Bac Lieu IPs Enhance Competitiveness to Draw More Investment

The investment attraction in Bac Lieu province in recent years falls short of local potential, like the province’s 56-km coastline, good aquaculture and commercial fishing, salt production, and seaport construction. To push social and economic development and reach a higher position in the Mekong Delta region and the whole country, Bac Lieu has gradually pushed back difficulties and made every effort to attract investors to do business for mutual interests.

 

 Currently, to form a favourable business environment for investors, Bac Lieu is planning to build many industrial parks like Tra Kha (66 ha), Lang Tram (96.54 ha), Seaport Service Zone (1 ha), Ninh Quoi (200 ha), Vinh Loi (200 ha), and Ganh Hao (90 ha); and a lot of industrial complexes like Nhat Mat (60 ha) and Ngan Dua (50 ha). Notably, the Prime Minister agreed to add Ganh Hao Port (Dong Hai district) to the list of major seaports to be developed from now to 2020, with orientation to 2030. The Ministry of Transport is finalising procedures for official approval of the above planning (the port project is a joint venture between Bac Lieu province and the Vietnam National Oil and Gas Group - PetroVietnam).

 

On that basis, the province has been carrying out Tra Kha Industrial Park in Ward 8, Bac Lieu City; Lang Tram Industrial Park in Gia Rai district (Petro Vietnam is an infrastructure construction investor); and Ninh Quoi Industrial Park in Hong Dan district. At Ganh Hao Seaport, the province plans to attract investors to build thermoelectric and wind-to-power centres. The thermal power centre alone (with three plants with a combined designed capacity of 3,600 MW) will cost an estimated US$1.5 billion and will pay some VND750 billion a year after it is operational. This is one of the big projects which will create development momentum for Bac Lieu province.

 

In addition, Bac Lieu has announced a list of investment projects and new investment incentive policies, and organised investment promotion conferences in Ho Chi Minh City and Hanoi. It has also promoted cooperation with other provinces and cities like Ho Chi Minh City and Can Tho, as well as large companies. In particular, Bac Lieu signed economic cooperation agreements with the Vietnam National Oil and Gas Group (PetroVietnam) in January 2010, the Vietnam National Textile and Garment Group (Vinatex), and other concerns to add momentum for social and economic development in the province.

 

Mr Huynh Tiet Thao, Director of Bac Lieu Industrial Park Management Board, said: "With many projects being developed, this will be a good opportunity for Bac Lieu to call more domestic and foreign investors to do business. Then, the province will have more driving force to boost economic growth and raise living standards for the people.

 

The Bac Lieu Industrial Park Management Board will create all favourable conditions for investors to save time and cut costs when they invest in industrial zones in the province, from start-up to official project operation. From the standpoint that “authorities do what is hard, business do what is easy,” provincial authorities are always open, friendly and willing to welcome domestic and foreign investors to do business in the province.

 

Their goodwill is also reflected by the improvement in its provincial competitiveness index (PCI) in the past year. In 2010, Bac Lieu rose 29 places from 2009 (from grade 59^th position to 30^th position) to be rated “good” instead of “average.” Its jump in the PCI was the second biggest in 2010.

 

In addition, Bac Lieu has focused on accelerating infrastructure construction to lure investors. Authorities at all levels have stepped up administrative procedure reform, and lift working professionalism, conduct and responsibility. They are actively examining and removing unnecessary procedures to create a comfortable and convenient environment, especially legal climate, for investors.

 

Labour force is also a difficulty for businesses in industrial zones. Hence, Bac Lieu is striving to outline and implement human resource development programmes to supply qualified workers for investors.