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Tien Giang's Industrial Parks: A Magnet for Investment

Thanks to efforts in removing difficulties and obstacles, reforming administrative procedures, and improving the investment and business environment, the Mekong Delta province of Tien Giang has achieved many positive results in attracting investment to industrial parks (IPs), and creating jobs and incomes for workers.

Tien Giang has achieved many positive results in attracting investment to industrial parks (IPs)
Tien Giang has achieved many positive results in attracting investment to industrial parks (IPs)

According to the head of the management board of industrial parks in the province Nguyen Nhat Truong, Tien Giang has been allowed by the Prime Minister to build seven IPs with a total area of 2,083 hectares. To date, three IPs of My Tho, Tan Huong, and Long Giang have been implemented.

As of late July, Tien Giang had attracted 110 investment projects, including 81 foreign-invested ones totaling 2.4 billion USD, and 29 domestic ones worth over 4.8 trillion VND (201 million USD). More than 88,000 laborers are working in these IPs.

In the past two quarters, the combined revenue of the FDI enterprises in the province was over 1.83 billion USD, and that of domestic ones was more than 3.2 trillion VND. The total export turnover of businesses in industrial zones in the province topped more than 1.6 billion USD.

Duong Chan Vu, Deputy General Director of Long Giang Industrial Park Development Co., Ltd. said that since its establishment in 2007, the company has invested 100 million USD in developing modern infrastructure for the whole industrial zone. It has attracted 56 enterprises from China, Japan, the Republic of Korea, and Malaysia to invest in building factories with a total capital of more than 1.6 billion USD. Annually, the zone contributes more than 2 billion USD to Tien Giang's GRDP, creating jobs for about 25,000 workers.

Chairman of the provincial People's Committee Nguyen Van Vinh said that to remove difficulties and obstacles for businesses, the committee has established a team to appraise non-state budget investment projects in the province. The team is responsible for reviewing and appraising projects in the area to transfer to relevant agencies for settlement by regulations; addressing recommendations, removing difficulties and obstacles, and creating favorable conditions for investors to implement their projects.

In addition, the provincial People's Committee has assigned the responsibility to the management board to regularly monitor the production and investment situation of investors at IPs, to promptly support and help them solve difficulties.

On the other hand, the committee has also assigned the Department of Planning and Investment to advise it to balance the budget capital to invest in improving the infrastructure linked to industrial zones and create favorable conditions for investment attraction.



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