Industry and Tourism Are Key Catalysts for Local Economic Growth

The Tay Ninh Provincial Planning for the 2021-2030 period, with a vision to 2050, defines developing industry and tourism services as the main driving force for growth, associated with the development of new spaces to turn Tay Ninh into one of the industrial development and tourism services centers in the Southeast region and the country.

Industrial development aligned with provincial planning

To develop the industry rapidly, comprehensively and sustainably, Tay Ninh has adopted consistent solutions to prioritize resources for infrastructure investment, improve the investment and business environment, create clean land funds, and attract domestic and foreign investors to carry out their business projects. Currently, the province is home to five industrial parks (IPs) in operation. As of August 15, 2024, industrial parks and economic zones attracted 337 investment projects, including 273 foreign direct investment (FDI) projects with over US$8.7 million of investment capital and 64 domestic projects with over VND12,264 billion (US$523 million) of investment capital.

Along with developing economic zones and industrial parks, Tay Ninh also devotes many resources to boost the sustainable development of technical infrastructure of industrial complexes, thus opening many opportunities and creating platforms for small and medium-sized enterprises (SMEs), industrial manufacturers and small-scale handicrafts to expand their operations.

According to a report of the Department of Industry and Trade, the Tay Ninh Provincial Planning for the 2021-2030 period, with a vision to 2050, figures out 10 industrial complexes with a total area of 583.18 ha in Tan Chau, Tan Bien districts, Hoa Thanh and Chau Thanh towns. Five industrial complexes are in operation, including Tan Hoi 1, Thanh Xuan, Ben Keo, Hoa Hoi and Ninh Dien. As of the end of 2023, they attracted 20 projects (12 domestic projects and eight FDI projects) with a total investment capital of VND1,598.6 billion (US$68 million) and US$95.56 million, mainly engaged in textile and garment production and starch processing. Their average occupancy rate reached 93.7%. In addition to operational industrial complexes, Tay Ninh also has two licensed industrial complexes, namely Tan Hoi 2 and Tan Phu, and three newly planned industrial complexes, namely Tan Hiep, Tan Hoa and Thanh Long.

Looking at the master planning, Tay Ninh province’s industrial complex development orientation is placed in areas with favorable infrastructure, separated from residential areas. Planning and developing Industrial complexes in poor localities with limited potential and advantages for industrial park development will enable economic restructuring in disadvantaged areas, support developing SMEs and cooperatives. The province will give priority to forming and developing specialized industrial complexes and supporting industries with reasonable scales to attract SMEs and household-run production facilities to invest in industrial and handicraft development. At the same time, Tay Ninh will create land funds to relocate production facilities scattered in residential areas to industrial complexes, support the relocation of projects with environmental pollution risks out of urban areas to maximize infrastructure advantages of industrial complexes and protect the environment.

Focus on developing trade and services

In addition, the Tay Ninh Provincial Planning sets out orientations and solutions for developing trade and services: Promoting the development of trade and services in a diversified, high-quality and effective manner; actively promoting foreign trade with the border provinces of Cambodia and boosting trade in the Southeast region, especially with Ho Chi Minh City; linking mechanisms to regulate production planning and attract trade development; expanding and diversifying export markets for each product, attracting investors to develop modern trade and supermarket systems to meet consumer demand and stabilize the market; effectively operating and modernizing the trade infrastructure system at border gates to serve merchandise import and export; focusing on developing human resources in the trade sector; and developing multimodal transportation and logistics services to power trade development.

At the same time, the province will develop logistics services into one of the important economic sectors and make Tay Ninh one of the centers for commodity transit, transportation, warehousing, logistics and trade in the Southeast region; and focus on developing logistics service centers in Moc Bai Border Gate Economic Zone, Xa Mat Border Gate Economic Zone, Hung Thuan Port and Thanh Phuoc Port.

To achieve these objectives, Tay Ninh province will foster the development of commercial infrastructure, including synchronous planning of warehouse systems for gathering import and export goods at border gates to support cross-border trade.

The province will upgrade, renovate and build new traditional market systems; develop convenience stores and specialized stores and gradually standardize professional stores to develop modern trade; invest in building well-scaled commercial centers and supermarkets in dynamic areas and urban areas; build and operate an exhibition center; develop infrastructure to serve import and export activities in conjunction with developing border economic zones, dry ports and logistics centers and industrial, urban and wholesale markets. The province is expected to have 11 commercial warehouses as planned by 2030.

Regarding solutions to investment attraction into industrial, trade and service sectors, in the coming time, the Department of Industry and Trade of Tay Ninh province will continue to implement consistent solutions to improve the investment environment, sharpen the province's competitiveness, and create advantages in attracting foreign direct investment. The department will innovate investment promotion, attract a new wave of high-quality investment capital to develop industry, services and agricultural processing in which the province has competitive advantages. It will strengthen investment promotion through companies operating in the locality, and effectively apply the Coordination Regulations in developing, managing and implementing the annual Investment Promotion Program.

Besides, the department will effectively apply policies on investment incentives and support in the province; focus resources on investing in essential infrastructure in industrial zones, tourist areas and industrial service areas as planned.

The locality will attract and employ highly qualified human resources, entice investors to invest in zones, tourist spots, agricultural production, processing and consumption areas; effectively implement inter-regional cooperation programs, expand international cooperation with neighboring localities of Cambodia, and international organizations in Vietnam; facilitate businesses in the province to maintain and expand traditional markets such as China, South Korea, Japan and EU, as well as new markets like South America and Africa.

In particular, the department will further speed up administrative reform, enhance leadership and management capacity, focus on applying the single-window mechanism in handling administrative procedures and building e-government and digital government; review, reduce and simplify administrative procedures and business regulations to facilitate and reduce costs for people and businesses.

By Duy Anh (Vietnam Business Forum)