An Giang Promotes Foreign Investment Attraction
An Giang is considered one of the most successful provinces in the Mekong Delta in attracting investment with many economic sectors involved in developing production and expanding business activities in the locality.
Domestic investment dominant
An Giang has attracted 786 enterprises with a total investment capital of VND946 billion (US$60.254 million) since the implementation of the Enterprise Law in the 2001-2003 period. The number of enterprises registering for business licences reaches more than 200 each year, double the figure before the Enterprise Law was implemented. Under the Law on Domestic Investment Encouragement, 484 projects have received priority certificates with a total of VND1,558 billion (US$99.235 million). These projects concentrate in advantageous fields of An Giang province, including seafood processing, boat and ship repair, construction, transportation, and tourism services.
However, most projects in An Giang are developed by local enterprises of all economic sectors. An Giang has yet to attract many projects from investors outside the province or from foreign parties.
Solutions for attracting foreign investment
To attract more investment, especially foreign investment, the People's Committee of An Giang has issued policies to provide incentives for enterprises and has rewarded individuals and organisations that help the province attract investment.
Concerning land policies, the People's Committee will try to allocate land to investors as soon as possible. Those enterprises that invest in developing infrastructure facilities in concentrated industrial parks and border gate economic zones will receive development assistance from the province, including soft loans and post-investment interest rate subsidies. The local authorities have adjusted the province's land price framework as a basis for the implementation of a financial mechanism, which uses land funds to develop infrastructure.
An Giang province has also signed an agreement with the Vietnam Chamber of Commerce and Industry (VCCI) to cooperate in promoting support for local and foreign enterprises, providing information about socio-economic development, investment potential and opportunities and knowledge about enterprise management. The province will improve the quality of its website and help enterprises explore markets, join international fairs and exhibitions in Vietnam and foreign countries in order to promote cooperative ties with the Ministry of Trade, the Ministry of Planning and Investment, financial organisations and foreign cooperation programmes. All these improvements are being made to increase the effectiveness in attracting investment. To develop the local human resources for that purpose, the local authorities have assigned the An Giang University, provincial vocational training schools and business clubs to organise training courses on trade promotion, enterprise farming and cooperative management.
Vietnamese
