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PM tells Tien Giang to remove bottlenecks to fuel growth
By Trung Chanh
Thursday,  Aug 9, 2018,19:39 (GMT+7)

PM tells Tien Giang to remove bottlenecks to fuel growth

By Trung Chanh

Prime Minister Nguyen Xuan Phuc speaks at the investment promotion conference in Tien Giang Province on August 9 – PHOTO: VGP

TIEN GIANG – The Mekong Delta province of Tien Giang should remove obstacles and shortcomings to attract large investments, thereby creating momentum for its fast and sustainable growth and becoming a driving force in the Mekong Delta region, said Prime Minister Nguyen Xuan Phuc at an investment promotion conference today, August 9.

Themed, “Tien Giang: Investment Opportunities---Development Cooperation,” the conference in the province attracted more than 500 delegates, including leaders of the Government, ministries and other central agencies; representatives of international organizations; and local and international investors.

The event aimed to introduce local potential and strengths, creating an opportunity for investors to meet provincial leaders and representatives of ministries and central agencies and exchange information on the advantages; challenges; and measures to mobilize resources and enhance investment, cooperation, trade and tourism in the province.

Le Van Huong, chairman of the provincial People’s Committee, called on investors to develop 19 projects related to industrial park infrastructure, industrial zones, high-tech agriculture, processing industries, tourism and trade infrastructure, worth more than VND16 trillion (US$687.8 million).

The local authorities have selected these projects carefully to guarantee their effectiveness and feasibility, said Huong. Notably, the provincial government has offered potential investors specific incentives and land prices for each project.

Tien Giang acts as a gateway for HCMC to the Mekong Delta region and the Greater Mekong Subregion, thanks to major routes, such as national highways 1A, 30, 50 and 60 and the HCMC-Trung Luong Expressway.

The province is known as “the kingdom of fruits,” as it is home to the country’s largest fruit farming area of more than 73,000 hectares. It receives abundant supplies of food, fruit and fish from other Mekong Delta provinces.

The provincial government has focused on investments in high-tech agriculture, commerce, services and processing and supporting industries. The province is also striving to develop product supply and consumption chains.

Regarding tourism, the local government expects investors to develop high-end hotels and tourism destinations.

Huong stressed that Tien Giang has been working hard to improve its business environment, reform its administrative procedures and offer active support to firms and investors.

Tran Van Dung, director of the provincial Department of Planning and Investment, said that in addition to promoting the local potential and advantages, the local government has gradually enhanced the quality of its master plans to prepare sound visions and strategies, thereby creating a list of feasible projects.

These plans are expected to help investors map out their investment and business plans effectively, he added.

Speaking at the conference, PM Phuc noted that Tien Giang has a favorable connection with HCMC and runs for some 120 kilometers along the northern bank of the Tien River. The province is located along the HCMC-Trung Luong Expressway, and many other national roads are expected to cut through the province.

In addition, Tien Giang has a special waterway ecosystem with abundant water resources and traffic connectivity. Therefore, the province can be regarded as the “façade” of the Mekong Delta region.

The prime minister spoke highly of the direct investment wave of VND16 trillion to be injected into the province in the coming period, considering the province is ready to make breakthroughs in economic growth and become the driving force in the region.

The government leader expected the province to attract more large-scale businesses in the fields of industry, services and agriculture, especially the fruit-processing industry.

Tien Giang has many factors in its favor, allowing it to emerge as a super satellite of HCMC, so the province should be focused on realizing its visions effectively, he said.

The prime minister asked the provincial government to actively provide capital resources, particularly preferential capital, to businesses.

The province should further deal with the obstacles in administrative procedures to create more opportunities for enterprises to gain access to financial resources and to reduce expenditures.

Currently, the province is home to some 4,800 companies, with some 700 new firms being launched every year, a sharp increase from the 165 companies recorded in 1995. In the first half of this year, more than VND7.2 trillion (US$309 million) was poured into 18 new investment projects and three existing ones, up threefold from the previous year.

At the conference, the local authorities issued in-principle investment approvals to 22 projects and granted approval for feasibility studies for nine others. These projects, which require a total investment of more than VND16 trillion, will be executed later this year and next year.

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