Tien Giang joining forces for a new era of growth
WVR - The correct and effective investment strategies in infrastructure, industrial development, and attractive policies have helped Tien Giang strengthen its strategic position, attracting significant attention from high-profile investors.
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| Tien Giang joining forces for a new era of growth: Long Giang Industrial Park. |
In the first nine months of 2024, Tien Giang has seen positive results in attracting investment, especially after the successful organization of the Investment Promotion Conference. As of September 2024, the province attracted 11 new projects with a registered investment capital of 6,887 billion VND. Additionally, 9 projects increased their capital by 7,105 billion VND, bringing the total investment attracted to 13,992 billion VND by the end of September. Specifically, industrial zones attracted 3 FDI projects and 1 DDI project with a registered investment capital of 24 million USD and 40 billion VND. The province issued an investment certificate for the Tan Phuoc 1 Industrial Zone infrastructure construction and business project, with a total investment of 5,937 billion VND.
Moreover, 37 projects have had their investment certificates adjusted, with 8 projects increasing their capital by an additional 280.58 million USD.
Great potential for development
Tien Giang is strategically located along the northern bank of the Tien River, about 70 km from Ho Chi Minh City and 100 km from the Mekong Delta region.
This advantageous distance facilitates easy connectivity between raw material sources, production areas, markets, and export destinations.
The province also boasts key transportation routes such as National Highways 1A, 50, 60, and 30, and the important expressway from Ho Chi Minh City to Trung Luong - My Thuan, with plans for a future Ho Chi Minh City - Trung Luong railway. Additionally, the network of the Tien River, Vam Co Tay River, Soai Rap River, and Cho Gao Canal enhances Tien Giang’s position as the gateway for Western provinces to Ho Chi Minh City, providing a significant advantage for attracting investment.
With a coastline of 32 km, the province is investing in projects to develop its maritime economy, improve international maritime trade links, and accommodate ships with a weight of up to 3,000 tons at My Tho Port. Tien Giang’s position as the “fruit garden” of Viet Nam, along with its abundant labor force, presents favorable conditions for investing in agricultural processing and the formation of high-tech agricultural zones.
Tien Giang is also rich in natural conditions, with diverse ecosystems, cultural and historical relics, and traditional villages, all of which offer a strong foundation for developing ecological tourism and other tourism types.
Moreover, Tien Giang still has significant potential to develop industrial parks and agricultural production areas, especially the land areas managed by the state for industrial park development in Tan Phuoc District, Go Cong Region, and Tan Phu Dong District. The province’s coastal economic zone also holds considerable untapped potential.
Tien Giang hopes to attract investors to explore opportunities in residential areas, coastal urban development, seaport projects, and marine tourism.
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| My Tho city’s marina. |
Rolling out “the red carpet” for investment
To leverage these advantages and attract more domestic and international investors, Tien Giang is focused on implementing a range of synchronized solutions.
Specifically, the province will continue to implement government resolutions on key tasks and solutions to improve the business environment, enhance national competitiveness, and streamline processes to reduce business operating costs while encouraging technological innovation.
In the future, the province aims to develop industry, agriculture, urban areas, and tourism as the four strategic breakthroughs for economic and social development, increasing local budget revenue and improving the material and spiritual life of Tien Giang’s people during the 2021-2025 period and beyond.
Regarding investment attraction, Tien Giang will prioritize attracting large projects from multinational corporations to create brands and enhance the province’s attractiveness to other investors.
The province will also focus on high-tech, environmentally friendly projects that contribute significantly to the budget, such as electronics, telecommunications, mechatronics, pharmaceuticals, and medical equipment. Key priority sectors include high-tech agriculture, smart agriculture, and the development of new industries based on Industry 4.0. In the service sector, Tien Giang will focus on investing in key services identified in the planning period, such as trade, logistics, MICE tourism, and ecological tourism.
Tien Giang hopes to open new opportunities for cooperation with investors from the APEC and the G20. Investors coming to Tien Giang will be assured of a favorable investment and business environment, with streamlined administrative procedures and a one-stop- shop mechanism for handling investment-related procedures.
Additionally, Tien Giang will focus on improving the quality and effectiveness of the Provincial Investment Promotion and Business Support Center, actively resolving difficulties, and accelerating land clearance to ensure clean land is available for investors on schedule. For major projects, the province has established a Steering Committee led by the Provincial People’s Committee Chairman, with members from relevant departments and localities, to promptly guide and assist in resolving any issues, ensuring project timelines are met and improving investment efficiency.
Rolling out “the red carpet” for investment is a long-standing policy of Tien Giang’s leadership.
In the coming period, investors are invited to come to Tien Giang to explore and harness its potential and advantages and to join in the province’s new phase of development.
| The Tien Giang Provincial Planning for the period 2021-2030, with a vision to 2050, was approved by the Prime Minister under Decision No. 1762/ QD-TTG on December 31, 2023. This plan will serve as a basis for the continued growth of investment attraction in the province, drawing large enterprises and corporations with strong investment capacity to projects that deliver high socio-economic value, in line with the province’s planning and development direction. |
