Long An focusing on providing more land to attract investors

Saturday, Jul 09, 2022 07:55

A groundbreaking ceremony of an industrial park project in Long An Province in April. — Photo baodautu.vn

Long An Province, an economic leader in the Mekong Delta, is focusing on increasing the amount of land plots for businesses coming into the province to improve its investment climate.

Long An has had four new industrial park projects approved for investment by the Government since the start of the year.

According to Nguyen Thanh Thanh, head of Long An Economic Zone Authority, the province currently has more than 10,170 hectares worth of planned industrial park projects approved for investment or having already found investors.

“Long An’s leaders pay great attention to helping investors and creating a favourable investment climate. Long An has issued investment certificates within one day to many high-capital, trustworthy investors,” he said.

Increasing supply of land plots for businesses will drive down rent fees and allow businesses to have more options, according to the official.

The province’s existing parks drew in 58 new projects in the first half of the year.

New foreign investment and capital adjustment to existing projects rose by 31 per cent year-on-year (to US$342 million), and 91.7 per cent for domestic projects.

Many new approved projects this year reached hundreds of millions of dollars in registered capital.

The authority will work with the province’s leaders, departments and localities to ensure land clearance compensation is carried out smoothly.

It will also push industrial parks to invest more into their infrastructure to attract large investors.

Thanh said that the authority frequently monitored industrial park projects that were slow to start and pushed for social housing projects for local labourers.

The Mekong Delta province is adjacent to HCM City and plays an important role in goods transportation for the entire delta.

It has 18 industrial parks under operation, and strives to maintain its leading position in terms of economic development in the delta. — VNS

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