Nguyen Cong Binh Street and its roadside residential areas.

Administrative reform, business climate improvement and competitiveness enhancement have been major concerns of My Tho City. How have these works brought about practical results in recent years?

My Tho City has paid attention to comprehensively promoting all six areas of administrative reform, integrated with digital transformation. Specifically, the city has reviewed legal documents and consulted relevant bodies to issue guidance documents in time; publicized legal documents, administrative procedures, master plans and land-use plans on mass media and websites of administrative agencies for easy access and search by people and businesses.

To date, the city's single-window system has provided 411 online public services (165 procedures of Level 3 and 246 procedures of Level 4). Administrative procedures, especially those in connection with land, are being upgraded and accepted online applications to reduce travelling time for people.

In the coming time, the city will continue to accelerate administrative procedure reform together with digital transformation, which is considered a breakthrough in building an enabling government. The city is making efforts to achieve the goal by 2025: All popular online public services of Level 3 and Level 4 are integrated into the national public service portal for people and businesses; 80-90% of documents and records are exchanged and completed in the network environment. The city has also effectively deployed e-Office software in agencies and localities to gradually build the e-government.

Thank you very much, sir!

Source: Vietnam Business Forum