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Kien Giang is a bright spot to attract investment
Date: 8/29/2021 11:36:52 AM
Kien Giang is the focus of investment attraction and ranks second in the Mekong Delta in terms of budget revenue with nearly 12 trillion VND/year.

Comprehensive and non-stop growth. That is one of the very clear feelings about  Kien Giang  in the past 10 years, especially in the period of 2016 - 2020. With innovative thinking and vision, enterprising, the Party Committee and the government of Kien province Giang has brought the land as a miniature Vietnam to rise strongly, becoming a "bright spot" in the four key economic provinces of the Mekong Delta. With a positively shifting economic structure suitable to local actual conditions, better exploiting areas with potential advantages, attracting many investors and mobilizing many resources for development investment. .

With the cross-thinking axis of sustainable development, Kien Giang has implemented economic restructuring in the right direction, gradually reducing the proportion of agriculture - forestry - fishery from 40.39% to 31.54%; the proportion of industry - construction increased from 18.11% to 20.06%; services increased from 41.5% to 48.4%. Up to now, Kien Giang has become a province with an economic structure of services, tourism, construction industry and high quality agriculture; is a regional and international high-quality tourism center, one of the economic growth poles of the Mekong Delta with synchronous socio-economic and technical infrastructure; improvement of people’s material and spiritual life, sustainable poverty reduction... has basically been completed.

Economic sectors continue to be facilitated for development. The investment and business environment has been positively improved. The movement of entrepreneurship, innovation and business development is quite active. The private economy has grown strongly, the number of newly established enterprises has increased quite high and now there are nearly 11,000 private enterprises, which are an important driving force of the economy. The cooperative and cooperative economy has developed quite well and diversified forms of association between cooperatives and enterprises along the value chain from production, processing, to consumption (the province currently has 475 cooperatives). , an increase of 6.3% of cooperatives compared to 2019).

Developing a trading system, diversifying service industries to exploit potentials and strengths of the marine economy, especially tourism services. Despite the Covid-19 epidemic in 2020, the total retail sales of goods and services reached VND 82,705 billion, an increase of nearly 5% compared to 2019. Export turnover has had a positive change every year reaching over 700 million USD; The market for agricultural and aquatic products for export is increasingly expanding. The field of agriculture - forestry - fishery has an average growth rate of 2.5% per year. Food production in 2020 will reach 4.3 million tons, with high-quality rice accounting for 72%.

- How is Kien Giang implementing strategic breakthroughs?

One of the breakthrough strategic tasks in Kien Giang is to step up the mobilization of investment capital sources for the construction of socio-economic infrastructure. Implement public investment restructuring, reduce spread investment, focus on key industries and fields. Mobilization of social investment capital reached VND 225,681 billion, accounting for 76.3% of the province’s GRDP and an average annual growth rate of 6.19%. Accordingly, the size of the economy increased sharply (in 2015 reached 47,076 billion VND, in 2020 reached 71,755 billion VND), per capita income increased from 1,630 USD in 2015, raised to 2,458 USD in 2020, 1.66 times higher. times compared to 2015.

Implementing 3 breakthrough stages, Kien Giang prioritizes investment in the fields of transportation infrastructure with breakthroughs such as: Lo Te - Rach Soi highway, Rach Gia - Hon Dat - Kien Luong and Rach Gia coastal roads - Chau Thanh, Duong Dong - Cua Can - Ganh Dau, South - North axis of Phu Quoc island, provincial road 963B (Ben Nhut - Giong Rieng), Rach Gia passenger port, Bai Vong port, Phu international passenger seaport Nationally, upgrading An Thoi fishing port; to expand the terminal of Phu Quoc International Airport. Prioritize investment in construction and completion of irrigation systems, culverts, dams, river dykes, sea dykes, and electricity for production, especially in areas specializing in rice cultivation and concentrated aquaculture.

Most notably, tourism has actually become the spearhead economic sector of the province. Covid epidemic. Specifically, in 2016 reached 5.41 million visitors; in 2017 was 6.07 million turns; in 2018 was 7.62 million visitors and in 2019 was 8.78 million visitors, making a positive contribution to the province’s overall growth. Annual tourism revenue reaches more than 22,918 billion VND. Technical facilities of the tourism industry continue to be invested and developed to meet the needs of tourists; human resources for tourism basically meet the requirements; Tourism links with other localities in the country and internationally are expanded. Currently, Phu Quoc International Airport has flight connections with 13 countries and territories around the world.

- To maintain an attractive investment environment, what has Kien Giang been preparing?

In the past time, the leaders of Kien Giang province have been   very drastic in directing the review and restructuring of administrative units, cutting intermediate stages, simplifying, publicizing and transparent administrative procedures, reducing 40 - 50% of the time to handle administrative procedures compared to regulations. The system of provincial public administrative service centers has been put into operation, continuing to build district public administrative centers operating on the principle of 5 on the spot: "receiving, appraising, approving, stamping and pay results”…to create a healthy and fair investment environment.

The cumulative foreign direct investment (FDI) attraction of Kien Giang’s projects valid until August 20, 2020 is 61 projects. Accordingly, with a total registered capital of over 4.8 billion USD, ranking 20th in the country and 2nd in the Mekong Delta in terms of FDI investment capital. Regarding investment partners, there are 18 countries and territories present in Kien Giang. Investment in fields such as: tourism, agriculture, processing industry, manufacturing, trade and service.... Kien Giang is currently calling for investment in such fields as tourism, trade. commerce, environment, high-tech agriculture; agricultural and aquatic product processing industry; recycled energy; urban and rural water supply; housing and urban development; harbors, piers; education and training; culture and sport.

In order to attract high-quality investment, the most important thing is that the locality determines what it wants to offer appropriate mechanisms and policies for investors. According to the Investment Law 2020, localities will study the application of special investment incentives and support to encourage the implementation of investment projects with socio-economic impacts.

Implementing Resolution 50-NQ-TW dated August 20, 2019 of the Politburo, the province continues to perfect mechanisms and policies, improve the quality and efficiency of foreign investment cooperation, including considering technology and environmental criteria to bring businesses into the global supply chain when Vietnam joins new generation free trade agreements (CPTPP, EVFTA, RCEF).

 Especially to catch the shifting investment capital from Thailand, Indonesia, India, China... the authorities need to continue to innovate investment promotion methods, consult mechanisms, appropriate policies for each type of investor; Promote the association of businesses participating in the global supply chain in order to promote the strengths and potentials of large corporations in the locality.

(Source:kitra)
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