A corner of Tiền Giang Province. The province has made significant efforts to attract more investment. — VNA/VNS Photo
HCM CITY — The Mekong Delta province of Tiền Giang is soliciting investment in clean industry projects and high added-value projects that use modern technologies and are less labour-intensive, according to the provincial Department of Planning and Investment.
It is planning to attract investment in agricultural farming and processing projects, and hi-tech agricultural and aquaculture projects in Tân Phước, Châu Thành and Tân Phú Đông districts.
In addition, it also wants to call for investment in an eco-spiritual tourism project in Tân Phước District, industrial park infrastructure development in Tân Phước and Gò Công Đông districts, and projects in the financial and banking sectors in Mỹ Tho City and the logistics sector in Gò Công Đông District.
According to Nguyễn Đình Thống, the department’s acting director, the province has targeted attracting 30 projects with total investment capital of nearly VNĐ11.17 trillion (US$493.7 million) to its three key economic areas.
In addition, it will help investors to complete a number of key projects and put them into operation this year.
Despite the COVID-19 pandemic and saltwater intrusion, the province has achieved positive results in investment attraction.
In the first seven months of the year, it attracted 24 projects, an increase of 11 projects over the same period last year, with total new investment capital of VNĐ10.334 trillion ($447.8 million), or 93.6 per cent of the same period last year.
About 5,980 businesses were operating in the province by the end of July. Of the number, 454 were newly established this year.
Phạm Anh Tuấn, vice chairman of the provincial People's Committee, said with its motto 'Tiền Giang investment opportunities and partner for development', the province had approached businesses in innovative ways, developed policies to support investors, and streamlined administrative procedures.
Provincial leaders also regularly met with investors to promptly solve difficulties faced by them.
Located in the southern key economic region and on the gateway connecting the Mekong Delta with HCM City and the southeastern region, Tiền Giang has multiple competitive advantages, especially regional linkages.
It has large fruit cultivation areas and favourable conditions for the development of processed industry, tourism services and other sectors.
Based on such potential, the province has developed priority policies to call for investment, focusing on improving the investment environment and improving provincial competitiveness and boosting administrative reform, according to Thống.
From the investor's perspective, Đinh Cao Khuê, chairman of Đồng Giao Food Export JSC (DOVECO), said Tiền Giang had concentrated fruit-growing areas and transport convenience, and an abundant labour force. These advantages would help to attract investors when they are considering their investment destinations, he said.
In addition, the provincial leaders pledged to create favourable conditions for enterprises to invest in building fruit and vegetable processing factories, and to ensure sufficient supply of electricity and water, and traffic connections for businesses to operate.
At the same time, the province also pledged to create a zoning plan for material cultivation areas to meet production needs of the processing plants.
In the coming time, the company plans to invest in a factory to process, preserve and pack fresh fruits for export and a vegetable and fruit processing factory in Mỹ Phước Commune in Tân Phước District.
It will have an estimated design capacity of about 200,000 tonnes of fresh fruit for export, and 150,000 tonnes of processed products.
Tiền Giang has four industrial parks with over 1,101ha located in convenient positions. It also has four operating industrial clusters - An Thạnh 1, Trung An, Tân Mỹ Chánh, and Song Thuận.
Not all industrial parks are fully occupied, and there is still a significant area of land available to investors. — VNS