Kien Giang calls for investment in 64 projects

The event is hoped to help attract more domestic and foreign investment to the locality in the coming time.

Accordingly, the locality gives priority to luring investment for projects of clean agricultural production, hi-tech agriculture development; aquaculture and aquatic product processing; offshore fishing and post-fishing preservation technology.

Local authorities also briefed participants of many projects related to environmental protection; wastewater treatment; water supply in remote areas; tourism development; trading; industrial park technical infrastructure; and housing and urban development.

Pham Vu Hong, Vice Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee, said the locality is calling for investment to projects of waste and wastewater treatment, water supply, tourism and hi-tech agriculture development in the districts of Phu Quoc, Rach Ra, Chau Thanh and Hon Dat.

Kien Giang boasts great potential for developing maritime and ecological tourism, he stressed.

The locality has planned five industrial parks (IP) with a total area of over 730 ha, including the two key strategic parks - the 100-ha Thanh Loc IP in Chau Thanh district with a total investment of over VND1 trillion (US$42.65 million) and the 140-ha Thuan Yen IP in Ha Tien district, with VND1.2 trillion (nearly US$51.2 million).

The Thanh Loc IP focuses on processing farm produce and food, producing consumer products; mechanical products; handicrafts for export and hi-tech industrial products. Meanwhile, the Thuan Yen IP is for projects related to electronics assembling, textiles and footwear production for export, consumer goods, construction materials, and handicrafts.

The provincial Party Committee and People’s Committee have given many incentives and accelerated administrative reform to make it easier for enterprises and investors to operate in the locality.

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

Enterprises investing in Kien Giang are exempted from corporate income tax for the first four years after their establishment and a 50% reduction for the next nine years.

Kien Giang aims to mobilise US$9.5 billion for socio-economic development by 2020 and US$45 billion by 2030.

It also targets becoming a well-developed locality and a transportation and tourism service destination in the Mekong Delta, and a development hub of the southern key economic region.

The province aims for an average Gross Regional Domestic Product (GRDP) of 7.5-8% per year by 2020.

As of June this year, the locality attracted 41 foreign investment projects from 19 countries and territories with a total registered capital of US$1.44 billion, of which 37% has been disbursed.