Dong Thap Province Offers Red Carpet to Investors

VIB Forum interviewed Huynh Van Sang, director of the Dong Thap Department of Planning and Investment, about the province’s investment attraction.

 

In the 2001-2005 period, Dong Thap province attracted many domestic and foreign-invested projects, including those developed mainly by private enterprises. This is a dynamic sector with high business effectiveness, making a contribution to the province’s economic development. In particular, many private enterprises from other localities have invested in production and business establishments in Dong Thap.

 

With great potential for the development of agriculture, Dong Thap has mostly attracted investors in rice processing. This has helped increase rice consumption of Dong Thap to over 2.4 million tonnes, with 60 per cent of this selected as high quality rice, while maintaining the price at a stable level, which benefits farmers. At the same time, seafood processing has attracted the attention of over ten investors with seven operational plants, each capable of producing between 4,000 and 8,000 tonnes per year. These plants have contributed to the development of Dong Thap’s fisheries. Animal feed production alone has attracted six investors with two operational plants, each of which can produce between 20,000 and 40,000 tonnes per year. Also, some enterprises have invested in manufacturing new products for the industrial sector, electronic assembly industry and canned products.

 

To achieve such results, Dong Thap has concentrated on developing industrial parks and complexes. So far, the province has three concentrated industrial parks, including Sa Dec, Tran Quoc Toan and Song Hau, and 16 industrial complexes in districts and towns. Local industrial parks have attracted 28 projects with a total investment of VND 775.54 billion plus US$1 million. Of the figure, eight projects have become operational and four others are expected to start operation in late 2005. All projects in industrial parks concentrate in the processing industry, so they can tap fully the province’s potential of abundant material supplies.

 

In the coming time, Dong Thap will focus its attention on attracting investors with priority and encouraging policies. For example, at an investment promotion seminar held in Ho Chi Minh City in late May, Dong Thap concentrated on attracting investment to industrial production with projects on animal feed production, textiles, garment and footwear production and fruit processing for export. The province will encourage projects to be developed in the border gate economic zone of Thuong Phuoc, and projects to build wholesale markets, service and trade centres, and eco-tourist sites.

 

To prepare for the forthcoming integration process, Dong Thap is developing a programme on economic international integration. Accordingly, the province will select fields of comparative advantages to issue suitable policies and solutions. The province will accelerate its socio-economic infrastructure development. At the same time, more priority policies will be issued, while administrative procedures will be simplified with a ‘one door’ mechanism to accelerate licence granting. Also, the province will offer incentives in land rent and site clearance, as well as vocational training. Dong Thap always offers a ‘red carpet’ welcome to investors, creating the most favourable conditions for Vietnamese and foreign enterprises to invest in the province.