The 2018 Kien Giang Province investment promotion forum held in Jan was seen as an affirmative undertaking to establish the province’s potential, economic strengths and call for investment.
Pham Vu Hong, Chairman of the Kien Giang provincial People’s Committee, affirmed at the forum that his local government is dedicated to creating the most favourable business conditions and the highest preferential policy mechanisms to ensure future sustainable socio-economic development.
In giving an overview of the province’s agriculture, forestry, fisheries, mining and tourism sectors, he confirmed that local Government puts great emphasis on implementing strategic breakthroughs, economic restructure, business growth model renovation, raising productivity, efficiency and competitiveness.
Bearing in mind that sustainable economic strength means more business opportunities, Kien Giang Province is committed to guaranteeing administrative consistency and transparency to ensure investors and enterprises enjoy the provisions of Vietnamese law, said Hong.
Provincial administrative authorities spoke with investors and enterprises at the forum on future investment key projects in the manufacturing industry and agriculture sector.
Investors were particularly interested in India’s ION Exchange Ltd’s three major projects in the area, from the Cua Can Reservoir with US$71.2 million in investment capital, the Phu Quoc wastewater treatment plant with $119.7 million, to the Rach Gia wastewater treatment system with about $40 million.
In response, provincial authorities reaffirmed their priority for investment projects in the fields of waste treatment and environmental protection, as a key indication of sustainable development, in addition to well-established areas of hi-tech agriculture, forestry and aquaculture, manufacturing and tourism.
As such, Kien Giang Province will carry out six more environment-related investment projects worth about $199 million, while simultaneously working on nine industrial infrastructure projects at $280 million, 14 tourism projects at more than $185 million, six urban development projects at $77.9 million and eight agro-aquatic processing projects estimated at $40.9 million.
According to Dao Van Ho, Director of the Centre for Trade Promotion of Agriculture under the Ministry of Agriculture and Rural Development, total funding for Kien Giang Province’s 2018 investment promotion activities would be around $515,000, of which State budget support would account for $35,000, leaving the rest to provincial budget and social mobilisation.
According to the province’s Department of Industry and Trade, the 2017 provincial export turnover reached $470 million, focusing on agricultural and aquatic products, exceeding 17.5 per cent of the annual target and up by 34 per cent from 2016’s numbers
The forum’s attendants included more than 120 investors and business representatives from home and abroad, together with delegates from the Indian and Italian General Consulates in HCM City and the Management Board of HCM City’s Agricultural Hi-tech Park.
Kien Giang calls for investments for 68 projects
The projects are in tourism, environment, agro-forestry and fishery raising and processing, industry, industrial park technical infrastructure, housing and urban development.
At the event, delegates from Consulates General of India and Italy in Ho Chi Minh City, and domestic and foreign investors were updated information on the locality’s potential and strengths for economic development, as well as its policies on investment attraction, especially in tourism, agriculture development, industry and mining.
Chairman of the provincial People’s Committee Pham Vu Hong said the local authority has focused on implementing strategic breakthroughs and promoting economic restructuring in connection with renewing growth model.
Many measures have been taken to improve local competitiveness and investment climate, thus making it easy for enterprises’ production and business, he added.
Kien Giang’s priority fields for investment include hi-tech agriculture, agro-aquaculture-forestry sector, food and consumer goods production; mechanical and support industry, textiles and footwear; tourism, and waste treatment.
Enterprises’ representatives at the event signed commitments with Kien Giang province to invest in projects in agriculture, industry, environment, and energy with a total investment of VND7.95 trillion (US$353.7 million).
Chairman Hong affirmed that Kien Giang will create best possible conditions for enterprises to implement the projects, thus ensuring the locality’s sustainable development in the future.
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