Tien Giang attractive to both domestic and foreign investors

Tien Giang province is becoming increasingly attractive to domestic and foreign investors (Illustrative photo: VNA)

Tien Giang - As a gateway linking the Mekong Delta, Ho Chi Minh City, and the southeastern region, Tien Giang province with its role as an important part of the southern key economic region is becoming increasingly attractive to domestic and foreign investors.

Capital flows from non-State economic sectors play an important role in local socio-economic development. The locality has issued a number of policies to draw investment, upgrade infrastructure and stay ready to capitalise on new investment opportunities.

It also has modern roads and maritime routes, as well as an abundant workforce with over 1.13 million at the working age.

The Prime Minister has given the green light to the zoning of seven local industrial parks covering a total area of over 2,000ha in Tien Giang. The province is also home to 27 industrial clusters under planning, four of them now operational, and over 5,900 operating companies, 454 of which are new.

Tien Giang drew 24 new projects worth over 9.5 trillion VND (413 million USD) in seven months of this year, raising the total revenue to more than 10.3 trillion VND - 93.6 percent of the same period last year.

Vice Chairman of the provincial People’s Committee Pham Anh Tuan said Tien Giang has so far issued nearly 240 documents to step up administrative reform in the fields of construction, land, investment, business and health care, and set up a team to approve projects using non-State capital.

According to the provincial Department of Planning and Investment, authorities handled 99.93 percent of investment procedures ahead of schedule and 0.06 percent of others on schedule in seven months of this year.

The province also issued a resolution on urban-economic development for three regions till 2020 with orientations to 2030.

The eastern region, including Go Cong township, Go Cong Dong and Go Cong Tay districts, holds the potential for maritime economy, shipbuilding, seaports, maritime transportation, processing of aquatic products, tourism, and fishing logistics services.

The western region, including Cai Lay township, districts of Cai Lay, Cai Be and Tan Phuoc, is strong in food production, especially fruits in combination with farm produce processing and services, and tourism.

The central region, with My Tho city, Chau Thanh and Cho Gao districts, plays an important role in promoting socio-economic development and integration with the southern key economic region, urban areas of Ho Chi Minh City and the Mekong Delta.

Tuan said the province prioritises competitive projects using advanced pollution treatment technology.

Between now and the year’s end, as well as years to come, Tien Giang will lure in projects in clean industry with high added value, mostly hi-tech aquaculture and agriculture in Tan Phuoc, Chau Thanh, Tan Phu Dong districts.

It will also pitch for investment in waterway tourism in Cai Be district, sea tourism in Go Cong Dong and Tan Phu Dong districts, ecological and spiritual tourism in Tan Phuoc district, finance-banking in My Tho city, and logistics in Go Cong Dong district.

Acting Director of the provincial Department of Planning and Investment Nguyen Dinh Thong said Tien Giang has set the goal of attracting 30 projects worth over 11.1 trillion VND into three key economic-urban regions.

Attention will be paid for supporting production and trade, trademark building, consumption expansion, and especially facilitating start-ups amid the COVID-19 pandemic.

In the first half of this year, the public investment disbursement reached over 77 percent - the second highest rate nationwide. The figure is expected to hit 100 percent in late November.

This year, Tien Giang has over 5.71 trillion VND in public investment capital, up 37.4 percent year-on-year.

Chairman of the Management Board of the Dong Giao Foodstuff Export JSC (DOVECO) Dinh Cao Khue said the company plans to build a plant to preserve and package fresh fruits for export, as well as a processing plant in My Phuoc commune, Tan Phuoc district, Tien Giang province with a designed annual capacity of around 200,000 tonnes of fresh fruits and 150,000 processed products.