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  • News
  • 28 July 2021

Can Tho strives to attract investment

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Can Tho city focus on synchronously building economic and technical infrastructure, developing concentrated industrial parks to form large-scale and highly efficient industrial complexes.

According to the Ministry of Planning and Investment, in the first five months of 2021, the whole country has 613 new foreign direct investment projects that have been granted investment registration certificates with a total registered capital of nearly $8.83 billion, 18.6% over the same period last year. Can Tho rank third with the O Mon II Thermal Power Plant project of Japanese investor with a capital of 1.32 billion USD. This project has a capacity of 1,050 MW, which is the largest foreign-invested project in Can Tho.

The biggest bottleneck affecting the socio-economic development in general and attracting investment of the Mekong Delta region is the limited transport infrastructure in the area. However, soon, this bottleneck will be cleared with a series of important traffic projects completed, put into use, and implemented. Since then, opening up great opportunities to attract locals in the Mekong Delta region is considered to have excellent development potential, especially Can Tho city, the region’s center.

The city has 82 FDI projects managed by the local government, with a total registered capital of about 2 billion USD. The Provincial Competitiveness Index (PCI) results from 2016-2020, Can Tho is in the fantastic group. In 2019, it was in the excellent group. In 2020, scores and ratings decreased slightly compared to 2019, but some component indexes had slight increases in scores, such as time costs, informal costs, equal competition, market-entry costs.

In particular, Can Tho City is urgently planning to adjust the O Mon – Can Tho Industrial Park (with an area of ​​500 ha, in Truong Lac Ward, O Mon District) and Vinh Thanh Industrial Park (with an area of ​​900 ha; in Vinh Trinh commune, Vinh Thanh district) has just been approved by the Prime Minister to add the master plan to the master plan on development of industrial zones.

Mr. Tran Viet Truong – Chairman of Can Tho City People’s Committee – acknowledged that investment attraction had not changed yet. Many investors are looking for it but have not yet decided to officially invest in massive investors. There are still many problems in the investment procedures, losing the priority of investors. In addition, the Chairman of Can Tho City People’s Committee also pointed out that some departments, agencies, and sectors have stagnated in implementing the direction of the City People’s Committee, especially in cases related to investment projects and projects.

Source: nld.com