Increase investment promotion efficiency in key markets

Provincial leaders meet US Minister of Transportation on the sidelines of APEC in San Francisco, USA (Photo: Vo Huy)

Long An is an attractive and effective destination

According to Minister of Planning and Investment - Nguyen Chi Dung, in the current context, although there are difficulties and challenges, many international corporations and enterprises have been looking for investment locations to diversify the supply chain. In particular, Vietnam is evaluated by international organizations as an attractive and safe destination.

Long An has many advantages with investment environment, because it is located in the Southern Key Economic Region and has an important strategic position in connecting Ho Chi Minh City with the Mekong Delta. The province focuses on investing, upgrading and perfecting infrastructure, especially transportation infrastructure, forming intersections connecting inter-regional transportation systems, connecting industrial zones and clusters with Ho Chi Minh City and adjacent provinces. Administrative reform work was also directed drastically and made significant progress. The Provincial Competitiveness Index (PCI) ranked 10th out of 63 provinces and cities. Many prestigious international organizations, businesses, and experts highly appreciate the results of the province's administrative reform implementation.

In addition, Long An is one of the localities at the center of the Covid-19 but soon controlled the epidemic, successfully implementing the dual goal of both disease prevention and control, economic recovery and development. In particular, after the Covid-19 epidemic, the province's economic growth has always been stable. This helps the province receive resonance in industrial and urban development and become a truly attractive investment destination for many investors, especially foreign investors.

In the province, there are currently 16 industrial parks, 21 industrial clusters and nearly 15,000 hectares of industrial land that can attract investment. In the first 10 months of 2023, the number of foreign investment projects increased in both number and capital. Accordingly, the province granted permission for 95 new projects (an increase of 47 projects) with a total new registered capital of 556 million USD (an increase of 235 million USD). In addition, there are a number of projects to increase capital.

To date, the whole province has 1,228 foreign investment projects from 40 countries and territories, with a total registered capital of over 10.5 billion USD. The increasing number of foreign investment projects proves that the province is truly a leading and reliable destination. Long An has large projects from investors with global brands such as Pepsi, Coca-Cola, Avery Dennison, Lotte, etc.

Proactive and ready to attract strategic investors

Provincial leaders visit the Havana Fair, Cuba in 2023 (Photo: Vo Huy)

According to Department of Foreign Affairs, recently, the Department has promoted activities connecting international cooperation in various fields with foreign localities to create conditions for investment promotion. The Department coordinates well with relevant departments and branches to successfully organize meetings, conferences, dialogues, support businesses, investment promotion and labor promotion delegations with foreign partners, building image, introducing environment, policies, potential, opportunities for investment connections.

Since the beginning of 2023, the province has successfully organized many delegation to China, Japan, Korea, Cuba, the United States, etc. Through these trips, provincial leaders and enterprises have signed many memorandum of understanding as well as established official cooperative relationships with many international localities on investment cooperation, trade promotion, and labor supply.

For example, in November 2023, in Los Angeles City (USA), a Conference connecting Vietnamese and American businesses was held by the Vietnam Confederation of Commerce and Industry (VCCI) in coordination with the Los Angeles Regional Chamber of Commerce and foreign investment promotion organizations. The conference was attended by the Long An Provincial Delegation and leaders of US corporations, businesses, and entrepreneurs in the fields of high-tech industry, digital transformation, export, import, services, logistics, and education, etc.

Within the framework of the conference's programs, leading experts from foreign trade and investment organizations and associations shared experiences to help Vietnamese businesses build appropriate business strategies to penetrate the US market strongly and comprehensively. US businesses and investors also exchange and discuss directly with leaders of Long An province. Through exchanges, they highly appreciated the province's investment environment and pledged to prioritize research and investment in Long An.

In addition to the United States, at overseas investment promotions by provincial leaders, business communities, consuls general, and commercial counselors in many countries and territories around the world, they all highly appreciate the investment environment in Long An, discussing many solutions and promoting links between parties, creating more cooperation and investment relationships.

Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee - Nguyen Van Ut said that investment promotion activities are focused and urgently implemented both domestical and abroad to help the province attracts investment and connect trade. Through investment promotions, Long An achieved many positive results, as more businesses came to learn about the investment environment.

The province is prioritizing attracting foreign investment in key areas such as 4.0 automation, manufacturing components - electronic equipment and software, semiconductor industry, artificial intelligence; smart ecological urban areas; logistics seaport services;digital economy; etc, toward the sustainable socio-economic development of the province associated with increased domestic production as well as exports.

Mr. Nguyen Van Ut also shared that in the process of attracting investment, the provincial government also selectively attracts and cooperates with foreign investment, prioritizing quality, efficiency, technology and environmental protection. Currently, the province actively supports investors, especially infrastructure investors, to speed up the progress of site clearance, infrastructure construction, and prepare the necessary conditions to welcome the investment wave, including clean premises, infrastructure, energy, skilled labor supply, capacity for domestic enterprises to participate in the value chain with foreign investment enterprises./.

By Gia Han - Translated by Q. Thien

Source: https://baolongan.vn/tang-hieu-qua-xuc-tien-dau-tu-vao-thi-truong-trong-diem-a168786.html