Mekong Delta becomes investment magnet
07 Dec 20 Viet Nam News Source HCM CITY — The Cửu Long (Mekong) Delta has recently attracted many large projects worth trillions to tens of trillions of đồng, which are promoting economic development there.Bạc Liêu Province is a bright spot this year with a number of domestic and foreign enterprises pouring money into long-term projects.
It has approved or granted licenses to 25 domestic projects with a total investment of VNĐ17.71 trillion (US$766.24 million) in the first 10 months, an eight-fold surge year-on-year.
The province has also granted investment decision to a $4 billion Singapore-invested liquefied natural gas-fired (LNG) power plant with a capacity of 3,200MW this year, the largest foreign project in the delta to date.
The investor is completing the necessary procedures for a power purchase agreement with Vietnam Electricity. Installation of the first 750MWs turbine is expected to start in early 2021.
Provincial authorities hope the plant will create thousands of jobs, contribute trillions of đồng to the treasury and be a driving force for socio-economic development.
In Long An Province, three other FDI projects were licensed in October with a total capital of $17.24 million, while additional investments of $445.86 million were made to 10 existing projects.
Since the beginning of 2020 the province has issued investment certificates for 67 FDI projects totally worth $264.14 million.
Most are in the manufacturing sector, including supporting industries, medical equipment, electronic components, and consumer goods and in the warehouse and logistics services sector.
According to the Ministry of Planning and Investment, the key factors that make the delta increasingly attractive to investors are its agricultural potential, improved technical and economic infrastructure and local efforts to improve the investment and business environment.
Localities there have also made efforts to acquire more unencumbered lands to benefit incoming investors.
In Cà Mau Province, there is not much land left in the 235ha Khánh An Industrial Park in U Minh District while the demand remains fairly high.
Faced with the situation, the park has called on the provincial People's Committee to consider expanding it.
The People's Committee has also assigned the provincial Land Development Centre to make plans to clear 50ha of land around the Hòa Trung Industrial Park in Cái Nước District to attract investors.
Nguyễn Đình Thông, acting director of the Tiền Giang Province Department of Planning and Investment, told Sài Gòn Giải Phóng newspaper that the province seeks to attract investment through the comprehensive development of an industrial zone each in Tân Phước District and Gò Công Town.
"[It] will also speed up development of urban projects in major urban centres, with a priority on developing tourism infrastructure to take advantage of the Tiền River's tourism potential.
"It will concentrate resources and lands on developing agricultural processing projects and agriculture using advanced technologies. In 2021 Tiền Giang will strive to attract investment of more than VNĐ17 trillion," he said. — VNS