Tay Ninh Province with Plentiful Investment Opportunities

Huge efforts in calling for investment and administrative reforms have helped Tay Ninh attract many large scale local and foreign investment projects. It is expected that Tay Ninh will achieve strong industrial growth in the coming years.

Tay Ninh is a province of South East Vietnam, bordered by Cambodia and other provinces of the Southern key economic region such as Binh Duong, Ho Chi Minh City and Binh Phuoc. This favourable location promotes Tay Ninh’s dynamic economy. Tay Ninh has two international border gates including Moc Bai and Xa Mat, 4 main border gates and 10 other secondary border gates on the 240km border with Cambodia. Traffic projects crossing Tay Ninh make the province an important international exchange threshold for the region, opening up prospects for the province’s socio-economic development. Tay Ninh is now affirming its important position in cooperation programs of the Mekong river sub-region. At the same time, Tay Ninh is an ideal destination for local and foreign investors to develop production and service.

 

In addition, Tay Ninh has huge potential for the development of agriculture, industry, service and infrastructure. Tay Ninh has a mild climate with fertile soil, with limited impact from storms, making it suitable for developing agricultural and industrial trees. After applying technical and scientific advances to agricultural production, the province’s agriculture sector has achieved stable and strong growth. Besides the traditional product, rice, Tay Ninh also emphasizes other agricultural plants such as rubber, sugar-cane, wheat and peanuts. This allows Tay Ninh to gain the initiative in material sources for processing industries and export. Moreover, animal husbandry achieves good growth.

Sugar-cane is one of the important industrial crops in Tay Ninh. The province is known as the “capital of sugarcane” with 3 production factories and capacity of 12,500 tons/day, and it is the leading province of the country in production and export of cassava (over 80 factories with total capacity of 650,000 tons/year) – an important material for many industries. The province is also one of the leading locations in Vietnam for exporting rubber and cashew. With abundant industrial crops, stable production and high productivity, Tay Ninh is calling for investment projects in agri-product processing industries.

Industry and small industries: the province has constructed a system of agri-product processing factories in specialized areas such as sugar factories, tapioca processing factories and rubber latex processing factories, while step by step constructing industrial parks. The core industry of Tay Ninh is concentrated in industrial parks, of which Trang Bang industrial park has attracted many local and foreign investors. This is an advantage for Tay Ninh, helping transform its economic structure to favour industry-service and agriculture.

 

More importantly, Tay Ninh has the advantage of young and skilled human resources. Thanks to its young population, Tay Ninh has a work force of 629,447 labourers in 2006, accounting for 60 percent of the total population of the province. In terms of tourism, Tay Ninh has many famous tourism landscapes such as Ba Den Mountain, Bureau Central base, Dau Tieng Reservoir, and upstream tours to Vam Co River.

 

In the past 5 years, Tay Ninh has achieved fast economic growth. Average annual GDP growth is about 14 percent; per capita income reaches VND 26,410 million (equivalent to US$ 1,320). Agri-forestry-fishery production values gain average annual growth of 7 percent; the mechanization rate is about 50 percent. At the same time, the province has established farms with model new technologies. Industrial value grows by some 16.8 percent annually. Foreign owned investment projects increase year by year, bringing industrial production value of foreign owned projects up to 46 percent of the province’s total production value. The production value of the service sector achieves average annual growth of 21.5 percent. Besides, import-export activities have achieved positive results; annual import-export turnover in 5 years reaches US$ 2,939 million, an increase of 21 percent. Tay Ninh has made efforts to improve the investment environment and expand cooperation programs. So the province has attracted many capital sources, especially from private sectors and foreign enterprises. In addition, Tay Ninh has focused on developing industrial parks and industrial groups, taking special care with socio-economic infrastructure by improving and upgrading traffic networks, the healthcare system, training and education, and insuring social security.

 

In 2011-2015, Tay Ninh strives to achieve annual growth of 14 percent; agri-foresty-fishery production values reaches annual average growth of 5.5 percent; industrial production value grows 21 percent/year, and services, 14 percent/year. GDP structure in 2015 will be as follows: agri-forestry-fishery of 30-31 percent; industry-construction of 34-35 percent; service of 34-35 percent; with import-export turnover growth of 20 percent/year and annual increase of 14 percent in the State budget. Investment and economic development in the province accounts for 41 percent of GDP (total investment and development capital in five years reaches to VND 112,000 billion). In social issues, the province will try to reduce poverty rate by 2.5 percent annually, creating about 20,000 jobs per year. In terms of healthcare, Tay Ninh targets a proportion of 7 doctors and pharmacists/10,000 people by 2015, and a rate of child malnourishment (under 5 years) of 15 percent. In terms of labour, vocational training will prepare 60 percent of the labour force; natural population increase will be 1 percent; and cultural centres will be constructed in 100 percent of communes.

 

To achieve the proposed targets, Tay Ninh province is continuously constructing and improving infrastructure, perfecting the traffic network to creating favourable conditions for production. The province also invests in modern equipment; applying technical and scientific advances; and developing agri-product production, tourism, industry and service. In addition, Tay Ninh also pays special attention to social security and training activities.

Another 5 industrial parks in Tay Ninh Province with total area of 1,150 hectares are approved by the Government in the industrial park development master plan till 2015 and direction to 2020. These industrial parks, including Hiep Thanh, Bau Hai Nam, Gia Binh, Cha La and Thanh Dien, are set up to best take advantage of geographic location and infrastructure.

 

Tay Ninh province has also 3 established industrial parks, including Trang Bang, Phuoc Dong-Boi Loi and Bourbon-An Hoa. Phuoc Dong-Boi Loi and Bourbon-An Hoa industrial parks are two strategic projects in the province’s program of modernization and industrialization. In addition, the province has planned and arranged industrial clusters in some other districts and communes.

 

Apart from attracting investment into industrial parks, industrial clusters and border gate economic zones (Moc Bai, Xa Mat), Tay Ninh gives priorities for processing projects, and eco-tourism projects in Ba Mountain, Dau Tieng reservoir and national gardens.

 

In the development direction to 2010, Tay Ninh has 25 industrial parks and industrial clusters with total area of 12,000ha. Coming to Tay Ninh, local and foreign investors will receive the best incentives with the lowest responsibility specified by the Government

 

Tay Ninh will accompany investors and enterprises through every process, since the success of the investors is also success for the province itself. Tay Ninh is always welcoming and joining hands with investors to make the province stronger.