Can Tho City: High FDI Prospects

According to the Can Tho City’s Department of Planning and Investment, the city expects to attract an additional six new FDI projects with a combined investment capital of US$270 million in 2007, doubling last year’s capital. Notable projects are an oil refinery with annual processing capacity of two million metric tonnes, costing US$250 million, an animal feed processing plant costing US$4 million, a US$3 million high-rise building housing offices and a vehicle showroom.

 

Can Tho City-based industrial zones are expected to make a good jump in investment capital attraction. In the first quarter of 2007, industrial parks drew an additional US$47 million from eight fresh projects and eight operational projects. Of the sum, two were FDI projects with an aggregated investment capital of US$9.5 million. According to the Can Tho City Export Processing and Industrial Zones Authority (CEPIZA), the city is now attracting more and more projects demanding highly skilled labour. At present, CEPIZA is negotiating with several Hong Kong investors a land lease for the construction of a clock assembly plant, with a Singaporean investor about an electric equipment production project, and with other investors about an oil refinery.

 

In 2007, Operational projects in Can Tho industrial parks are expected to raise their registered capital by US$150 million, earn US$300 million from exports and pay VND1,000 billion (US$62.5 million) to the State Budget. According to Can Tho Investment, Trade and Tourism Promotion Centre, the sending of business missions to South Korea and Australia in late 2006 and early 2007 has brought in positive results. Many business groups from these two nations have visited Can Tho and expressed keen interests in processing aquatic and rice products and the construction of urban zones, commercial centres and luxury hotels. The centre believes FDI capital inflows will be much larger in the coming time.
Huong Thao