Long An rolls out red carpet for foreign investors

The Mekong Delta province of Long An has taken many measures to improve its investment environment in order to attract foreign investors.

According to Nguyen Van Duoc, Vice Chairman of the provincial People’s Committee, the FDI economic sector has not only directly contributed to the province’s economic growth but also created jobs for locals and those from other localities.

The sector created a motive for the province to perfect its investment environment, policies and institutions, administrative procedures, infrastructure and human resources development, he said.

According to a provincial report, Long An has had 828 registered FDI projects with a total capital of US$5 billion.

Of which, 459 projects have been put into operation, accounting for 60%, and FDI disbursement hit US$3 billion, or 60% of total registered capital.

The provincial Party Secretary Pham Van Ranh said Long An sets to become an industrialised province by 2020. It will build high-quality industrial parks to call for foreign investors and create key industrial sectors.

Improving the investment environment is one of Long An’s focuses, he said, adding that the province makes specific annual plans on improving provincial competitive index and streamlines administrative procedures, especially those on land, tax and customs.

In addition, the province will also concentrate on completing the infrastructure system, particularly transport, electricity and water to provide all necessary conditions for investment projects to effectively operate in the locality.

According to Tran Van Can, Chairman of the Long An People’s Committee, the province pledges to create a favourable and healthy business environment for investors, especially foreign ones. However, investment projects must use environmentally friendly technologies, he noted.

Long An currently has 28 industrial parks with a combined area of 10,220 hectares, of which 16 are operating with a occupancy rate of 61%.

Besides, the province also has 32 industrial clusters covering 3,368 hectares, with 14 operational with an occupancy rate of 88%.

Source VNS