Southern city receives more foreign investment
Four projects in seafood processing and waste incineration worth nearly US$10 million have been approved in southern Can Tho city, increasing the total number of valid project in the city to 204.
These valid projects, currently leasing 564.9 hectares of industrial land, have registered capital of US$1.8 billion, and already disbursed more than US$805 million.
Creating 33,000 jobs for local people, the industrial zones in Can Tho are considered to be the most productive in the Mekong Delta region.
During the first four months of this year, the zones generated US$528 million including US$380 million from industry, a year-on-year increase of 1.8 percent; and US$167 million from exports, an increase of 1 percent over the same period last year.
In order to attract investment, the city has reformed its administrative procedures, reducing the licence authorisation term to five days.
Can Tho has also improved its infrastructure, expanded industrial zones, invested in a sewage processing system, and strengthened trade promotion activities.
In addition, the city has created a more favourable investment environment for businesses by cutting taxes and introducing interest support policies and professional training.
Particularly, BOT (Build-Operate-Transfer), BTO (Build-Transfer-Operate) and foreign invested projects will be exempt from the land lease tax, land use tax and corporate income tax for 8-15 years.