5:12:08 PM | 29/8/2005
Since it became a centrally-run city one year ago, Can Tho has gained encouraging results in attracting investment capital. VIB Forum interviewed Nguyen Van Duoc, director of the Can Tho Department of Planning and Investment, about the issue.
Can you tell us about Can Tho’s attraction of investment capital since it became a centrally-run city?
In 2004, Can Tho took many measures to attract domestic and foreign-invested projects. These include the development of a plan for calling foreign investment capital in the 2004-2005 period, the introduction of the city’s potential and a list of 17 projects calling for US$300 million in foreign investment capital. The local authorities worked with over 100 delegations of guests from Japan, the Netherlands, Taiwan, Australia, the US, Malaysia, Germany and China, who visited Can Tho to seek investment opportunities. In 2004, concentrated industrial parks in Can Tho attracted a total investment capital of US$56.684 million, granting licences to six foreign-invested projects with a total registered capital of US$21.1 million, allowing two projects to increase their capital by US$6.5 million. Can Tho attracted 111 projects in 2004 with a total registered capital of US$348.291 million. By late 2004, Can Tho city alone had attracted 35 projects, capitalised at US$159 million.
Which fields has the city called for investment?
We have concentrated on calling for investment capital to projects on processing farm-produce and seafood for export, and producing construction materials and animal feed. These projects have made a significant contribution to the city’s economic development. In 2004, revenues of these projects reached US$521.5 million, up by 30.7 per cent against 2003. Their export value was put at US$195 million. They created jobs for around 3,000 regular workers and 6,000 more seasonal workers. They contributed US$4 million to the budget.
Which fields will Can Tho prioritise its investment attraction to be worth a major centre in the Mekong delta?
It is forecast that foreign investment and official development assistance (ODA) capital flows to Vietnam will recover after the country joins the World Trade Organisation (WTO). This is an opportunity for Can Tho to attract these flows. To call for domestic and foreign resources, in the coming years, Can Tho will focus on attracting investment to projects on processing farm-produce, seafood, developing infrastructure, producing construction materials, manufacturing electronic and bio-tech products, as well as trade and services. To that end, we will plan a list of 33 projects calling for US$425.5 million in foreign investment in the 2005-2007 period. We have completed a list of 19 projects prioritised for ODA capital mobilisation for the 2006-2010 with a total of US$1.45 billion.
Which measures has Can Tho taken to promote capital attraction?
To build up Can Tho into a civilised, clean and green city, worthy of being a gateway to the Mekong delta, and a modern industrial, trade, service, educational, cultural scientific and technological centre, we have worked out the following solutions:
Firstly, to adjust and supplement policies on investment attraction, creating a favourable investment environment as a centrally-run city.
Secondly, to renew, and improve the quality of investment promotion activities within a programme effective for each industry, promoting the effectiveness of the use of ODA capital and NGO (non-governmental) donations.
Thirdly, to promote administrative reform, removing unnecessary procedures and attaching importance to attracting foreign investment capital, in particular FDI.
Reported by Hoa Binh
Vietnamese
