Foreign investment in Mekong Delta hits US$11.9 billion

As many as 906 foreign-invested projects worth US$11.9 billion have been operational in the Mekong Delta region so far, according to the Steering Committee for the Southwestern Region.

Illustration photo (Photo: Thai Thien)

In 2014 alone, the region attracted US$654 million from 71 new projects and 22 existing ones in 2014.

Of the regional localities, Long An, Kien Giang and Tien Giang provinces accounted for up to 70% of the total new investments.

Nguyen Phong Quang, deputy head of the Steering Committee said the results was attributed to efforts made by the localities to improve Provincial Competitiveness Index (PCI), adding that these contributed to creating attractive investment climate, thus luring more investment to the region.

The Mekong delta localities have set up investment-trade promotion centres to provide businesses with information in the field, while reforming administrative procedures to facilitate foreign investor’s operation in the region.

Investors in the region are offered a land rental exemption of at least 50% within three and six years.

Additionally, investment projects in difficult areas are enjoying a tax reduction up to 15-20% as well as land rental discount.

To facilitate investors in the region, the localities are carrying out a number of key projects such as a coal and natural gas-fuelled power plant in Can Tho city, a coal-fuelled electric plant in Kien Giang, and electricity centres in Tra Vinh, Soc Tang and Hau Giang provinces.

The construction of Trung Luong-Can Tho expressway, highways 91, N1 and N2, and several road routes along coastal areas, was also completed.

With the endeavour, the region hopes to draw an additional US$800-900 million of foreign investment in 2015.

(Source: nhandan.org.vn)