Intellasia East Asia News – Long An promotes investment in border economic zone

The Cuu Long (Mekong) Delta province of Long An will work to further attract investment in its border economic zone, according to the latter’s management board.

The Long An Border Gate Economic Zone on the Vietnam-Cambodia border has an area of over 13,080ha straddling Kien Tuong Town and Moc Hoa and Vinh Hung districts.

It includes the Binh Hiep International Border Gate and Long Khot Sub-Border Gate, Binh Hiep Internatioanl Border Gate Industrial Park, a trade and service area, and an area for high-tech agriculture.

Its strategic location makes the zone an attractive investment destination, which could help promote the locality and region’s socio-economic development.

Nguyen Thanh Thanh, head of the province’s economic zones, said the zone serves as a bridge between HCM City and 12 provinces in the delta, and a trade hub linking the Greater Mekong Sub-region.

It has far attracted two FDI projects a $65 million apparel project by Tainan Enterprises Co., Ltd, and a $10 million project by Victory International Co., Ltd for producing high-end fashion shoes for women and also two Vietnamese projects, he said.

The Management Board of Long An’s Economic Zones said a lack of a convenient transport system is keeping away investment, and wanted authorities to rectify that.

Chair of the provincial People’s Committee, Tran Van Can, said Long An would push forward with administrative reform and creating a favourable business environment to attract investment in industrial parks and economic zones.

The province has for long been listed among the top 10 localities in the provincial competitiveness index (PCI) rankings and public administrative reform index (PAR INDEX) rankings, proving it has taken effective measures to improve administrative procedures and serve the public and businesses, he said.

In addition, Long An’s leaders pay attention to taking care of investors, he said, adding that the provincial authorities often hold dialogues with investors to listen to their concerns and address any problems.

The province currently focuses on attracting investment in a number of fields such as high-tech and supporting industries, mechanical engineering, electronic components, processing, sustainable industry, renewable energy, urban development and real estate, and others.

Thanh said to encourage businesses to invest in the border economic zone the province offers many attractive incentives such as [a low] 10 per cent corporate income tax for 15 years, or waiver for the first four years and 50 per cent reduction of corporate income tax for the next nine years for certain projects.

Chen Ponien, human resources director of Victory International (Vietnam) Co., Ltd, said the local government offers optimal conditions for his company.

The COVID-19 pandemic has been controlled, and his company has resumed normal operations with around 1,200 workers, he said.

If nothing changes, it would invest in building one more plant as planned and increase the number of workers to 2,000-2,500.

The plan was postponed due to the pandemic, he said.

Eric Chen, director of Tainan Enterprises (Vietnam) Co., Ltd, said the company has resumed production and has orders for until the end of the first quarter of 2022.

If there is enough human resources supply and convenient infrastructure and transport system, it would definitely expand its operations, he added.

bizhub.vn/news/long-an-promotes-investment-in-border-economic-zone_328837.html

 

Category: Business, Vietnam


Print This Post

Source link