State President - Nguyen Xuan Phuc (4th, from left) surveyed the construction site of LNG Long An I and II Gas Power Project
Leading in attracting FDI inflows
In the last days of March, Long An officially granted the investment registration certificate for LNG Long An I and II Gas Power Project invested by VinaCapital GS Energy Pte. Ltd (Singapore). The project covers an area of about 90 hectares in Phuoc Vinh Dong commune, Can Giuoc district. Accordingly, the project's capacity is 3,000MW, including 2 combined cycle gas turbine plants, each plant has a capacity of 1,500MW, registered investment capital is up to 3.1 billion USD. After being awarded the investment certificate, the Investor continues to take the next steps to start construction, expected to start operation and exploitation in December, 2025. The project is expected to be put into operation, reducing the financial burden on Vietnam Electricity (EVN) in developing new power sources. According to the investor, when the two factories are in operation, annual revenue is expected to be about 40,000 billion VND. Thereby, promoting the formation and development of infrastructure works in Can Giuoc district as well as Long An province.
At the survey of the gas power project, the State President - Nguyen Xuan Phuc (in March, the Prime Minister) highly appreciated the support and close coordination of the local authorities, investors and ministries and sectors involved in the certification of investors. It is this close coordination that is a solid foundation, promoting the construction of the LNG Long An I and II Gas Power Plant on schedule.
According to statistics from the Ministry of Planning and Investment, as of March 20, 2021, the total newly registered capital, adjusted and contributed capital, and purchased shares of foreign investors (FDI) in Vietnam reached 10.13 billion USD. In terms of investment locations, Long An is the leading locality with a total registered investment capital of nearly 3.2 billion USD, accounting for 32.1 percent of the total registered investment capital of the country. In which, LNG Long An I and II Gas Power Plant Project has the largest registered capital, with over 3.1 billion USD. In addition to this project, in the first quarter, the province also granted investment certificates for 10 new projects and 6 additional capital raising projects. Up to now, the province has 1,111 FDI projects with a total registered capital of over 9.17 billion USD, of which there are 588 active projects, accounting for nearly 53 percent of the total number of registered projects, with a total capital of about 3,624 million USD, accounting for 39.4 percent of total registered capital.
Director of the Department of Planning and Investment - Huynh Van Son shared, besides FDI inflows, the province also attracts domestic investors with large capital. Quarter I-2021, the province granted investment certificates to 46 domestic projects with registered capital of 1,772 billion VND. Up to now, the whole province has 2,058 domestic investment projects licensed with registered capital of 245,272 billion VND.
Promote investment in infrastructure
Skretting Group invests in Long An in 2020 with the business of producing food for shrimp and fish. In early March 2021, the Group continued to expand its investment with the construction of a second phase factory in Thuan Dao Industrial Park (IZ), Ben Luc district. The representative of Skretting Group said that when the factory is officially put into operation, it will promote the aquaculture industry in Vietnam, especially the Mekong Delta region to grow stronger, to fully meet the export standards. to Europe. Explaining why to choose Long An for investment, the factory representative shared, the Mekong Delta is a key aquaculture area. Long An is a convenient gateway to transport food to other provinces and cities in the Mekong Delta region.
Chairman of the Provincial People's Committee - Nguyen Van Ut (in the middle) with the delegation of Korea International Cooperation Agency (KOICA), a Korean enterprise surveyed a number of key industrial projects in Can Giuoc district
Also in March, the Provincial People's Committee held a meeting and working session with the Korea International Cooperation Agency (KOICA) and the Korean business delegation to visit and learn the investment environment in Long An through the connection of Saigon Telecom Technology Joint Stock Company (Saigontel). After surveying a number of key industrial projects in Can Giuoc district, participating in the seminar on the topic "A friendly and efficient investment destination", the Korean delegation said, Long An has a lot of potential. breakthrough to become an attractive destination in investment and business development. Most of the province's key projects are located in areas with good transport infrastructure connections, which are favorable conditions for the Investor to quickly, effectively and profitable project deploy.
In recent years, the province has also been accompanied by investors in taking advantage of its advantages, turning Long An into a "golden position" in attracting investment because of its convenience in terms of both road and waterway, typically such as Phuoc Dong Wharf Industrial Park is invested by IMG Phuoc Dong Joint Stock Company. This location is only 42 kilometers from Tan Son Nhat Airport, 23 kilometres from Long An International Port, 43 kilometers from Cat Lai Port, 74 kilometers from Cai Mep Thi Vai Port. On the road, there is Provincial Road 826B going through the project, connecting to National Highway 50 connecting Ho Chi Minh City and other provinces and cities in the Mekong River Delta, the travel time from Ho Chi Minh City to the Industrial Park is less than 1 hour. Chairman of the Board of Directors IMG Phuoc Dong Joint Stock Company - Le Tu Minh shared, the industrial park has a total area of 128.8 hectares, including 92.39 hectares of industrial land, including ready-built factories and warehouses. In addition to the complete transportation system, the company is developing a waterway transport system with 4 wharves because this area has a length of more than 3 kilometers adjacent to the Vam Co river. Ports in the Industrial Park can receive ships of up to 20,000 DWT, transshipment to Western and international economic areas, in the planning of Vietnam's river port system.
Chairman of the Provincial People's Committee - Nguyen Van Ut said that the province always receives the attention and companionship of investors and private enterprises. Investors, businesses have been bringing methodical investment to industrial zones, industrial clusters in a new style with complete infrastructure, ready to receive secondary investment projects. The contribution of investors and enterprises makes an important contribution to the economic development of the province and region, creates jobs for many workers, increases budget revenues.
In 2021, the province strives to have over 1,500 hectares of clean land in industrial zones and clusters to attract investment, to welcome the wave of FDI moving to Vietnam after the Covid-19 epidemic. To achieve this goal, the province is speeding up the progress of industrial infrastructure projects, in which, focusing on investment in infrastructure projects outside the zone, industrial clusters such as traffic, electricity and water. In the period of 2021-2025, the province will focus on construction and expansion of many important transport projects connecting the province and other localities in the region. The province will mobilize capital of about 30,000 billion VND to invest in the construction of traffic projects in the area. In particular, priority is given to funding for 3 key projects and breakthrough projects according to the Resolution of the XIth Provincial Party Congress with the budget capital of over 18,000 billion VND and 12,000 billion VND mobilized from sources. other. In addition, the province also focuses on completing procedures to construct a number of important traffic projects in the area such as Provincial Road 827E, Provincial Road 830E, ... These projects, when completed, will connect smoothly. from industrial zones and clusters in key economic regions of the province to Long An International Port, Ho Chi Minh City and neighboring provinces.
Chairman of the Provincial People's Committee - Nguyen Van Ut affirmed that, in the coming time, Long An will continue to accompany the business, overcoming subjective limitations and difficulties from the locality and offering specific solutions. In addition, the province focuses on administrative reform, improving the investment and business environment, enhancing competitiveness, ... creating a good impression, urging investors to come to Long An. Thereby, increasing investment attraction, contributing to local socio-economic development.
The province always receives the attention and companionship of investors and private enterprises. Investors and businesses have been bringing methodical investment in industrial parks and industrial clusters in a new style with complete infrastructure, ready to receive secondary investment projects. The contributions of investors and enterprises make an important contribution to the economic development of the province and region, create jobs for many workers, increase budget revenues ".
Reported by Mai Huong
Translated by NT