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Long An promotes investments
The Long An People's Committee yesterday granted investment certificates to five projects worth a combined US$160 million at a workshop held here.
The workshop also included the signing of a memorandum of understanding between the provincial People's Committee and the Viet Nam Post and Telecommunications Group on upgrading the telecommunication system in Long An.
Long An has advantages over other provinces in the Cuu Long (Mekong) Delta region due to its abundant land for industrial development, which is expected to reach 30,000ha by 2020, large areas of raw material used for processing and plentiful labour resources, said the provincial People's Committee chairman Duong Quoc Xuan.
"Long An is also an ideal destination for investors due to its advantageous location close to HCM City, a long border with Cambodia, as well as the province's significant economic achievements in the past few years," he noted.
The province is home to 219 foreign-invested projects, capitalised at over $2.1 billion and specialising in such sectors as animal feed processing, wood processing and civil construction. Of the total FDI, 102 are operational while another 114 are under construction.
Speaking at the event, Thai Van Men, director of Tan Duc Investment JSC, agreed that Long An Province was a suitable location for his company to implement its project.
"Long An aims to attract more domestic and foreign investment in hopes of becoming a province with developed industry and services by 2020," the chairman emphasised.
To reach this goal, the province has promised to apply a "one-door" policy to help investors reduce administrative procedures.
In addition to attempting to provided investors with better socio-economic infrastructure such as transport and energy, the province will focus on upgrading the infrastructures of its industrial zones and complexes to make room for future large-scale projects.
It will also pay attention to human-resource development and investment promotion so as to further advertise its investment climate to domestic and foreign investors.
The province is awaiting the Ministry of Planning and Investment's approval for construction projects, including the establishment of the Binh Hiep Border Economic Zone, a hi-tech zone and a industrial and urban area complex in Thu Thua District.
During yesterday's conference, the province also published a list of 12 projects calling for investment in the period 2008-2010 with capital totalling $1.6 billion.
VNN
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