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Low FDI in Mekong Delta attributed to poor infrastructure

An official has attributed low foreign direct investment (FDI) in the Mekong Delta over the past years to poor infrastructure.
Low FDI in Mekong Delta attributed to poor infrastructure ảnh 1Tra fishing in Dong Thap (Source: VNA)
Can Tho (VNA) – Anofficial has attributed low foreign direct investment (FDI) in the Mekong Deltaover the past years to poor infrastructure.

Vo Hung Dung, Director of the CanTho chapter of the Vietnam Chamber of Commerce and Industry (VCCI Can Tho),said while the Mekong Delta’s provincial competitiveness index (PCI) is highcompared to the country’s average, FDI attraction not only relies on business environmentbut also on geographical location, transport and infrastructure.

He cited the examples of Long Anand Tien Giang provinces, which have led the region in attracting FDI in recentyears despite a low ranking in PCI, noting that the two provinces borde the southerneconomic hub of Ho Chi Minh City.

Dung pointed to the fact that Hanoiand Ho Chi Minh City are the places where FDI concentrates as they are majorurban centre with developed infrastructure and good connectivity.  

The VCCI official is optimisticthat when the Trung Luong – My Thuan and My Thuan – Can Tho highways, Vam Congand Cao Lanh bridges, and regional logistics centre are put into use in thecoming years, the Mekong Delta is expected to lure more FDI.

He also highlighted a change ofdirection in FDI flow in recent years, with more FDI reaching Can Tho City andVinh Long province in the centre of the Mekong Delta. In previous years, theflow mostly reached Long An and Tien Giang and part of Kien Giang.

Last year, the Mekong Deltaattracted 1.36 billion USD worth of FDI, raising the number of foreign-investedprojects to 1,324 with total registered capital of over 18.9 billion USD, accountingfor 5.8 percent of the country’s total project number and 6 percent in value.

According to VCCI Can Tho, theregion drew 27 FDI projects worth 103 million USD in the first quarter thisyear. Of them, 15 projects registered additional capital worth 31 million USDwhile 50 million USD was paid for stock purchase deals and the remaining wasinvestment in new projects.  

Tien Giang led the region in theperiod with 54.62 million USD and two new FDI projects.-VNA
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#foreign direct investment #Mekong Delta #VCCI #PCI #poor infrastructure Can Tho
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