The currently operating industrial zones are all in prime locations, on wharfs, with a vital transportation network connecting regions and inter-regions, connecting Tien Giang province with the Mekong Delta and Ho Chi Minh City and the Southeast region such as: National Highway 50, National Highway 1, National Highway 60, etc. convenient for transporting raw materials for production and product consumption.
 Go Dang Seafood Processing Joint Stock Company operates in My Tho industrial zone. |
At the same time, the Planning of Tien Giang province for the period 2021 - 2030, vision to 2050 has been approved by the Prime Minister in Decision No. 1762/QD-TTg dated December 31, 2023, which has just been announced to create more new advantages, play a basis role for the work of attracting investment and development in the locality in general to continue to prosper as expected in the coming time, attracting large businesses and economic groups with potential to invest in new projects, which brings high socio-economic efficiency, both in accordance with the planning and orientation of the province.
Taking advantage of this opportunity, the province has many proactive measures to welcome the wave of investment in industrial zones, paying attention to spreading the red carpet to invite investment, offering many solutions to attract investment resources, encouraging businesses and investors to expand production.
Tien Giang province attaches importance to improving the investment and business environment to attract investment and develop businesses in the area, especially reforming administrative procedures and providing public administrative services in key areas such as investment, labor, construction and other support services related to businesses, ensuring the fastest, easiest and most convenient resolution time; implement a one-stop mechanism in handling administrative procedures associated with promoting startups, encouraging the conversion of business households into enterprises and improving the competitiveness of businesses.
Currently, on the basis of close coordination between the Management Board of Industrial Zones and relevant sectors, administrative documents and procedures under the one-stop mechanism are basically resolved ahead of schedule and on time, meeting requirements, in accordance with the law, which are welcomed by businesses.
On the other hand, the locality improves the quality and operational efficiency of the Center for Investment Promotion and Business Support; actively removes difficulties, support and guide investors on specific contents of investment registration procedures for projects in industrial zones in the area.
Thanks to that, in the first quarter of 2024, the locality has attracted 2 more FDI projects with a total investment capital of $20 million in industrial zones in the area, reaching 66.67% compared to the 2024 plan, with an increase of 200% compared to with the same period.
Up to now, industrial zones in Tien Giang province have attracted 111 projects, including 84 FDI projects with a total investment capital of over $2,526 million in FDI capital and VND4,487 billion in DDI capital; the leased land area is 550.53 hectares/753.23 hectares, accounting for 73.09% of the leased industrial land area.
In 2024, Tien Giang province plans to attract 3 new investment projects and adjust about 6 projects to increase investment capital. Total investment capital attracted an additional $90.0 million.
In the first quarter of 2024, overcoming difficulties and common challenges of the domestic and world economy, FDI enterprises in industrial zones in Tien Giang province achieved revenue of over $967 million, with an increase of 0.78% with period of the previous year; domestically invested enterprises also achieved revenue of over VND2,014 billion, with an increase of nearly 21% over the same period last year.
At the same time, the export turnover of enterprises in industrial zones in the province reached nearly $936 million, with an increase of more than 8.3% over the same period last year. Thereby, contributing to helping the province's export turnover in the first quarter of 2024 reach $1.35 billion and reach an increase of more than 19.8% over the same period last year.
Minh Tri
