Trà Vinh Province continues to solicit investment to boost economy

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Trà Vinh continues to solicit investment to drive its economic recovery. — VNA/VNS Photo

TRÀ VINH — The Cửu Long (Mekong) Delta province of Trà Vinh will “continue to roll out the red carpet” to investors in sectors in which it has strengths, including the maritime economy, to drive its economic recovery, according to its officials.

Lâm Hữu Phúc, deputy director of its Department of Planning and Investment, said efforts to promote the province’s potential and preferential policies had almost stalled due to COVID-19, but thanks to indirect investment promotion activities, it has attracted 16 domestic projects with a total investment of more than VNĐ10.32 trillion (US$450.4 million) and one FDI project worth $25 million.

The activities included sending a delegation to the Japanese consulate general in HCM City to introduce projects seeking investment so that it could spread these information to Japanese firms, he said.

The province had set up a website in Vietnamese and Japanese to provide detailed information about projects and its investment policies, he said.

Trà Vinh officials had also taken advantage of virtual investment and trade seminars held by ministries and other central agencies with the Middle East, India, Bangladesh and others to introduce investment opportunities in the province, he said.

The province had developed detailed plans for soliciting investment in 2022, he said.

It would organise an investment promotion conference, participate in conferences and seminars on investment held by ministries and other provinces to intensify co-operation and keep its website user-friendly and up to date to provide information about the province and its investment attraction policies, he said.

People’s Committee Chairman Lê Văn Hẳn said the pandemic had caused difficulties for the province not only in attracting investment but also in all socio-economic development areas.

So, in 2022, it would need to attract investment to promote development, create jobs and ensure social security, he said.

The province is soliciting investment in wind power, marine transport services, logistics, and aquaculture and seafood processing among others, and offering incentives to investors, according to the chairman.

The incentives cover taxes, land use fees, land acquisition and compensation payment, and interest rates on bank loans, he said.

The province would walk hand in hand with businesses and amend mechanisms and policies wherever needed to help them overcome difficulties, he promised.

Trà Vinh is home to 382 projects worth US$8.38 billion, including 41 foreign projects with an investment of $3.1 billion. VNS

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