Hau Giang opens the door to lure post-pandemic investment

13/12/2021| 16:56

As a bright spot in attracting investment in the Western region of the country, Hau Giang province focuses on improving local business and investment environment, bettering socio-economic infrastructure, and creating favorable conditions for investors in order to pave the way for sustainable development.

Hau Giang opens the door to lure post-pandemic investmentHalcom Vietnam and Japan’s Shizen Energy held a ceremony on March 13, 2021 to inaugurate a solar farm in Hau Giang in the presence of President of the Vietnamese Fatherland Front Tran Thanh Man.

An attractive destination

The Mekong Delta region, where Hau Giang is located, is home to Viet Nam’s most abundant agricultural and aquatic material resources. Furthermore, it is a hub connecting traffic, waterway transport, commerce, services, and logistics in the Southern area of the Hau River region via National Highway 1, National Highway 61, National Highway 61B, National Highway 61C, Quan Lo - Phung Hiep Road, South Hau River Highway, Bon Tong - Mot Ngan route, and other artery roads that link districts and communes in the province.

In terms of the inland waterway system, its adjacency to the Hau River - one of the two main parts of the Mekong River, the Ba Lang River, Xa No Canal, Quang Lo – Phung Hiep Canal, and the Cai Tu River, as well as in proximity to the Ho Chi Minh City - Ca Mau corridor make Hau Giang convenient for transporting raw materials and goods and meet all of people’s and businesses’ travel demand.

Hau Giang currently has two industrial parks and eight concentrated industrial clusters, covering over 1,269 hectares. Among them, the two industrial parks have an average occupancy rate of around 80%, while each of the eight industrial clusters has about 60%.

Up to now, a large number of local and foreign firms have been investing in Hau Giang, significantly contributing to the region’s socio-economic development and prosperity. Notably, there are many large companies, such as Minh Phu Seafood Processing and Exporting Group, Tan Hiep Phat Beverage Group, Masan Group, Vingroup, Song Hau Thermal Power Plant, and so on.

Not to let the pandemic “freeze” activities

The year 2021 actually is a tough one for the entire country in general and Hau Giang in particular, as Viet Nam is performing the dual task of recovering the socio-economy while fighting the COVID-19 pandemic. Despite the disease’s serious consequences, Hau Giang has considerably improved the business climate and generated investment. The number of newly-established businesses and the total investment capital climbed by 9% and 35% respectively in comparison to the previous year.

In order to achieve these laudable results, apart from the province’s geographic convenience, local authorities have worked tirelessly to encourage and create advantageous conditions for investors in Hau Giang. Undergoing 30 years of transformation, Hau Giang, which split from the former Can Tho province, is considered the heart of the region. The province enjoys various advantages in agricultural and aquatic raw materials; convenient transportation infrastructure with many artery traffic routes, airports, and seaports; and abundant labor resources.

Hau Giang also has the highest level of investment incentives in the region, with seven out of eight district-level administrative units experiencing extremely severe socio-economic conditions, as well as one unit facing disadvantaged socio-economic conditions.

In order to attract investment and expand business operations, the province has implemented a number of favorable policies, including exemptions and reductions for corporate income tax, land rent, and other taxes, among others. Several policies and solutions have been implemented at the same time in order to mobilize and attract investors and provide them with favorable infrastructure to run their business.

More importantly, the province’s leaders and functional agencies at all levels have changed management thinking to wholeheartedly support businesses. The following are four major efforts made by the province behind its upbeat performance over the past.

Firstly, they attach importance to reviewing and simplifying administrative procedures, establishing a public administrative service center, implementing various online public services at levels 3 and 4, and making the list of projects attracting investment publicly and transparently, to name a few.

Secondly, Hau Giang is one of the leading provinces in the region in assessing the District and Departmental level Competitiveness Index (DDCI); establishing specialized teams to quickly solve and assist issues related to investment promotion, trade promotion, and with export, etc.

Thirdly, many mechanisms and policies to assist investment enterprises are implemented. In which, investors are given the highest incentives and are required to perform their obligations at the lowest level possible.

Last but not least, the province regularly hosts meetings to listen to business's and people’s thoughts and aspirations, thereby promptly solving their difficulties and proposals.

Hau Giang opens the door to lure post-pandemic investmentBusiness continues their activities amid the COVID-19 pandemic.

Three major tasks

In the coming time, Hau Giang is determined to complete three major tasks so as to develop the socio-economy in general and attract local and foreign investment in particular.

Firstly, the province should develop and efficiently implement the Master Plan for the 2021-2030 period, with a vision toward 2050. Priority should be given to mobilizing investment resources to build and complete infrastructure in industrial zones and industrial clusters in order to establish a clean land fund, and develop important waterway transportation infrastructure connecting neighboring localities with Hau Giang.

Regarding transport infrastructure development, Hau Giang targets to complete and put into use invested plans such as Provincial-level Road 931 from Vinh Vien town to Xeo Vet bridge, provincial-level Road 926B connecting Hau Giang’s Quan Lo - Phung Hiep route with Soc Trang province, a road connecting Nga Sau town to the South of the Hau River 3B, provincial-level Road 927 with a section from Phuong Binh commune to Cay Duong town, etc.

Meanwhile, Hau Giang will also carry out ten major road projects, with total investment of more than VND 10,700 billion, while calling for investment in the form of public-private partnership (PPP) in other possible traffic projects passing through the province’s urban areas, with total investment of more than VND 3,000 billion.

Secondly, Hau Giang continues to establish and implement local regulations and policies, particularly mechanisms and solutions to further attract investment and develop a business climate in a preferential, competitive, and easily accessible manner with a low-cost strategy.

Finally, administrative reform must be seriously implemented in accordance with building e-government and digital transformation of sectors and fields; increasing the application of information technology in all socio-economic activities; improving the province’s competitiveness index raking and constructing a streamlined government apparatus from the provincial level down to the grassroots level, operating transparently, effectively and efficiently under the motto of accompanying, and serving people and businesses.