Tien Giang: FDI projects double in first half

The Mekong Delta province of Tien Giang drew nine foreign direct investment (FDI) projects in the first half of 2016, doubling the figure for the same period last year, with seven landing in its industrial parks.

According to Nguyen Thanh Liem, deputy head of the provincial Industrial Zones Authority, the new projects have a total registered investment of US$328 million, a 16-fold increase year on year. 

The outcome was largely owing to the local authorities’ efforts to improve the business climate and simplify investment procedures to attract more investors. 

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The locality has been working to formulate preferential policies for investors and offer incentives for investment in key industries. 

The province has to date had 84 investment projects located at industrial parks, including 58 FDI projects worth more than US$1.7 billion, while its industrial clusters host 86 investment projects with a combined registered capital of approximately VND2.8 trillion (US$125.6 million). 

These projects have provided job opportunities for about 87,000 workers. In the first six months of 2016, they generated over VND22 trillion (US$986.7 million) in industrial production value, up 35.74% against the same period last year and fulfilling nearly 55% of the yearly target. 

They also earned more than US$675 million from exports, up 32% year on year.

VNA

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