Tien Giang: Investment sees 2.3-fold increase in H1
The Mekong Delta province of Tien Giang raked in a total investment of more than VND7.2 trillion, or US$316.8 million, in the first half of 2018, a 2.3-fold increase from the same period last year.
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Over 97.2 percent of the amount, or VND7 trillion (US$308 million), have been poured into 18 new projects, according to Vice Chairman of the provincial People’s Committee Tran Thanh Duc.
As a result, the Mekong Delta province of Tien Giang has so far lured over VND70.9 trillion (US$3.12 billion) in investment in a total of 282 projects, including US$2.3 billion in FDI in 116 projects.
Nearly 370 new enterprises have been established in the province in the January-June period with a total registered capital of more than VND2.58 trillion (US$113.52 million), up 31.5% and 89%, respectively.
Such remarkable progress is largely owing to the province’s adoption of new policies to improve local business climate and attract both domestic and foreign investors.
Tien Giang has partnered with the Vietnam Chamber of Commerce and Industry (VCCI) to analyse and assess the province’s business environment, said Duc. It has collected opinions from experts, policymakers and businesses on the status of local business climate and come up with solutions to improve it in 2018 and the following years, he noted.
The province has been mobilising all necessary resources to develop transport infrastructure, expand support for local businesses and foster the application of information technology to promote public administrative reforms. These move aims to provide investors with faster, more convenient and cost-saving public services and facilitate the development of e-government.
The province has also worked to enhance the effectiveness of its investment incentives, particularly in terms of taxation, credit provision, land and human resources and encourage the use of advanced technology and the development of agriculture as well as the production and distribution of farm produces.
Furthermore, the provincial and district leaders have held regular dialogues with local investors to update them with latest information on the local socio-economic situation alongside new regulations and reforms; and to learn about their obstacles.
