Trang tiếng Việt
Long An enjoys favorable conditions to lure investment PDF Print
Thursday, 03 November 2016 09:55

VIETRADE - With available advantages and potentials, the Cuu Long (Mekong) Delta province of Long An has many favorable conditions to attract domestic and foreign investors.


Located in a prime spot in the Southern Key Economic Region, the province served as a bridge between HCM City and 12 provinces in the southern delta region. It also shared a western border with Cambodia.


The province's road and waterway transport, including the Ben Luc - Long Thanh highway that connected the province with Long Thanh International Airport, had greatly improved over the years.


Long An had developed 16 industrial parks with the occupation rate of 61% and 14 industrial complexes with the occupation rate of more than 88%.


Furthermore, it currently had about 5,000ha of clean land ready to welcome investors from now to 2020.


According to the provincial People’s Committee, these conditions helped the province to promote economic development and business co-operation at home and abroad.


The locality was home to approximately 7,900 businesses with total investment capital of more than VND189 trillion (US$8.43 billion). It has to date lured 1,259 domestically-financed projects worth VND139.84 trillion (US$6.24 billion).


In term of foreign direct investment (FDI), the province had thus far attracted 772 projects with capital totaling US$5.1 billion from investors in 37 countries and territories, becoming the leading province in FDI attraction in the region.


According to provincial statistics, the processing and manufacturing industry dominates with 485 projects, valued at US$2.96 billion. Japanese Sapporo Vietnam Co specializes in beer production in Viet Hoa – Duc Hoa Industrial Park was one of the successful processing and manufacturing investor in Long An.


In the past nine months of this year alone, Long An licensed 300 new projects with a combined investment capital of VND25.54 trillion (US$1.14 billion).


The committee chairman Tran Van Can said that Long An called on the economic sectors to invest in developing the infrastructure, especially in traffic, irrigation, clean water, clean energy as well as advanced science and technology and biological technology to serve for the demand for industrial and agricultural development.


From now to 2020, the province had been seeking investment into 16 prioritized projects that needed total investment capital of nearly US$7.4 billion, Can said.


The projects would be involved in several areas such as development of industrial parks, waste water treatment, biotechnology, logistics, beside to agriculture, transport infrastructure and energy development.


In his speech at the recent Long An Investment Promotion Conference, Prime Minister Nguyen Xuan Phuc asked Long An to make a stronger breakthrough in development to create the favorable investment and business environments to attract the investors to the province.


He urged localities to develop a transparent legal framework and a fair competitive environment to ensure the rights of businesses.


Local authorities at all levels, he said, needed to strictly conform their commitments with enterprises while maintaining dialogues with these firms to timely resolve their difficulties.


Also at the conference, the committee granted investment licences to  12 projects. Six of which, valued at VND4.33 trillion (US$193.3 million), came from local investors while the remainder capitalized at US$118 million would be developed by foreign investors.


Among these new projects included the Mekong Industrial Cluster, being developed by the Mekong Real-Estate Investment Company Limited in Can Duoc District and a project to upgrade and extend Route No.830 from An Thanh Town in Ben Luc District to Duc Hoa Town, being invested by the Bang Duong Trade Construction Investment Co Ltd and Bang Duong-Bamboo Capital Joint Venture.


The event also saw four memoranda of understanding signed between local authorities with investors, who pledged to pour an additional US$3.16 billion into the province./.

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