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26/02/2020 - 08:54

Industrial zones contribute to economic restructuring

Industrial zones in Long An province increasingly play an important role in socio-economic development, contributing to economic restructuring in the direction of increasing the proportion of industry and attracting investment, especially in foreign investment and export promotion.

Industrial zones attracted 175 new projects in 2019

Long An currently has 16 industrial zones in operation with a total planning area of 3,777 hectares; in which, the area of industrial land that can be rented is over 2,649 hectares, the area of rented industrial land reaches 2,277 hectares, accounting for nearly 86 percent.

In 2019, the industrial zones attracted 175 new projects, including 118 FDI projects and 57 DDI projects with a total new investment capital of 237 million USD and 8,217 billion VND. Compared to 2018, the industrial zones attracting FDI projects increased by 42 percent, but DDI projects decreased.

Therefore, up to now, the province has attracted 1,525 investment projects, including 734 FDI projects and 791 DDI projects with an investment capital of over 4.1 billion USD and 85,048 billion VND.

The business results of the enterprises in the following years are always higher than the previous year

Long An Economic Zone Management Board always maintains the investment promotion. The unit has completed the implementation of the brochure to introduce the investment environment into economic zones and industrial zones of the province in English and Vietnamese. The support of providing information about the industrial zones, ready-built factories, preferential policies for investors is also carried out. 

Contributing to the economic restructuring

In 2019, the industrial zones in the province have 40 more new businesses in operation, bringing the total number of active enterprises to 904 enterprises (or projects); including 411 FDI enterprises (or projects) with a total investment capital of over 1.87 billion USD and 493 DDI enterprises with a total investment capital of 18,104 billion VND. In addition, 46 warehouse projects and 46 factory rental projects are in operation.

The business results of the enterprises in the following years are always higher than the previous year. The industrial zones have attracted large-scale investment projects in the field of industrial production, contributing to improving their operational efficiency, gradually asserting that Long An province has gradually met better to the infrastructure requirements for the enterprises, especially foreign enterprises.

Accordingly, the 2019 revenue of FDI enterprises reached 1.872 billion USD, up 3.63 percent; DDI enterprises reached 24,050 billion VND, an increase of 1.78 percent compared to 2018. The enterprises also contribute relatively high to the state budget. FDI enterprises paid more than 53 million USD; DDI enterprise paid 1,011 billion VND.

Export turnover of FDI and DDI enterprises reached 1.458 million USD, contributing more than 25 percent of the total export turnover of enterprises in the province. In particular, the export turnover of FDI enterprises reached 1.267 billion USD, up 16.96 percent compared to 2018 and contributed nearly 87 percent to the total export turnover of both FDI and DDI. Besides, the import turnover of FDI and DDI enterprises reached 991 million USD.

In 2019, the Economic Zone Management Board has well implemented administrative reform. During the year, the unit received nearly 5,000 records of all kinds, the rate of records resolved on time reached 100 percent, improving the satisfaction of organizations and individuals, contributing to improving the provincial competitiveness index in 2019 as well as the following years.

The support investors in industrial zones to solve their problems in compensation and site clearance for infrastructure construction is a major difficulty of the unit. Currently, the unit is focusing on supporting infrastructure investors in the industrial zones of Hoa Binh, Duc Hoa I, Tan Kim (expanded), Dong Nam A, Long Hau 3 (phase 1), Phuoc Dong wharves and DNN - Tan Phu. Performing well the compensation and site clearance will increase the industrial land fund to attract investment and the occupancy rate of the industrial zones./.

By Mai Huong - Translated by Pham Ngan