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24/07/2021 - 21:29

Long An - "bright spot" in attracting investment

The infrastructure investment strategy, many reasonable support policies and the well exploitation of potentials and strengths help Long An become a "bright spot" in attracting investment in the region, especially attracting foreign direct investment (FDI).

Chairman of the Provincial People's Committee - Nguyen Van Ut receives and works with the Korea International Cooperation Agency and Korean investors during the survey of key projects in Can Giuoc (Illustrated photo)

Chairman of the Provincial People's Committee - Nguyen Van Ut receives and works with the Korea International Cooperation Agency and Korean investors during the survey of key projects in Can Giuoc (Illustrated photo) 

“Good land” for investors 

Compared to geographical location, Long An has many advantages in attracting investment. The province is the gateway of the Mekong Delta region, bordering Ho Chi Minh City, connecting the SouthEast and the Southwest. The province has a relatively large area of industrial land that can be leased, a convenient sea and road infrastructure system, many national highways and freeways passing through the area. On the other hand, the province always focuses on upgrading traffic routes to serve the local socio-economic development as well as to attract investment. In addition, the province has many policies to support and accompany businesses, considering the difficulties of enterprises as difficulties of the province. Along with a reasonable investment attraction strategy, the province has become a bright spot, a "good land" for investors to "invest". 

According to a representative of Tan Tao Investment and Industry Joint Stock Company (the investor of Tan Duc Industrial Park, Duc Hoa district), Long An has many favorable conditions for businesses to invest and operate. The province always supports and promptly removes difficulties and problems for businesses. Thanks to that, the unit is assured to develop production. Currently, the company implements 4 component projects in the area. The first is Tan Duc Industrial Park (IP) with a total area of 545 hectares, divided into 2 phases. Up to now, the IP has attracted about 200 secondary enterprises (124 FDI enterprises). The second is Tan Duc Resettlement Area with an area of 74 hectares. The third is the Ecity Tan Duc urban area and the last is the entertainment service center. The work of attracting investment into the industrial park is always focused, the occupancy rate is quite high. Enterprises want the province to continue to support, accompany and create conditions for peace of mind in operation and production.

Operating in Ben Luc district, Nguyen Khoi Toan Loc Co., Ltd (100 percent of capital from Taiwan) always receives timely support from provincial and local leaders. This helps the company feel secure to develop production. Director of Finance Nguyen Khoi Toan Loc Co., Ltd - SuJhiHan said: “After surveying and choosing Long An as an investment destination, we realized that this was the right decision. Long An has a favorable geographical position, leaders of provinces and districts always create the best conditions for businesses to operate. After about 5 years of operation (February 2016), in our opinion, Long An is really a "good land" for businesses with very good policies and incentives. Currently, the situation of the Covid-19 epidemic has greatly affected, but the company has been proactive from the beginning, maintaining a relatively stable order volume. The company is investing in 2 projects with a total capital of 20 million USD, the main business is manufacturing shoe soles with about 800 workers. 

Bright spot to attract FDI

According to Director of the Department of Planning and Investment - Huynh Van Son, nearly 30 years since Long An was licensed by the Ministry of Planning and Investment for the first FDI project, the province has really become a nationwide "bright spot" in terms of investment attraction, especially FDI. 

In comparison, since the 2000s, FDI investors really started to pay attention to Long An, in the period 2005-2006, the province attracted nearly 100 FDI projects with a total registered capital of 400 million USD. These are the bricks that lay a solid foundation for the province in attracting FDI in the future. During the development process, the province's investment attraction has increased sharply, especially FDI investors have constantly increased in both the number of projects and the amount of capital. In 2020, the number of FDI projects registered in the province is more than 1,000 projects, with a total registered capital of nearly 6.5 billion USD, with more than 50 percent of projects coming into operation with a total implemented capital of more than 3.6 billion USD.

Investment attraction in the first 6 months of 2021 in the province achieved encouraging numbers despite the complicated developments of the Covid-19 epidemic. This is also an important milestone for Long An when the province is always in the top of the country in terms of FDI attraction.

Nguyen Khoi Toan Loc Co., Ltd (100 percent capital from Taiwan) invested in 2 projects in Ben Luc district with a total capital of 20 million USD and created jobs for 800 workers (Illustrated photo)

Nguyen Khoi Toan Loc Co., Ltd (100 percent capital from Taiwan) invested in 2 projects in Ben Luc district with a total capital of 20 million USD and created jobs for 800 workers (Illustrated photo)

In the first 6 months of 2021, the province granted investment certificates to 30 FDI projects (total registered capital of 3,229.6 million USD), adjusted to increase capital for 20 projects with additional investment capital of 74.65 million USD. These FDI projects come from 40 countries and territories, in which, Taiwan ranks first in both the number of projects and registered capital, followed by the following countries: Korea, Japan, Singapore, Thailand, The United States, etc. These FDI projects are concentrated in the key economic regions of the province, bordering Ho Chi Minh City such as Duc Hoa, Ben Luc, Can Duoc, Can Giuoc. Up to now, the total number of registered FDI projects in the province is 1,115 projects, the total registered capital is more than 9.3 billion USD, of which, 588 projects have been put into operation, accounting for 52.7 percent of the total number of registered projects. with a total implemented capital of more than 3.6 billion USD, reaching 38.9 percent of the total registered capital.

With the above results, for many years, Long An has always been one of the leading provinces in the Mekong Delta and among the top localities attracting the most FDI in the country. Thereby, proving that Long An is having a strong transformation, a dynamic, active and proactive locality in international exchange and cooperation activities and seeking development opportunities./.

Long An currently has 2,088 licensed domestic investment projects with a total registered capital of 249,117.6 billion. The total number of registered FDI projects in the province is 1,115 projects, with a total registered capital of more than 9.3 billion USD, 588 projects have been put into operation, accounting for 52.7 percent of total registered projects, total capital made more than 3.6 billion USD.

By Thanh My – Translated by Duc Tam

Source: https://baolongan.vn/long-an-diem-sang-trong-thu-hut-dau-tu-a118193.html

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