At the back of the COVID-19 epidemic, investment attraction into industrial zones and economic zones in Tay Ninh province has made much progress, especially foreign direct investment (FDI). Currently, the province is focusing on planning construction and expansion of industrial zones to meet development requirements and investment attraction in the coming time.
Phuoc Dong Industrial Park, Tay Ninh province
Tay Ninh province is currently home to six industrial parks and Moc Bai Border Gate Economic Zone with a total planned land area of 4,067.11 ha. The six industrial parks have a total area of 3,493.3 ha, including 2,616.61 ha of rentable area, of which 1,721.27 ha was leased to tenants, or 65.78% of the total area. Hiep Thanh Industrial Park, planned to cover 573.81 ha, was not officially established.
Currently, the technical infrastructure system in operational industrial parks (roads, lighting systems, water supply networks and wastewater treatment facilities) has been completed to serve their tenants. As of March 31, 2023, local economic and industrial zones attracted 378 valid investment projects (including 281 FDI projects and 97 domestic projects) with a total registered investment capital of US$8.42 billion and US$21,298.28 billion (US$900 million), of which 291 projects are operating and employing 134,224 workers.
Mr. Le Thanh Kiet, Deputy Director of Tay Ninh Economic Zones Authority, said, the formation and development of industrial zones plays an important role in shifting the local economic structure, with an increasing share of industry in the gross regional domestic product (GRDP), and helps accelerate economic growth, expand local budget revenue, and create a new infrastructure system inside and outside industrial parks with long-term value. In addition, industrial parks produce a positive impact on the formation of new urban areas and the development of local services (such as finance, banking, accommodation, food and beverage), create stable jobs for people, and improve people's intellectual level and quality of life. They have attracted a large amount of domestic and foreign investment capital for more rapid industrialization, modernization, import and export in the province.
Moc Bai International Border Gate
Local industrial zones currently have over 300 ha of rentable land for investment projects, he said. The Tay Ninh Economic Zones Authority advised the Provincial People's Committee to ask the Prime Minister and central authorities to add new and expanded industrial parks to the Tay Ninh Industrial Zones Development Plan in 2021-2030 and to 2050. According to the plan, Tay Ninh will have two new industrial parks and one expanded park with a total proposed land area of 3,944ha to meet development requirements, as well as prospective investment inflows.
At the same time, the authority will actively promote infrastructure companies to complete technical infrastructure systems in industrial parks as planned; strengthen investment promotion while accelerating administrative procedure reforms and facilitating operations of enterprises; and speed up planning adjustment to Moc Bai and Xa Mat border gate economic zones according to new directions. Moc Bai Border Gate Economic Zone is designed to become a new driving force and growth engine with strong regional and international competitiveness; an important trade hub of Ho Chi Minh City, the Southeast region and the Southeast key economic region between Vietnam with Cambodia and ASEAN; a center of border gate services, international container transshipment and logistics services; and a center of finance, trade, and border services in the Southeast region. Moc Bai will be a destination for high-tech industry, green industry, sustainable smart city, international connections, and environmental sustainability. It will meet new requirements in the national defense and security strategy, socioeconomic development objectives, cross-border economic, social and cultural cooperation and exchange, as well as border peace and friendship for mutual development.
By Duy Anh, Vietnam Business Forum
Vietnamese
October 2024
Hanoi