Kien Giang prioritises attracting foreign investment in five main pillars

 

Kien Giang (VNA) - The Mekong Delta province of Kien Giang is carrying out measures to increase the quality and efficiency of foreign investment and create an open and transparent business and investment environment to attract more capital.

Five main pillars have been prioritised, namely high-tech agriculture; clean and renewable energy; tourism; trade-services, education-training, and high-quality healthcare; and developing the sea-based economy in association with ensuring defence-security.

Kien Giang targets attracting 30-40 FDI projects with total capital of 60-100 million USD during the 2021-2025 period and 40-50 projects with 80-120 million USD in 2026-2030.

The province has also set a target of the number of projects using technologies from G7 or OECD countries accounting for 45-50 percent of the total during 2021-2025 and 60-70 percent during 2026-2030, with the localisation rate to equal the country’s average.

It expects to create about 175,000 jobs and collect 545 million USD for the State budget during 2021-2025 and over 680 million USD during the next five years.

To increase the quality and efficiency of foreign investment, it will bolster its administrative procedure reform and publicise investment registration and assessments of FDI projects.

It also encourages projects using clean and environmentally-friendly technologies and employing local workers. It will not consider foreign investors using out-of-date technologies that present a risk of environmental pollution.

Foreign businesses are also encouraged to voluntarily increase technology transfer.

Kien Giang commits to creating favourable conditions for foreign enterprises in training and improving workplace skills./.