Kien Giang to attract investment in border gate economic zones

Ha Tien border gate in Mekong Delta of Kien Giang’s Ha Tien City. (Photo: VNA)

Kien Giang (VNA) – The Mekong Delta province of Kien Giang will step up promotion to attract investment in industrial zones, border gate economic zones, while improving its business investment environment, and facilitating the development of all economic sectors.

Nguyen Thong Nhat, director of Kien Giang province’s Department of Planning and Investment (DPI), said in 2022, the province will prioritise resources on infrastructure, and continue calling for investment in Thanh Loc industrial park phase 1, Vinh Hoa Hung Nam industrial cluster phase 1, Ha Tien and Giang Thanh border gate economic zones.

Solutions will be deployed to resume production in industrial production areas, and support packages and policies will be effectively carried out, thereby helping businesses overcome difficulties and restore production and business, especially key industry sectors which are vulnerable to the pandemic.

The provincial relevant agencies will assist the connection between businesses and domestic and foreign manufacturers, suppliers to revive the consumption market. It is striving to restore all production and business activities of business establishments, industrial zones and clusters to produce goods and create jobs for workers, stabilising their lives.

This year, the province has approved in principle investment for 17 projects with total register capital of more than 2.5 trillion VND (113 million USD), a decrease of 32 projects and a reduction of 22.2 trillion VND compared to last year.

According to the DPI, the province has 823 valid projects with total register capital of over 544 trillion VND by the end of this year. Of these, 375 projects have been put into operation with nearly 67 trillion VND, accounting for 12.3 percent of the total capital.

Kien Giang has 10,592 valid enterprises by the year-end. The number of newly-established enterprises tended to decrease while the number of enterprises leaving the market was on the rise. As many as 1,200 new businesses were set up this year, a decline of 300 against last year’s figure.

It also recorded 1,072 enterprises withdrawn from the market, up 723 compared with the previous year.

To remove obstacles in the investment process, the province has adopted some measures to assist firms as well as improve the quality of supporting activities for them.

It has pushed up the implementation of online public service with a view to simplifying administrative procedures for businesses and residents along with a reduction of electricity price for them./.