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| My Tho Marina Port. (Source: VNA) |
Prime location
Tien Giang is a favorable land, with outstanding development due to its strategic location "first near the market, second near the river, third near the road". As a province located in the Tien River area and the key economic zone in the South, Tien Giang has a prime location for trade, circulation, transportation of goods and in the production and business activities of domestic and foreign investors.
Here, the waterway and road traffic network is developed with key traffic routes connecting the entire 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 businesses has recently received synchronous investment from the locality; industrial parks and clusters with complete infrastructure are planned in locations convenient for trade, with docks and boats nearby.
The province has a 32 km long coastline and is investing in many projects to develop the marine economy, connect international maritime trade and have the ability to receive 3,000-ton ships at My Tho Port. Not only that, Tien Giang is adjacent to Ho Chi Minh City and Long An province, very favorable for industrial, urban and service development.
In addition, with the advantage of being a specialty fruit growing area and an abundant labor force, the province is also an ideal destination for investment in the agricultural processing sector, forming a high-tech agricultural area.
Seizing the opportunity to cooperate with ASEAN
In the first 6 months of 2023, Tien Giang province attracted 12 projects, an increase of 50% over the same period, with a total newly registered and increased investment capital of an estimated VND 4,072 billion. The province has 415 newly registered enterprises, reaching 50% of the plan. Enterprises with foreign direct investment (FDI) achieved revenue of over 1.83 billion USD.
As of early July 2023, the province's industrial parks have attracted 110 projects. Of which, there are 81 foreign direct investment (FDI) projects with a total registered investment capital of 2,428.11 million USD and 29 domestic investment projects with a total registered investment capital of 4,865.86 billion VND. The leased land area is 524.26 hectares, accounting for 69.6% of the leased industrial land area.
The right and highly effective investment strategies in transport infrastructure, industrial infrastructure, and many reasonable attraction policies... are factors that help Tien Giang province consolidate its strategic position and attract the attention of large-scale investors.
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| Long Giang Industrial Park, Tien Giang. (Source: Tien Giang Newspaper) |
In recent years, the province has always focused on removing obstacles in promoting investment, developing enterprises, improving the investment and business environment, improving the Provincial Competitiveness Index (PCI), the Provincial Public Administration Performance Index (PAPI), the Satisfaction Index of Administrative Services (SIPAS)... at the same time, promoting startups, encouraging qualified business households to boldly establish enterprises; expanding the scale of production and business, contributing to the local socio-economy.
In addition, the province actively reviews land, planning, legal corridors, etc. to ensure that investors have sufficient legal basis to quickly implement approved investment projects immediately after completing necessary investment procedures, as well as promulgate and update the list of projects calling for investment, ensuring feasibility and consistency with the province's development orientation for the 2021-2025 period and vision to 2030.
Since the Covid-19 pandemic, Tien Giang has actively implemented synchronous solutions to create an equal and friendly ecosystem; including support for startups, technology support, digital transformation solutions, training and development of human resources, reasonable policies in attracting investment, expanding production and business for enterprises.
In addition, the province is always proactive in providing planning information, transparent information on land, publicizing information on investment calling projects, arranging staff with expertise to support investors... Regularly supporting businesses in recruiting and training workers to meet the needs of the economy, especially the foreign-invested sector.
The province’s upcoming goal is to continue attracting domestic and foreign investment into key industrial zones to increase added value and sustainably develop the two Southeast regions of Tan Phuoc and Go Cong. Promote land fund advantages to attract investment in the fields of real estate and housing, social infrastructure, trade, services, etc.
To achieve the above goal, the province is interested in attracting investment from countries in the ASEAN region. Currently, ASEAN is moving to a new stage of development with the establishment of the ASEAN Economic Community (AEC), promising to open new doors to attract FDI capital for Vietnam and Tien Giang wants to seize the opportunity, opening a new chapter of cooperation with countries in this region.
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