Ca Mau Ready to Make Breakthrough in Attracting Investment

5:20:30 PM | 5/12/2013

Despite many disadvantages in attracting investment, Ca Mau has managed to lure a good sum of investment over recent years, contributing to provincial economic and social development. “With breakthrough policies coupled with practical and specific measures, Ca Mau will continue to 'reap rich harvest' in attracting investment,” predicted Mr Mai Huu Chinh, Director of Ca Mau Department of Planning and Investment, in an interview with Vietnam Business Forum. My Chau reports.
How do you assess the effectiveness of investment attracting activities in Ca Mau over the last few years?
 Recent years, the investment attracting activities, especially domestic investment, has had a positive impact on the economy of Ca Mau Province. The projects which had been developed and put into operation has helped accelerated the provincial economic - social development, increase revenue and create jobs. Among them the most effective and positive impact belongs to the project of Ca Mau Electric and Fertilizer complex with two power plants of a total capacity of 1,500 MW (power output about 9 billion KWh/year) and one Fertilizer Plant capacity of 800,000 tons/year, annually contributes about one third of the provincial budget.
By the end of October 2013, Ca Mau had attracted 140 investment projects with total registered capital of VND71 trillion.
Investment attraction into Ca Mau, though it has made positive changes over recent years, is still shy of the province’s potential. For the time to come, what kind of mechanisms and policies will Ca Mau put in place to attract and invite more investors?
Alongside with policies and incentives under the national general provisions, Ca Mau will speed up building infrastructure, training human resources, improving administrative procedures in order to attract more investors; of which administrative reform is one of the key solutions to create favourable conditions for investors and businesses.
Currently, we are investing in constructing infrastructure of industrial zones and complexes (Khanh An, Hoa Trung, Song Doc) to help attracting investment. The Nam Can Economic Zone has been submitted to the Prime Minister for approval of the construction master plan, right after receiving approval, Ca Mau will start planning functional subdivisions and investing in some infrastructure projects to attract investment for this economic zone. Right now, N&M Commodities Pty Ltd (NMC) of Australia has registered a direct investment of US$3.5 billion construction of Hon Khoai Port, Ngoc Hien District. Recently, foreign corporations such as Atlantic, Aikawa, Keasong have also come several times to research and survey the opportunity of investing in the Nam Can Economic Zone.
What has Ca Mau done to deal with cutting off ineffective public investment under the Government Resolution?
Ca Mau has fully understood and seriously implemented Directive 1792/CT-TTg dated October 15th 2011, Directive 27/CT-TTg dated October 10th 2012 and Directive 14/CT-TTg dated June 28th 2013 of the Prime Minister on strengthening investment management and handling construction debt from the State budget and Government bonds, which has helped the province to gradually overcome the issue of inefficiently resource allocation; to re-organise and strengthen the management of capital investment from the State budget and Government bonds.
Ca Mau’s general plan on construction investment has prioritised investment for constructions in transition, completed construction and constructions of emergency in new projects. Inspection and surveillance in construction investment has also been accelerated with an increase in the number of inspections.
Along with that, many programs and projects have been put into use; economic - social infrastructure has been significantly upgraded and enhanced, contributing to economic and social development in both urban and rural areas.
To maximise the resources mobilisation for the economic restructuring towards sustainable and healthy development, what would you propose to the Provincial People’s Committee?
Following the General Project of economic restructuring associated with reforming the growth pattern towards improving quality, efficiency and competitiveness period 2013 - 2020 approved by the Prime Minister (in Decision 339/QD-TTg dated February 19th 2013), the Provincial People’s Committee has assigned the Department of Planning and Investment to develop the Plan of Economic Restructuring. The Department is working on this mission.
To adjust the restructuring to local level, suitable with Ca Mau’s situation, we will advise the Provincial People’s Committee on implementing restructuring public investment; promoting economic restructuring, improving efficiency and link among sectors; promoting each region’s advantages, converting and forming suitable economic areas, diversified in business and levels of development.