Tien Giang welcomes investors with open arms

With the ambition to become an ideal destination of the key southern economic zone, Tien Giang province has provided numerous perks to attract investors.

“Clean” land fund ready

According to Le Van Huong, Director of Tien Giang Planning and Investment Department, the province attracted three industrial foreign direct investment (FDI) projects capitalized at $35.5 million. These projects are modest compared to the great potential of the province, but they are viewed as encouraging steps in the midst of the economic downturn.

Tien Giang has every reason to implement a more ambitious plan for attracting FDI in 2010. They have aimed for some $80 million in FDI, double that of 2009.

The year 2010 is believed to be a time of strong recovery for the world economy during which businesses will encourage investment.

What special perks does Tien Giang have to attract investors? The “clean land fund” is cited by officials as a one of their best offerings. The infrastructure in many Tien Giang industrial zones has been completed, so the land has become “clean” and ready to welcome investors.

“With the clean land fund, investors will be able to shorten the time and cut down expenses to implement their investment projects,” reasoned Huong. “Tien Giang is determined to create the most favourable conditions for investors and offer them the best investment environment.”

In order to create attractive investment conditions, Tien Giang plans to kick off key infrastructure construction in 2010, including the My Loi Bridge project, the inter-provincial route Can Duoc-Cho Gao and site clearance for the Saigon-My Thuan railway project.

The My Loi Bridge plan capitalized at 1,600 billion dong, linking HCM City with Long An and Tien Giang provinces by spanning the Go Cong River. Construction will begin in the second quarter of 2010 and completed within three years.

According to Nguyen Thi Minh Thuy, Deputy Director of the Tien Giang Transport Department, the inter-provincial route project has already been partly completed and more site clearances are scheduled. Construction of the road section in Tien Giang is scheduled to begin in late 2010.

Tien Giang: Gateway to the Mekong Delta

Tran The Ngoc, Chairman of Tien Giang People’s Committee, emphasized that the province has huge potential in developing industrial zones and new urban areas, allowing more industries and services.

Tien Giang is clearly the ideal place for enterprises to relocate and reduce the high density of businesses in the nucleus of HCM City.

Provincial officials have decided to focus their strength on building the transportation network to connect regional provinces and cities. As the gateway of the Mekong Delta, linking the area with HCM City and the rest of the country, Tien Giang clearly has many advantages to lure investors.

Tien Giang is just 70 kilometres from HCM City, which is the hub of the Mekong Delta thanks to its favourable transport network.

In terms of road travel, it takes only 30 minutes to go from HCM City to Trung Luong on the HCM City-Trung Luong highway. The Trung Luong-My Thuan Highway project is now being built.

By water, the Tien River flows to the East Sea and Vam Co River borders Long An province. The international waterway from HCM City to Cambodia, about 28.5 kilometres long, is also being upgraded. If traveling by sea, the length from Go Con Dong to Ba Ria-Vung Tau is just 40 kilometres.

Tien Giang authorities plan to upgrade passage on the Tien and Soai Rap rivers in order to allow big tonnage ships. River ports will also be upgraded or constructed. My Tho Port will become capable of handling 500,000 tonnes per annum and will be able to receive 3,000-5,000 DWT ships.

“The authorities always offer the best conditions for us to operate and soon settle any difficulties. There are still problems in the infrastructure and transport system, but I don’t think these are big obstacles,” said Wu Hung Yu, Finance Director of Uni President Vietnam in Tien Giang province.

“A clean and healthy investment environment will surely attract investors,” he observed.

Tien Giang, which has called for project investments capitalized at 192 trillion dong, hopes to see 20-30 percent of the sum become realistic.

Tags: Tien Giang Province, Vietnam investment