Can Tho aims to attract more investment in industrial areas

Tuesday, Nov 26, 2013 08:31

A worker at the Mekong Delta province of Can Tho City's Tra Noc Industrial Zone's Kim Xuan Co., Ltd. The city called for investment for 27 projects, worth over US$1.34 billion. VNA/VNS Huy Hung

CAN THO (Biz Hub)— The Cuu Long (Mekong) Delta city of Can Tho seeks domestic and foreign direct investment in 27 projects worth a combined VND28.18 trillion (over US$1.34 billion), local authorities have said.

Among these large-scale projects is the second phase of Thot Not Industrial Zone (IZ), valued at VND3.16 trillion (US$151 million); the infrastructure development of O Mon IZ, valued at VND864 billion ($41.14 million); and a $27.2 million factory manufacturing machines used for agriculture.

The city also called for investment in other projects involved in seaport development, the establishment of urban service areas, and the high-tech and tourism industries.

In order to attract further investment, the city has continued to foster administrative reforms in reducing the amount of time it takes to grant licenses and lowering the land lease fee, said the provincial Department of Planning and Investment's deputy director Le Duong Cam Thuy.

An Investment and Trade Promotion Centre was also set up to provide information and connect the enterprises with the local authorities, she stated.

The city also moved to complete its electricity, water supply and transport infrastructure; develop supporting industries; and provide high-quality manpower to foreign-invested projects.

In addition, the city has stepped up trade promotion activities and strengthened co-operation with other provinces in the region and the southern economic hub of HCM City to lure more investors.

The Foreign Investment Agency's latest report revealed that the city has attracted 63 foreign-invested projects, with capital totalling $781 million during the first 11 months of this year.

This has helped the area rank 34th among the 63 provinces and cities in terms of FDI attraction, it said. — VNS

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