Tran De port in Soc Trang will be upgraded to vastly enhance the export capability of the Mekong Delta. (Photo: cafeland.vn) Hanoi (VNA) – Soc Trang province's efforts to improve its businessclimate is paying off with more and more investors, both domestic and foreign,coming since 2016.
The Mekong Delta province has worked with hundreds of potential investorsseeking to invest in areas where the province has strengths like hi-techagriculture, tourism and wind and solar power.
It approved 116 projects with a total investment of 27.3 trillion VND (1.18billion USD) in 2016-20, 5.5 times the amount in the previous five years.
Nine of them are FDI projects.
Soc Trang authorities have been making efforts to improve the investmentclimate and provincial competitiveness by focusing on infrastructure andproviding lands for projects.
They are keen on projects that are sustainable and environment-friendly.
Nguyen Thi Thuy Nhi, deputy director of the province’s Department of NaturalResources and the Environment, said her department had been reformingadministrative procedures, boosting the province’s competitiveness in terms ofattracting investment and business climate.
One key infrastructure project is the upgrade of Tran De deep-water port, whichwill reduce logistics costs for exports from the Mekong Delta.
The recently approved Chau Doc - Can Tho - Soc Trang highway will connect tothe port, aiding goods transportation and improving links with the rest of thecountry.
The province is also creating a start-up eco-system with developmentassistance, incubation programmes and sponsorship for creative small andmedium-sized businesses.
In the last five years 1,900 new businesses were set up, a 47.2 percent increasefrom 2011 – 15. Many companies have invested in manufacturing in the An NghiepIndustrial Park, creating tens of thousands of jobs.
In 2021 – 25 Soc Trang seeks to further improve its business climate andcompetitiveness, focusing on business assistance services, labour training andhelping investors start projects smoothly.
There are 3,300 registered businesses in the province with a total chartercapital of 33 trillion VND.
Soc Trang’s economy grew by 6.75 percent in 2020./.
VNA
