Support rises for businesses in Tra Vinh

Relevant departments at the grassroots level are studying solutions to remove issues raised by firms

The province is in full swing to ensure the best preparations for the upcoming festival to commemorate 100 years of the Tra Vinh wax coconut speciality, slated to take place in late August. The event aims to elevate exposure of and honour Tra Vinh wax coconut, a distinct One Commune, One Product (OCOP) item that is popular to consumers and visitors, associated with preserving and promoting local culture and tourism.

In May, Tra Vinh People’s Committee convened a dialogue meeting with around 40 pivotal businesses running ventures in the province. With an open-minded and receptive spirit, the provincial leaders listened to businesses’ opinions about the difficulties they faced and proposed solutions to remove difficulties to facilitate project execution, striving to constantly improve the local business environment.

The conference is also expected to lay the fulcrum for new policies to be presented to propel business development.

At the conference, Le Van Han, Chairman of Tra Vinh People’s Committee, appreciated the exchange of opinions from businesses, thereby helping provincial leaders to grasp information about the firms’ difficulties in a timely manner, and have plans to resolve them effectively.

After the conference, Han directed relevant departments, sectors and the management at grassroots level to urgently study and come up with specific solutions to quickly and thoroughly remove the issues raised by firms.

Local departments, sectors and management bodies at local level are also urged to pay due heeds to and accompany firms in their production and business practice to be able to troubleshoot their problems quickly and efficiently.

For matters going beyond the province’s competency, businesses need to promptly propose solutions to the provincial management authority to be able to properly seek remedies from central management agencies.

“Tra Vinh will organise more regular dialogues to discuss, exchange opinions, identify bottlenecks in current policies, creating a favourable and transparent business environment for enterprises. The province hopes to receive more sharing, along with opinions, suggestions, and advice to push up investment progress, bolster production and business efficiency, contributing to driving local economic development,” said Han.

In March, Tra Vinh People’s Committee issued an investment promotion programme for 2024. Accordingly, the province shall focus on calling for investment to strongly develop the marine economy such as renewable energy, seaport logistics, agricultural and aquatic product processing, among others.

In light of the scheme, Tra Vinh aims to entice foreign investment on a selective basis, approaching top investors leading the supply chains to draw in key projects powered by cutting-edge technologies, especially projects in priority sectors and fields such as marine industry, aquaculture and seafood processing, marine tourism, shipbuilding, renewable energy, mechanical engineering, and the supporting industry.

Tra Vinh also calls for investment into building technical infrastructure for economic zones, industrial parks, and industrial clusters; focusing on exploiting existing industrial areas and completing infrastructure to create cleared land; and enhancing traffic connections as well as offering training to become well-prepared to receive new investment flow.

The province’s investment promotion orients towards ensuring regional connectivity, and creating breakthroughs with high spill-over effects to regional socioeconomic development aligned with the province’s set goals.

In the year to date, Tra Vinh has charmed six domestic and foreign projects, including five domestic projects with a total value surpassing $73 million, and one foreign project worth $2 million. The province is currently home to over 2,800 operating businesses with a total capital volume approximating $2.2 billion, recruiting more than 68,200 employees, including 40 foreign-invested businesses.

This year, Tra Vinh aims to entice investment to 32 projects across industry, education and training, trade, tourism, and social infrastructure. In addition, the province called for ventures into three self-reliant social housing projects, and added eight projects in renewable energy to the wish-list in 2024.

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