Trang tiếng Việt
Tra Vinh targets to lure over US$2.6 billion investment in five years

VIETRADE - The Cuu Long (Mekong) Delta Province of Tra Vinh has set a goal of attracting about VND59 trillion (more than US$2.62 billion) investment in the 2016-2020 period, according to the provincial People’s Committee.


The province expected VND960 billion (US$43 million) from State businesses, VND49.56 trillion (US$2.2 billion) from private enterprises and VND8.4 trillion (US$373 million) from foreign-invested firms, the committee said.


In order to fulfill the target, Tra Vinh would fostering connection between authorities and businesses in investment promotion and calling for investment in transport, economic and industrial zone infrastructure, Vietnam News Agency quoted Tran Anh Dung, the committee’s vice chairman as saying.


The locality would review and draw up more supportive and preferential policies for investors, while improving its investment environment with focus on speeding up the administrative reform, he said.


At the same time, it would create the most favorable conditions for businesses to access capital and land, while produce them with in-time assistance during their investment.


He added that the province would also make public its land fund, detail planning, and prioritized projects to encourage investment.


Improving the quality of human resources, especially those in rural areas and enhancing local officials’ capacity would be also included, the vice chairman noted.


According to the committee, the locality was offering investors with financial assistance for land clearance compensation and infrastructure development for projects in the province-based economic and industrial zones.


Reduction in land rental fees and trade promotion expenses, as well as support for trademark registration and labor training would also be extended, the committee noted.


As of October, 2016, Tra Vinh had attracted 17 investment projects in the fields of hi-tech agriculture, wind power energy, garment, education and environment, statistics from the provincial Department of Planning and Investment revealed.


They included seven foreign invested projects with a total registered capital of over US$256 million and 11 domestically-invested projects worth over VND404 billion (US$18 million).


So far, the province had lured US$2.96 million in 32 foreign-invested projects, mainly come from Malaysia, the Republic of Korea, Japan, Canada and Taiwan. Meanwhile, VND93.7 billion (US$4.2 million) was poured in 125 projects by domestic investors.


Over past nine months of this year, it had welcomed four domestic and 12 foreign business delegations from different countries such as Japan, Singapore, the Republic of Korea, Australia and Saudi Arabia to seek opportunities. 

Most of them were interested in petrochemical technology, trade-service, steel manufacturing, wind power energy, farm produce processing, garment, ship building, waste treatment, clean water and tourism.


During a recent investment conference in HCM City, local authorities said Tra Vinh strived to lure local and foreign investment in infrastructure development and industrial sector projects.


It needed huge funds for developing ports, roads, bridges, power supply systems and infrastructure to facilitate the development of the newly established Dinh An Economic Zone (EZ) and other industrial zones.


There are 25 projects awaiting investors, including the Dinh An EZ, a US$312 million new urban area, a US$200 million bridge, a seafood processing plant worth US$44 million and a US$12.5 million resort./.

© 2011 Vietnam Trade Promotion Agency - VIETRADE
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