Long An Province targets economic growth of 8.5 per cent in 2024. — VNA Photo
Long An Province targets growth of 8-8.5 per cent this year by focusing on further burnishing its investment climate and restructuring its economy.
It also eyes per capita income rising to VNĐ105-110 billion ($4.3-4.5 million) by the end of this year.
Nguyễn Văn Út, chairman of its People's Committee, said Long An aims to utilise its potential in terms of industrialisation, infrastructure and outstanding investment climate.
It plans to concentrate on developing the supporting, processing and energy industries.
It is focusing on attracting investment, especially from abroad, to facilitate linkages between producers and consumers of supporting industries’ output, and develop commercial infrastructure and delivery and logistics services.
It is also focusing on traffic projects that will foster socio-economic development, such as provincial roads 830E and 827E and HCM City's Ring Road No 3.
The administration plans to mitigate difficulties related to compensation, land clearance, resettlement, and infrastructure investment, and set up more industrial parks.
It is also focusing on improving the investment and business climate, including implementing solutions to improve its ranking in the Provincial Competitiveness Index.
The fluctuating and unpredictable economy in 2023 strongly affected Long An but it still achieved an impressive growth of 5.77 per cent, higher than the country’s.
It has risen to be one of the top provinces in terms of attracting investment with over 2,200 domestic and 1,250 foreign projects worth over VNĐ298 trillion ($12.1 billion) and $10.6 billion, respectively.
Ho Joong, chairman of the Korean Chamber of Commerce and Industry in Long An, said the local leadership and investment climate is excellent.
Long An pays great attention to supporting investors, and so more and more are coming into the province, he said.
He believed more Korean investors would also arrive.
Bùi Khánh Nguyên, deputy director of Coca-Cola Beverage Vietnam Limited Liability Company, which has a $136 million factory with a capacity of billion litres a year, said the provincial administration always pays attention to and creates the best conditions for the construction of smart, environment-friendly factories. — VNS