LONG AN INVESTMENT PROMOTION CONFERENCE 2016

CO-OPERATION - SUSTAINABLE DEVELOPMENT

Long An: New resilience in attracting investment

21/10/2016 - 14:58:09:PM

Long An plays the connecting role between HCMC with Mekong Delta provinces. With this advantage, Long An has a strategy to attract domestic and international investment; applying effective measures in investment promotion and improvement of investment environment for sustainably socio-economic development of the province.

"FRESH FRUIT" FROM INVESTMENT ENVIRONMENT

In the whole province, there are 28 industrial parks with an area of more than 10,216 ha, including 16 operating industrial parks with occupancy rate of above 61%; there are 32 industrial clusters with an area of 3,368ha with 14 operating industrial clusters with occupancy rate of about 88%.

In terms of domestic investment, from early this year, there were 974 newly established enterprises with a total registered capital of 10,484 billion dong (increased nearly 45% in terms of enterprises and increased 26.3% in terms of registered capital compared to the same period). So far, Long An had nearly 7,900 operating enterprises with a total registered capital of 189,008 billion dong. In 9 months of 2016, there were 300 domestic projects awarded certificate of investment registration with a total investment capital of 27,544 billion dong (increased 88 projects and increased 5,411billion dong of capital compared to the same period). Currently, total number of domestic investment projects registering for certificate of investment are 1,259 projects, total registered capital is 139,845 billion dong.

In terms of foreign direct investment (FDI), the attraction of foreign investment was more and more effective, currently, 37 countries and territories are directly investing in Long An, the projects mainly concentrate in industrial parks and clusters in the key economic districts such as: Duc Hoa, Ben Luc, Can Duoc, Can Giuoc, Tan An City. From early this year, the province granted 89 new FDI projects with the total registered capital of USD 542.7 million, increased 10 projects. The total number of FDI projects registering was 772 projects in the province so far with USD 5,121 million of capital. There were 459 projects in operation in the whole province, accounted for nearly 60% of total number of registered projects, and total implementation capital was about USD 3,001 million, accounted for 58.6% compared to the total registered capital. According to VCCI, currently, Long An is leading the Mekong Delta provinces in attracting foreign direct investment and ranked No. 12/63 provinces and cities of the country in attracting FDI capital, accounted for 65% of projects and nearly 35% of registered capital in Mekong Delta region (calculated to the end of July 2016).

According to Chairman of the provincial People's Committee, Tran Van Can, the reason that Long An effectively attracted domestic and international investment in the last time was that the provincial government had number of measures in reforming administrative procedures, creating the most favorable conditions so that investors can feel secure to invest in production and business.

According to statistics, in the field of FDI attraction into Long An, the processing and manufacturing industry dominates with 485 projects and USD 2.96 billion. Sapporo Vietnam Co., Ltd specializes in beer production in Viet Hoa – Duc Hoa Industrial Park is one of the successful processing and manufacturing projects in Long An. General Director of Sapporo Vietnam Co., Ltd, Mikio Masawaki said that Japanese Business Association in HCMC had 859 members which were companies with Japanese investment capital operating in Vietnam, including 19 investment enterprises in Long An with different fields. Thanks to the active support of Long An government through the simplification of administrative procedures, promptly supporting to resolve difficulties and problems so most of Japanese enterprises in Long An had certain developments.

 CREATION OF NEW RESILIENCE

With open investment mechanism and environment, available human resource and clean land and especially the provincial competitiveness index ranking in the top of the country for many years, currently, Long An is a quite attractive destination of many investors.

Director of Department of Planning and Investment – Nguyen Van Tieu said in the Investment Promotion Conference 2016 that Long An province encouraged all economic sectors to invest in 16 projects with the total expected investment of more than USD 7 billion and 6,300 billion dong on multiple different fields. They were the fields: transport, irrigation, clean water, clean energy as well as high scientific and technological advancements, biotechnological technology, etc. in order to serve the needs of industrial and agricultural development through various public-private partnership (PPP) forms, BOT contract, etc.   

Accordingly, Long An provincial People's Committee is committed to pay more attention to effective operating measures to create a favorable and healthy investment and business environment for enterprises in Long An. The levels, departments and people of Long An always accompany, share and create the most favorable conditions to the investors in Long An, considering success and victory of enterprises and investors as success and victory of the province.

Source: http://baolongan.vn/​