Bright Picture of Investment Attraction in Economic and Industrial Zones

9:49:17 AM | 4/12/2019

By strongly launching investment promotion activities and actively improving the open and attractive business investment environment, Tay Ninh province in general and its border-gate economic and industrial zones in particular have obtained significant achievements in investment attraction, signaling spectacular breakthroughs in the coming time. Let’s learn more about this issue with the short interview with Mr. Nguyen Hong Son, Director of Tay Ninh Economic Zones Authority. Cong Luan reports.

Could you briefly introduce bright aspects of the investment picture of industrial zones and border gate economic zones in Tay Ninh province to date?

In the first nine months of 2019, Tay Ninh province-based industrial zones and border gate economic zones attracted 29 investment projects with a total registered capital of VND573.4 million and US$41.8 billion, and witnessed 28 existing projects raising their investment value by US$254.17 million, totaling US$829.39 million in the reviewed period, 18.48% higher than the plan. As of September 2019, industrial zones and border gate economic zones housed 339 valid investment projects (247 FDI projects and 92 DDI projects) with a total registered fund of US$6,229.65 million and VND15,935.23 billion.

Industrial zones and border gate economic zones of Tay Ninh province have fared well because infrastructure developers have launched fruitful investment promotion activities. In addition, the Provincial Party Committee, the Provincial People’s Committee and provincial agencies have actively assisted and supported the business community, with the focus placed on addressing emerging hardships faced by tenants in economic and industrial zones.

Besides, the Tay Ninh Economic Zones Authority has paid due attention to simplifying administrative procedures, reducing the processing time for some investment administrative procedures to facilitate tenants to carry out their projects in economic and industrial zones. The authority has followed project progress of enterprises; timely dealt with emerging hardships against them; and supported them to achieve profitable business results. At the same time, it has regularly posted updated information about industrial zones and economic zones on its website (http://taniza.vn/) and issued brochures to present visiting business missions in the province.

What are your policies of investment attraction into industrial zones and border gate economic zones in Tay Ninh province?

Tay Ninh province does not advocate attracting investment fund at all costs, but pursuing effective and sustainable development, focusing on environmental protection. Economic and industrial zones can only license projects with approved environmental impact assessment reports. Priority is given to projects friendly to the environment, using advanced technologies, using land efficiently, making high value-added products, and requiring less manpower and resources.

How will you deal with obstacles in developing Moc Bai New Urban Area and Xa Mat Border Gate Economic Zone?

In order to assess the development of border gate economic zones and work out development orientations in the coming time, the Provincial People’s Committee has issued a Scheme project on border gate economic zone development, which states some remedial measures. Accordingly, in the coming time, we will focus on mobilizing resources to build border urban areas into sustainable industrial, trade and service urban centers and ensure socioeconomic development, defense and security of Tay Ninh province and the southern key economic region.

Moc Bai Border Gate Economic Zone will shift its development motivations based on duty-free commercial activities to new motivations that focus on developing border gate services, logistics and industrial zones; narrowing the non-tariff area and developing trade and services in association with urban construction; attracting investment funds to create ecotourism, leisure, healthcare and entertainment products. Taking advantage of the opportunity as a gateway to the Trans-Asia Economic Corridor, the need to transit goods from industrial parks in Svayrieng Province (Cambodia) to ports in Ho Chi Minh City, Moc Bai Border Gate Economic Zone can strongly develop warehousing, forwarding and shipping services, and this will become a new driving force to attract development investment. It will accelerate the development of industrial zones and attract investors into these industrial zones. When manufacturing factories go into operation, immigration will help speed up urbanization. It will invest in developing ecotourism, entertainment, museums, scientific parks, resorts, sports and services to serve more than two million visitors crossing Moc Bai Border Gate every year and meet touring needs of about 10 million people in Ho Chi Minh City.

To proactively and effectively utilize the opportunity of drawing investment capital into industrial zones and border gate economic zones and promote local economic restructuring, what actions and solutions will you focus on?

We will continue to implement selective investment attraction policies and focus on persuading existing investors to invite others to do business in the province. To do so, we will host regular theme-based business dialogues (site clearance, construction procedures, environment, etc.), region-specific dialogues (inside and outside industrial zones and border gate economic zones) or sector-specific dialogues (commodity manufacturing, trade and service). Through the dialogues, we will capture difficulties and obstacles faced by enterprises, and will work to figure out solutions to promptly tackle their troubles.

In addition, we will concentrate on approved solutions on border gate economic zone development in the province. Specifically, we will ask the Prime Minister for approving the revised plan of Moc Bai Border Gate Economic Zone with 21,284 hectares; build the general plan of Moc Bai Border Gate Urban Area to expand the area for industry and logistics services and shrink nontariff trade area. At the same time, we will submit the urban area plan of Xa Mat Border Gate Economic Zone for approval and extricate existing troubles to call for investment capital.

Thank you very much!