What are the province’s major advantages that are conducive to investor success?
As a part of the Mekong Delta with a favourable climate and fertile soil, Hau Giang has a lot of potential for agro-seafood processing – which can capitalise on the plentiful material resources in the region.
Rice covers 78,000 hectares in the province, generating an annual output of 1.2 million tonnes. Speciality food crops spread over 36,000 hectares, which produce an annual output of 290,000 tonnes. The province is also home to 2,000 hectares of pineapple farmland and about 13,000 hectares of sugarcane fields, of which the latter churns out an annual output of nearly 1.5 million tonnes.
The province’s speciality agricultural products have gained brand recognition, and many of them are registered for trademark protection. Phu Huu grapefruit, Long Tri sweet mandarin, Cau Duc pineapple, Hoa Loc mango, and Hau Giang rice are all recognisable appellations among local consumers.
Despite having abundant material resources and a strong workforce, the provincial processing industry has yet to be developed to its full potential. Although it has many small operations, the province does not have a large-scale processing plant.
In addition to processed sugar, higher value-added products like confectionery or soft drinks can be made with the potential to generate three to four times the amount gained from the sale of sugar. Furthermore, plywood or micro-fertilisers can be processed out of sugarcane by-products, but the province still lacks the capabilities to produce these items.
A condensed pineapple juice processing plant could also benefit the province, but despite its large pineapple output, such a plant has yet to be built.
The seafood industry is where the province holds a competitive advantage – with 11,000 hectares of aquaculture area that generates an output of 71,000 tonnes per year. The demand for seafood products has increased steadily in both domestic and international markets, and its large population makes Vietnam a great market for seafood producers. The projects on aquaculture, processing, and seaport sectors in the province prove promising for investors.
As far as tourism goes, Hau Giang’s panoply of tour offerings remain relatively untapped, with distinct natural attractions such as Viet Uc Indigo forest resort, Lung Ngoc Hoang nature reserve, Nga Bay floating market, and Spring Agriculture Centre, among others.
|With abundant natural resources and a healthy investment climate, the province is ready to make a leap|
What are other advantages Hau Giang can offer investors besides rich material resources?
Adjacent to the city of Can Tho, investment projects in Hau Giang enjoy convenient access to developed technical infrastructure and quality human resources from its urban neighbour.
As most of the area in the province is specified as having difficult conditions for socio-economic development, investors in the province are entitled to major tax incentives and reduced rental rates as per current regulations.
Besides common incentives, Hau Giang has introduced some specific regulations to support investors, such as import-export tax breaks and a corporate income tax exemption for the first four years of operation – and a 50 per cent reduction for nine years thereafter.
The province has also enacted incentive policies in agriculture pursuant to Decree No.210/ND-CP dated December 19, 2013, and policy encouraging investment in high-tech agriculture.
What are the priority investment areas in Hau Giang province?
The province is pushing up land acquisitions and bolstering its infrastructure to serve investors. Some priority investment projects in the province are presented in the investment wishlist (see below).
How will the province support investors to boost investment efficiency?
We are stepping up efforts to build and complete industrial park infrastructure, and are creating a business environment that is conducive to investor success. In addition, an emphasis was placed on developing quality human resources based on enterprise demands. We provide refresher courses for labourers to help them become more qualified and meet the growing demand of businesses in the area.
As for management activities, the provincial leaders and those at authorised state agencies have been flexible in policy application, fast-tracking the country’s international integration process while maintaining a healthy competitive environment in the region to best serve investors.
We have also tried to rapidly and responsively deal with investor proposals through decentralised mechanisms to spark multi-way dialogues with the investor community. This helps us to troubleshoot investors’ impediments in a timely manner while creating a more transparent and enabling business environment. In Hau Giang, investors will receive the utmost support to ensure successful project implementation for future sustainable development.
And we consistently deliver on our slogan: “Wherever in the province businesses face difficulties, local authorities are there to assist.”