Investors won’t have to “knock at two doors” in Tien Giang

CA - Leaders of Tien Giang Province committed at the conference on promoting investment in the province held in My Tho City on January 29, 2010 to create the most favorable conditions for investors to do business in the province.

They say that in Tien Giang, a “one-stop shop” mechanism means investors will not have to knock at more than one door for assistance with administrative procedures.

Tien Giang gears up to attract investors

President Nguyen Minh Triet, who attended the conference, pointed out big opportunities to attract investment that Tien Giang needs to grab. The commercial hub of HCM City and Binh Duong province both have become nearly overloaded and investors are now seeking new land for investment projects. Hope this means golden opportunities for provinces such as Tien Giang and Long An.

Tien Giang is clearly located in an advantageous position suitable for enterprises to set up satellite factories or workshops after they have main bases in HCM City or Binh Duong province.

President Triet said at the conference that despite the global economic crisis, Vietnam still obtained a high economic growth rate in 2009.

“However, in order to narrow the gap between Vietnam and the world, Vietnam should not be happy with an annual growth rate of 6.5 percent as it is currently. We have to gear up to obtain a growth rate of 14-17 percent per annum in the upcoming years,” Triet said

And in order to obtain such a high growth rate, localities need to achieve a growth rate of 20 percent. This high rate would not be obtained without the support of investors and a determination to boost local economies of local authorities.

Nguyen Thanh Thuan Phong, the commercial director of Five Stars chemical company, agrees that Tien Giang is now an alternative destination for investors, saying that Five Stars is learning to understand the investment environment in Tien Giang because it is planning to set up a factory at Tan Huong Industrial Zone there.

Phong said that Five Stars has a factory in district 9 in HCM City already, but it has been facing difficulties in production expansion. At first, the company planned to lease land in Long An province, but after the HCM City-Trung Luong avenue was kicked off, Five Stars decided to head for Tien Giang.

“The distance will be longer, but travel time will be shortened. Besides, we expect to enjoy other benefits. More importantly, we can see opportunities to expand our business here, because of the land available,“ he said.

Tien Giang needs to develop different industries and services

Tien Giang needs to find a suitable way to develop its economy, especially, to focus on developing the products of the province’s advantages, such as rice and fruit production, developing processing and shipbuilding industries.

Deputy prime minister Hoang Trung Hai said that Tien Giang also needs to pay attention to develop other different industries and services which can support each other.

Speaking at the conference, Hai said that the investment promotion conference was organized at a timely moment. The participation of 500 delegates who filled the conference hall showed that the business health is still very good and they are ready to expand production

He also thinks that Tien Giang has advantages in agriculture and it also should develop that serve agriculture. In particular, Tien Giang has every reason to develop processing industry, while the average growth rate of the industry in the whole country is just 22 percent.

Deputy minister of planning and investment Dang Huy Dong urged Tien Giang to apply stronger measures to attract foreign direct investment and boost domestic investment.

“There are two things Tien Giang needs to do is to reform the administrative procedures and renovate the works relating to site clearance,” Dong said.