Kien Giang attracts investors to 68 projects

Created 14 August 2018
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HCMC – The Mekong Delta province of Kien Giang has called on investors to develop 68 projects in the key fields of hi-tech agriculture, produce-processing, water supply and wastewater treatment, the government news website reported.

The Provincial People’s Committee held an investment promotion forum in HCMC on August 13, aimed at introducing the province’s potential and competitive edge, as well as its investment incentives.

The province’s vice chairwoman, Le Thi Minh Phung, told the participants that local economic growth has been relatively high in recent years. In 2017, Kien Giang's gross regional domestic product (GRDP) value was estimated at VND57.5 trillion (US$2.4 billion), and the province’s economic growth rate hit 7.39%, while its income per capita averaged out at US$1,865.

Phung said the province has, to date, attracted 680 projects, which cover roughly 32,500 hectares of land and has registered capital of over VND503.7 trillion (US$21.6 billion).

Besides this, the province has planned five industrial parks (IP) with a total area of over 730 hectares. These parks have adequate infrastructure facilities for transport, electricity, water, telecommunications and banks.

Many investors in the industries of footwear, wood, beer and seafood processing are keen on investing in two key strategic parks: the 250-hectare Thanh Loc IP in Chau Thanh District and the 140-hectare Thuan Yen IP in Ha Tien Town.

However, despite local potential and advantages, there is still plenty of room for development investment.

At the forum, the provincial government called on investors to develop projects involving clean agriculture production, hi-tech agriculture development, aquaculture and aquatic product processing, offshore fishing and post-fishing preservation technology.

Local authorities also briefed the participants on many projects involving environmental protection, wastewater treatment, water supply in remote areas, tourism development, trade, industrial park infrastructure and housing and urban development.

The province’s chairman, Pham Vu Hong, noted that the province is also seeking investments in the districts of Phu Quoc, Rach Gia, Chau Thanh and Hon Dat. Kien Giang boasts significant potential for developing maritime and ecological tourism, he stressed.

The provincial government has offered various investment incentives and has sped up administrative reform to make it easier for enterprises to operate there.

Notably, it takes only half a day to complete procedures for establishing a business. Other administrative procedures can be completed within 7 to 15 days.

Regarding incentives, investors are exempt from corporate income tax for the first four years after their business is established and then enjoy a 50% tax reduction for the next nine years.

At the forum, Tien Giang Investment, Trade and Tourism Promotion Center signed memorandums of understanding on investments in six projects involving waste and wastewater treatment, tourism, seaports, and goods transport, with total capital of more than VND7.4 trillion (US$318.5 million).

Source: ThesaigonTimes

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