Hau Giang gets ready for new investment waves from ASEAN
WVR - With a convenient location, good infrastructure, and the continuous efforts of all levels to create an open business investment environment, Hau Giang is firmly on its way to welcoming more foreign investors, especially from the ASEAN region.
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From a potential province to having diverse cooperation with ASEAN
Hau Giang province is located in the Mekong Delta region. It has the largest area of agricultural and aquatic raw materials in the country. It is also considered as a center of inland and waterway transportation, commerce, services and logistics of the South Song Hau region through National Highways 1, 61, 61B, 61C, Quan Lo – Phung Hiep, South Song Hau, and Bon Tong – Mot Ngan traffic route.
The province also owns a convenient waterway transport system (throughout the province, there is the Hau River route, which is an international and national waterway transport route, the main branch of the Mekong River; other waterways, namely Kenh Xa No, Kenh Quan Lo - Phung Hiep, Cai Tu Rivers... located on the national waterway route Ho Chi Minh City - Ca Mau), ensuring a smooth traffic connection.
Specifically, there will be 3 expressways passing through the province including Chau Doc - Can Tho - Hau Giang - Soc Trang Expressway which is expected to be completed by 2026, with 37km passing through Hau Giang province; Can Tho - Ca Mau Expressway, expected to start construction from 2021-2025 and complete after 2025, with 63.5km passing through Hau Giang province; Ha Tien - Bac Lieu Expressway is expected to complete after 2025 with a total length of 225km.
Hau Giang currently has 2 industrial parks with a total area of approximately 492ha in Chau Thanh and Chau Thanh A districts, with occupancy rate over 90% and 7 industrial clusters operating with an area of 486.55 ha, occupancy rate over 70.95%. The industrial land area of Hau Giang by 2030 will be 2,233 ha, the second largest in the Mekong Delta region. Recently, the Prime Minister agreed to add 2 Song Hau 2 and Dong Phu 2 Industrial Parks to Vietnam's Industrial Park Development Planning. In the 2021-2030 period, Hau Giang will establish 7 new industrial parks with a total area of 1,741ha in Chau Thanh, Chau Thanh A and Phung Hiep districts, all located near the intersections of the expressways that will pass through the province.
Realizing the above advantages, over the past time, Hau Giang has always actively and proactively participated in regional linkages and international integration, especially strengthening connections with partners in the ASEAN region.
The province has relations with all ASEAN countries. Its cooperations span various fields such as: trade, investment, tourism, culture, labor, etc.
In terms of trade and investment, Hau Giang expands the export market of agricultural products, connecting investment between Vietnamese businesses and businesses in ASEAN countries. In May 2022, Hau Giang Provincial Party Committee organized a working delegation to meet and discuss with partners in Ho Chi Minh City and a number of provinces and cities in ASEAN countries to seek opportunities for investment and trade cooperation. In June 2022, Hau Giang business delegation attended the 14th ASEAN international fair in Chiang Mai, Thailand, to expand the market for agricultural products.
Specifically, in June 2022, Hau Giang successfully organized the Investment Promotion Conference themed "Businesses come, Hau Giang rejoices", with over 500 guests including representatives from Consulate Generals, Associations, International Organizations, investors and businesses and achieved 5 major successes. Prime Minister Pham Minh Chinh attended, directed the Conference, and witnessed the province granting in-principle and investment certificates to 12 projects with total capital of nearly 19,000 billion VND, signing Memorandums of Understanding for investment with 8 investors with a total value of about 220,000 billion VND. The province also signed Memorandums of Understanding on cooperation with the Vietnam Chamber of Commerce and Industry (VCCI) - Can Tho Branch to support businesses and investors in the province and with Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank) on a lending package of 10,000 billion VND for businesses investing in the province.
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| Prime Minister Pham Minh Chinh attended an investment promotion conference in the Mekong Delta province of Hau Giang in July 2022. (Photo: VNA) |
To date, Hau Giang has 348 projects with total investment of 170,415 billion VND, including 272 non-industrial park projects with total capital of 20,276 billion VND; 71 projects in industrial parks with capital of 149,802 billion VND; 05 projects in Hi-tech Agricultural Parks with capital of 337 billion VND, as well as 25 FDI projects with total registered capital of 631,041,298 USD.)
In terms of culture and tourism, the province occasionally shares experiences in tourism development, introduces tourist destinations and products to visitors from countries in the region. In March 2022, Hau Giang introduced its tourism products to ASEAN partners at VITM Da Nang International Tourism Fair. In April 2022, Hau Giang organized a exhibition on Viet Nam’s Southwest region’s culinary, to promote the image of local culture and cuisine in Singapore.
"Open the door" for investors
In 2022, Hau Giang's economic growth rate led the Mekong Delta region, ranking 4th in the country. In the first 6 months of 2023, this rate reached 14.21%, the highest in the country. In 2023, state budget revenue will reach 6,518 billion VND, total social investment capital will reach 22,310 billion VND and per capita GRDP is 75.49 million VND/person/year.
In addition, many major groups are interested in studying projects in the province related to solar power, commercial residential infrastructure, and 4-star hotels such as Kinh Bac, Shinec, Sun Group, Thang Thang Cong Group, Cat Tuong Group, Dat Xanh Group...
Hau Giang's investment environment also continues to improve. In 2021, from a score of 63.8 points and ranking 38th out of 63 provinces, in 2022 Hau Giang rose to 68.12 points and ranked 12th out of 63 provinces/cities with the highest Provincial Competitiveness Index (PCI) (rising 26 places compared to 2021), belonging to the group of economies with "good" management nationwide. Many other indexes of the province in 2022 also achieved good results such as: Public Administration Performance Index (PAPI) ranking 28th, up 5 places compared to 2021; Citizen Satisfaction and Business Satisfaction Index (SIPAS) ranking 33rd, up 17 places compared to 2021; Public Administration Reform Index (PAR INDEX) ranking 20th, up 7 places compared to 2021. This is considered the "fruit" of the close leadership and direction of Party committees, governments and the concerted efforts of the entire people and business community).
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| Lung Ngoc Hoang Forest, Nature Reserve & Bird Sanctuary, Hau Giang province. (Photo: VNA) |
More importantly, leaders of the province and of all levels and sectors have changed their mindset, from “management” to “support”, as well as the working methods to find the most effective solutions for businesses and investors. Accordingly, Hau Giang has focused on these four main efforts:
Firstly, the province focuses on reviewing and simplifying administrative procedures, establishing a public administrative service center, applying many online public services at level 3 and level 4. It also publicizes the list of projects calling for investments, facilitate the procedures to lease land.
Secondly, Hau Giang is one of the leading provinces in the region in assessing District and Department Competitiveness Index (DDCI); set up specialized teams to solve and support issues related to investment promotion, trade promotion, export of goods...
Thirdly, the province put out various mechanisms and policies to support investors in the direction of making sure they enjoy the highest incentives and perform their obligations at the lowest level in the regulatory framework.
Fourthly, Hau Giang regularly organizes business dialogue sessions to listen to thoughts and aspirations, from which to promptly solve difficulties and problems for businesses and the people.
In the last months of 2023 and beyond, Hau Giang is particularly fixated on strengthening regional links, international integration, and attracting foreign direct investment. Currently, the province is calling for investment in four areas: industry, agriculture, urban areas and tourism. At the same time, the province is expected to welcome a new “wave” of investment from the world and the ASEAN region in infrastructure, production and processing into industrial zones and clusters.
In the coming time, Hau Giang province is determined to carry out three breakthrough tasks for socio-economic development and for attracting domestic and foreign investment, in order to orientate the development of Hau Giang province in the period of 2021-2030, with a vision to 2050.
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