Adding Appeal to Industrial and Economic Zones

Investment flows to industrial and economic zones in Ha Giang province have increased in recent years. This magnetism comes from many effective solutions to facilitate and support companies with the principal motto of "Investors in Ha Giang are citizens of Ha Giang, the success of companies is the success of Ha Giang province”. Particularly, the first phase construction of Tuyen Quang - Ha Giang Expressway promises to open a new phase to draw investment capital into the province.

Wood processing in Binh Vang Industrial Park

Lying in the north of Vietnam, Ha Giang province, 320km from Hanoi, shares a 227-km border with China, with Thanh Thuy - Tianbao International Border Gate, secondary gates, trails, crossings and openings on the border. This is likened to a wide gate for companies in the province to reach the most potential and populous market in the world. In addition, abundant labor resources, with 76% of people at the working age; rich metal and nonmetal resources; profound water resources for developing small and medium hydropower plants; agricultural, forest materials and medicinal herbs for processing industries are favorable conditions for domestic and foreign firms to tap and reap success.

Ha Giang currently has Thanh Thuy Border Gate Economic Zone and Binh Vang Industrial Park. Covering 28,781 ha across seven communes: Thanh Thuy, Phuong Tien, Thanh Duc, Xin Chai, Lao Chai, Phong Quang (Vi Xuyen district) and Phuong Do (Ha Giang City), Thanh Thuy Border Gate Economic Zone attracted 41 projects with VND1,195.61 billion as of June 15, 2023, accounting for 98.33% of cleared land. Binh Vang Industrial Park, 254.77 ha in area, is divided into two investment phases. The first phase, 142 ha, already completed site clearance and infrastructure construction. As of June 15, 2023, it attracted 25 projects with VND3,653 billion of investment capital and leased 84.39% of the rentable area.

Hoang A Chinh, Director of Ha Giang Economic Zones Authority, said: The formation and development of industrial parks and border gates plays an important role in economic restructuring, helping boost economic growth and budget revenue growth for the province. At the same time, this produces a positive impact on the formation and development of local services (finance, banking, accommodation, food catering, etc.) and creates stable jobs and livelihoods for people. Moreover, the huge amount of domestic and foreign investment capital has helped accelerate provincial industrialization and modernization and catalyzed a sharp increase in industrial value, import and export value in the province.

Workers load and unload goods for export at Thanh Thuy border gate economic zone

In the coming time, to add the appeal to industrial and economic zones, the authority will focus on many solutions: Formulating and adjusting plans; coordinate with relevant bodies to review and adjust the general planning of Thanh Thuy Border Gate Economic Zone to 2030 (approved by the Prime Minister in Decision 125/QD-TTg) after the Prime Minister approves the revision policy; working out the zoning plan for Phuong Tien commune; submitting zoning plans and detailed plans of Thanh Thuy Border Gate Economic Zone to the Provincial People's Committee for decision; reviewing and revising approved detailed construction plans for industrial parks and economic zones.

At the same time, the authority will continue to review late or likely-late projects and send warnings to their investors; attract investors into vacant land lots in industrial parks and Thanh Thuy Border Gate Economic Zone; and instruct and support them to prepare and carry out their projects and tackle emerging issues.

Specially, the authority will oblige its employees to improve their quality, competences and behavior skills in public service, especially those assigned to receive administrative procedures; continue to review and reduce the time needed to resolve administrative procedures, increase support for companies to improve the business environment; strive to handle all administrative procedures in time; seriously reform contents and forms of investment promotion documents; regularly update information on investment policies, land availability, master plans, zoning plans, detailed plans, investment approaches, labor resources, infrastructure and projects in need of investment capital on relevant websites which are accessible to investors.

“Given post-COVID-19 economic recovery and the shift of investment flows, particularly strongly increased foreign fund into Vietnam (according to the Foreign Investment Agency - the Ministry of Planning and Investment), foreign investors registered to invest US$10.86 billion in Vietnam in the year to May 20, including more than US$5.26 billion from fresh projects, up 27.8% year on year. This is an opportunity to woo investors into Ha Giang province-based industrial and economic zones,” said Director Hoang A Chinh.

Source: Vietnam Business Forum