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|An Giang has benefited from a raft of investment projects, and with the support from the government it can take further advantage of its strengths|
Since the beginning of 2016, An Giang has courted a total of 234 investment projects, consisting of six foreign-invested and 228 domestic projects, worth VN50.45 trillion ($2.2 billion) in total committed capital. Compared to the previous period from 2011 to 2015, the number of projects jumped 15.8 per cent and total investment volume was doubled by an additional VND25.34 trillion ($1.1 billion).
|Le Van Phuoc, director of the An Giang Department of Planning and Investment|
Investment sources have contributed greatly to the provincial social and economic upswing. Annually, registered capital volumes of domestic and foreign-invested projects make up about 48 per cent of the province’s total and triple over public investment sources. Large-scale projects in agriculture and tourism have become a driving force to spur provincial growth as well as the transformation of the local economic structure, with enhanced export value and budget contribution, as well as job creations to benefit local labourers.
In the upcoming investment promotion conference, to take place on December 15, local leaders will approve proposals of 25 projects from 19 investors with total investment capital of VND27.5 trillion ($1.2 billion). Simultaneously, eight project proposals of seven investors worth about VND60 trillion ($2.6 billion) will be given memoranda of understanding (MoUs) on the occasion.
Boosting high-tech agriculture
An Giang has attracted and approved proposals of a raft of sizable projects in agriculture, particularly of a high-tech nature, in recent years. Some of the most notable are the FAM-An Giang high-tech agriculture scheme over 216 hectares and valued at VND208 billion ($9.04 million) in Thoai Son district’s Binh Thanh commune with FLC Group; VND200 billion ($8.7 million) seafood hatchery project over 160ha in Tan Chau town with Viet Uc Seafood JSC; and a VND2 trillion ($87 million) high-tech agriculture zone over 500ha in Tri Ton district’s Tan Tuyen commune with Lu Gia Green Agriculture Limited. Also on the list are a VND4.95 trillion ($215 million) Mekong Vina production complex in Thoai Son district involving Vuong Dinh Investment Trade Limited; a VND2.7 trillion ($117 million) rice processing plant in Chau Phu district in conjunction with Ngoc Thien Phu Rice Export-Import JSC; a VND1.1 trillion ($47.8 million) rice export project in Tri Ton district through Hanh Phuc An Giang Rice Processing JSC; a VND308 billion ($13.4 million) venture on bio-products in Tinh Bien district with HTH Construction JSC, and a VND950 billion ($41.3 million) hi-tech tra fish complex by Loc Kim Chi Development Limited in Chau Phu district’s My Phu commune.
Significantly, the An Giang People’s Committee has approved a proposal allowing major private fresh milk producer TH Group to carry out its dairy development project in Tri Ton district, to consist of a 100ha dairy farm, 900ha core material area and 3,000ha field, forming co-operation with local farmers to grow materials with a total investment value of VND6 trillion ($261 million).
Besides, An Giang has signed an MoU with Singaporean firm Rice Growers Singapore Pte (Sunrice) to develop the Japonica sustainable paddy rice value chain through research and production of commodity rice following international standards, as well as creating value added products from paddy rice by-products.
|The Tra Su indigo forest is one of the most famous tourist destinations of the province, Photo: Huu Truc|
Availing of big tourism potential
In recent years, to utilise the province’s abundant potential, An Giang has scaled up image promotion and succeeded in wooing investment capital from diverse businesses inside and outside the province.
Most sizable projects are those on building the VND748 billion ($32.5 million) Tra Su Eco-resort in Tinh Bien district’s Van Giao and Vinh Trung communes involving An Giang Tourism JSC; creating a VND686 billion ($29.8 million) Nui Sam Resort in Chau Doc city with MGA Limited; and developing a VND2.4 trillion ($104.3 million) the Chau Doc city trade services and tourism centre through Hai Den Trade Services Export Import Limited, to name but a few. These factors attest to An Giang’s big potential for services and tourism sector development. In recent times, major private groups like FLC, T&T, and Phu Cuong have exhibited a keen interest towards doing business in the province. These investors are expected to soon come up with large-scale projects focusing on building new urban areas, smart urban infrastructure management, mixed-use developments and resort venues in An Giang.
The location has enormous potential for further funding development. Actual investment value, however, remains modest compared to the provincial’s potential. To lift development, local leaders are committed to taking strong measures to ameliorate the investment climate and push up administrative procedure reforms, particularly in administrative procedures. Investors doing business in the province will receive active support to fast-track procedures for market entry, to access capital sources, to acquire space and human resources support in order to soon bring their projects into play and ensure smooth implementation, thus turning the province into a reliable and attractive venue for domestic and international investors.
Part of the Mekong Delta, An Giang covers 3,357 square kilometres and has more than 2.15 million people. The province shares a near-100km border with Cambodia, and consists of two international border crossings (Tinh Bien and Vinh Xuong), two national border crossings (Khanh Binh, Vinh Hoi Dong) and a further two subordinate ones (Bac Dai and Vinh Gia), creating continuous border trade flows.
An Giang belongs to the Mekong Delta’s major economic zone, linking to the three major development hubs of Ho Chi Minh City, Can Tho, and Cambodia’s capital of Phnom Penh.
Situated in the region’s riverhead sector, An Giang offers tremendous potential in agriculture and tourism. The province’s main staple is rice. For years, the province has been known for dynamism in creating new production models, helping to boost product value and incomes for local farmers and investors. Besides rice, An Giang’s aquaculture has been strongly developed. The province is proud of cage-based fish farming to feed the domestic market, and tra fish farming and processing for export to serve growing market demands.
Not only that, An Giang is home to a multitude of nationally-recognised historical and cultural heritage sites, as well as tourism attractions including 28 nationally-classified sites and two specially-classified sites of national significance.
One commemorates late President Ton Duc Thang and the other is the Oc Eo archeological site, featuring many unique exhibits to attract domestic and foreign visitors and researchers.
This overflowing potential has created the province’s distinction in attracting investment in order to propel local socio-economic development.
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