The planning of Tien Giang province for the period 2021-2030, with a vision to 2050, approved by the Prime Minister, is the basis for investment attraction in the province to continue to flourish as expected, attracting large enterprises and economic groups with potential to invest in projects that bring high economic efficiency, creating more jobs for local people.
Early 2024 - Many outstanding economic results
With efforts to improve the quality of economic development management, Tien Giang province has achieved many impressive results in the first half of 2024. Specifically, in the first 6 months of 2024, the total product in the province (GRDP) increased by 5.6% over the same period, especially recording that all economic sectors increased higher than the same period in 2023. GRDP calculated at current prices reached 63,784 billion VND.
At the same time, thanks to efforts to improve the business environment and enhance the quality of economic management, investment attraction in Tien Giang has shown many positive signs; more investors have shown interest after the province successfully organized the Conference to announce the Planning and Investment Promotion. In the first 6 months of the year, the province attracted 5 new projects and 8 projects with increased capital, with a total capital attraction of 7,984 billion VND, an increase of 4.1 times compared to the same period in 2023.
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| Long Giang Industrial Park. |
Different potential, outstanding opportunity
At the working session with the Tien Giang Provincial Party Committee held at the end of March 2024, Prime Minister Pham Minh Chinh affirmed: Tien Giang has a favorable geo-economic position, converging all the elements of the Mekong Delta - the "rice granary", "fruit granary" and "shrimp - fish granary" of the whole country and the unique cultural values of the river garden area...; is a transit area for goods between the provinces of the Mekong Delta with Ho Chi Minh City and the whole country, notably My Tho city, one of the largest urban areas and commercial centers, formed earliest in the South; has a favorable geo-economic position for trade and economic development with Southeast Asian countries, and at the same time has many potentials and advantages for developing the marine economy, agriculture, industry, tourism, services and trade, which is one of the growth poles of the Mekong Delta.
With many advantages in natural conditions and economic geography "First near the market, Second near the river, Third near the road", Tien Giang has a convenient and developed water and road traffic system with key traffic routes connecting the whole region such as: Trung Luong - My Thuan Expressway, Trung Luong - Ho Chi Minh City Expressway, National Highway 1, National Highway 30, National Highway 60, National Highway 50, Tien River, Soai Rap River, Cho Gao Canal.
In particular, the infrastructure serving to attract investment and enterprises has recently received synchronous investment attention from the locality; industrial parks and clusters with complete infrastructure are planned in locations convenient for trade, on the wharf and under the boat; abundant human resources of over 1.1 million people of working age, with about 55% having been trained, are ready to meet the needs of enterprises, along with diverse economic potentials in the fields of agriculture - industry and other trade - services waiting for enterprises and investors to exploit.
In addition, the prime location of Tien Giang province also contributes to creating favorable conditions for trade and circulation, transporting goods with domestic and foreign investors, especially investors from Korea.
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| My Tho city at night. |
Open the door to welcome Korean investors
“Rolling out the red carpet to attract investment” has been a consistent policy of Tien Giang province leaders over the years and has brought about positive results.
Currently, Korea is the second largest investor in Tien Giang with 31 projects, total investment capital of nearly 362 million USD. There are more than 130 Korean workers working in Tien Giang. Tien Giang's export turnover to Korea and the number of Korean tourists to Tien Giang have increased gradually over the years. In 2023, Tien Giang exported nearly 400 million USD worth of goods to the Korean market with the main items being: copper pipes, aluminum, seafood, agricultural products, etc.
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| Chairman of Tien Giang Provincial People's Committee Nguyen Van Vinh (second from left) chaired the meeting and worked with representatives of the Incheon - Korea Food Production Association on June 14, 2023 (Source: Ap Bac Newspaper). |
To create more favorable conditions for businesses, including Korean businesses, Tien Giang has introduced many solutions to encourage businesses and investors to expand the scale of projects, and provide specific instructions on investment registration procedures for projects in industrial parks and clusters in the area. In particular, focusing on improving the investment and business environment to attract investment and develop businesses, especially reforming administrative procedures, providing public administrative services in key areas such as: Investment, labor, construction and other support services related to businesses.
Implementing the one-stop, one-stop mechanism in handling administrative procedures associated with promoting start-ups, encouraging the conversion of business households into enterprises and improving the competitiveness of enterprises, the province always ensures the time to handle related procedures in a timely, quick and most convenient manner.
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| Chairman of Tien Giang Provincial People's Committee Nguyen Van Vinh presented souvenirs to Incheon - Korea Food Production Association and SRC Company Limited. |
In order to facilitate investors and businesses to invest in the locality, the province has focused on improving the waterway and road transport network to serve development in key urban economic zones: Central region, Eastern economic-urban region, Western economic-urban region and inter-regional and inter-provincial connections. In the period of 2023 - 2025, Tien Giang invested over 795.5 billion VND to implement 4 key transport projects to connect and develop economic zones in the province. In addition, Tien Giang is actively coordinating with Dong Thap province to implement Component Project 2 of the Cao Lanh - An Huu Expressway Construction Project, Phase 1.
The above key transport projects, when completed, will connect with the Ho Chi Minh City - Trung Luong - My Thuan expressway, contributing to removing the "bottleneck" in transport infrastructure in the Mekong Delta, creating a driving force to promote socio-economic development in the whole region, helping Tien Giang have more new and favorable opportunities to attract investment, develop socio-economy, and rise up with the whole country.
In the future, the province wishes to continue attracting domestic and foreign investment in key industrial zones to increase added value. Tien Giang is increasingly calling for businesses wishing to invest in industrial zones and clusters with incentives in many aspects such as: open legal corridors, incentives on land rental prices, recruitment of workers in need of work, etc.
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| Tien Giang received and worked with the Trade Delegation - Consulate General of Korea in Ho Chi Minh City. (Source: Ap Bac Newspaper) |
Tien Giang commits to creating all favorable conditions, reducing compliance costs, reducing logistics costs... for FDI enterprises in general and Korean enterprises in particular to invest in the locality.
Source: https://baoquocte.vn/tien-giang-tao-dieu-kien-thuan-loi-cho-nha-dau-tu-hoat-dong-hieu-qua-277049.html
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