Tien Giang emerges as new investment destination

CA - The Mekong Delta province of Tien Giang is capturing strong attention from investors, local and foreign alike, with trillions of Vietnam dong pledged by investors at a conference there on Friday.

The provincial government awarded licenses to nine projects worth VND3.2 trillion, or nearly US$180 million, and signed 15 other memorandums of Vị trí đặt quảng cáounderstanding with investors, who pledged to pour VND10.8 trillion more. The results were announced at the first-ever investment promotion conference in Tien Giang, some 50km southwest of HCMC, which drew the participation of senior leaders and nearly 1,000 entrepreneurs.

Among the new investors are HCMC-based Khang Thong Construction, Trading, Service Joint Stock Company, which will spend VND1.1 trillion developing Binh Dong Industrial Park in the province, and Dai Ngan Co., Ltd., which will build a new urban center worth more than VND740 billion.

Hong Kong-based Golden Resources Development International Ltd. obtained an investment certificate for a tap water distribution project worth VND368 billion for the eastern part of Tien Giang Province. This company has invested in several projects in the country and Tien Giang Province over the past 20 years.

Tran The Ngoc, chairman of the province, noted that the development of industrial park infrastructure, new urban centers, tourism, ports, services and manufacturing are areas of great potential in the province.

At the conference, graced by State President Nguyen Minh Triet and Deputy Prime Minister Hoang Trung Hai, investors also showed their keen interest in these sectors, as manifested in memorandums signed at the event.

The would-be investor Hoang Quan Mekong, for example, has plans to develop infrastructure of Tan Phuoc II industrial park worth VND1.2 trillion, while Tien Giang Industrial Park Infrastructure Development Joint Stock Co. has plans to pour VND1.5 trillion to develop infrastructure of some other IPs in eastern Tien Giang Province.

There were also four memorandums in the housing development sector, with Tien Giang Construction and Investment Joint Stock Co. alone pledging to develop Tan Phuoc villa project worth 1.05 trillion.

President Nguyen Minh Triet in addressing the event called on the province to provide an open business climate, and urged investors to tap advantages of the promising land.

Meanwhile, Deputy PM Hoang Trung Hai recommended the southern province to offer more incentives for investors in terms of land allocation, services and qualified labor force.

Tien Giang is becoming a hotspot for investors given the many infrastructure projects being developed that will highly benefit the province and thus investors.

The agriculture-based locality has the HCMC - Trung Luong highway project under construction. Once opened to traffic this Wednesday, the highway will shorten the distance between HCMC and the Mekong Delta province, thus reducing transport costs while boosting trade between the two localities.