Long An seeks FDI boost to industrialisation plans

Monday, Aug 05, 2019 18:02

Long An is striving to attract foreign direct investment to help achieve its target of becoming a modern, industrialised province. — VNS Photo Van Chau

The southern province of Long An is giving top priority to foreign investment in urban residential area construction, transport, industrial infrastructure, hi-tech agriculture, and supporting industry, according to provincial authorities.

The statement was made by Vo Ngoc Dinh, deputy director of the province’s Department of Planning and Investment.

Dinh said that the province is seeking to become modern and industrialised by 2020. A favourable geographic location, abundant resources and a dynamic and investor-friendly administration make Long An an optimal destination for foreign direct investment.

“The province, situated 40km from HCM City, has been striving hard to attract FDI. It has worked hard to draw up measures and plans to improve the business climate for foreign investors and assess business conditions to help foreign companies handle problems that arise,” Dinh said.

The province is home to 978 foreign-invested projects worth almost US$6.15 billion in Long An. Almost 60 per cent are operational and have so far brought in $3.6 billion.

The projects are concentrated in industrial parks and clusters in key districts such as Duc Hoa, Ben Luc, Can Duoc, Can Giuoc, and Tan An City. The UK, Taiwan, Japan, Singapore, South Korea, and the US are the biggest of the 37 countries and territories investing in the province. — VNS

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