With the dynamic leadership of the local authorities, Dong Thap province has become one of the most popular investment destinations in the Mekong Delta region. Deputy Director of the Dong Thap Department of Planning and Investment Ngo Hong Chieu spoke with the Vietnam Business Forum Magazine (VBF) about provincial investment results and its policies to lure more investors to pour their money into the province.
* Could you please tell us about provincial investment results, particularly FDI capital?
In order to serve growth objective and local economic restructuring, investment attraction is seen as one of top priorities of Dong Thap province. To attract investors, the province always focuses on promoting infrastructure investment, training human resources, and implementing administrative procedure reform.
With these efforts, Dong Thap province has achieved encouraging results in investment attraction. In the year to May 20, the province drew nine projects with a total registered investment capital of 642 billion VND, including eight domestic investment projects (431 billion VND) and one foreign direct investment (FDI) project (211 billion VND). So far, Dong Thap has attracted a total of 209 investment projects with a total registered capital of 21 trillion VND (1 billion USD), including 20 FDI projects (1,655.42 billion VND), invested by investors from the United States, Singapore, China, the Republic of Korea, the Netherlands, Singapore, France and Thailand. They have mainly invested in fish and animal feed production, footwear exports and rice processing.
Dong Thap province is strong in agriculture. In the meantime, FDI projects often require highly qualified and skilled human resources. Therefore, to catch the attention of foreign investors in the coming time, the province will continue to improve the investment environment by enhancing the quality of human resource and encouraging the development of support services.
*In the Mekong Delta, many provinces have fast-growing economies like Can Tho and Kien Giang. What has Dong Thap province done to catch investors’ attention? To ensure a fair investment environment, how has the province selected investors?
Dong Thap’s local authority is committed to creating the greatest support for investors including quick response to potential investors’ requirements.
Currently, the province is calling for investment in its
prioritised projects. While supporting investors to study local conditions, we proactively collaborate with Vietnamese diplomatic missions, business associations and investment promotion agency to organise investment trade promotion programmes to some countries and territories such as Japan , the Republic of Korea , Taiwan and China . We also strengthen relationships with overseas Vietnamese and foreign investors doing business in the province to introduce investment opportunities to other investors.
In the coming time, the province will give priority to high-tech agriculture and reproduce high-yield, high-quality crop and livestock species. In industry, we will encourage to develop supporting industries, prioritise infrastructure construction and tourism projects
*Investors usually show their concerns over land fund, ground clearance situation, traffic system and other conditions when they select their investment locations. How has Dong Thap province answered their concerns?
Land for investment projects is one of the biggest issues when investors go to Dong Thap province. Being aware of this, the province now has three out of eight large-scaled industrial zones in operation and 14 out of 31 small-scaled industrial complexes in operation. If investors want to locate their projects in these industrial zones, local governments will support them to choose the most suitable sites for their projects.
Investment incentives are also of interest when businesses invest in Dong Thap. Except for Cao Lanh and Sa Dec cities, investors in 10 other administrative units are offered preferential investment treatments. They will enjoy a preferential corporate income tax of 10 – 20 percent in 10-15 years; tax free in 2-4 years, and a 50 percent reduction in corporate income tax in the next 4-9 years. They are also free from import taxes when they import machines and equipment serving for their investment projects. They are also offered incentives when they invest in agriculture and rural development.
With upgraded Cao Lanh and Sa Dec inland ports for ships of 5,000 DWT and container barges of 128 TEUs, investors will have no problem in transporting equipment or materials to their project work sites or delivering their goods to other countries.-VNA
Dong Thap becomes an attractive investment destination in Mekong delta region Related image(s)
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