Business Business

15/03/2021 - 10:21

Turning Chan May - Lang Co into an attractive destination for investors

Chairman of the Provincial People's Committee - Phan Ngoc Tho made this claim at a recent inspection of the production and business activities of a number of enterprises in Chan May-Lang Co Economic Zone (CM-LC EZ).

Chairman of Provincial People's Committee - Phan Ngoc Tho visiting Sujiin AT&C Vina Textile Factory

The appearance changing

Chairman of the Provincial People's Committee Phan Ngoc Tho directly examined the production and business situation of a number of projects that have been and are about to go into operation in CM-LC EZ. Currently, in the CM-LC EZ, there are factories and workshops in operation; the appearance of the EZ is changing day by day.

Among the factories is Bilion MAX Vietnam Export Processing Factory which employs more than 1,500 workers and has acquired revenue. Currently, there are dozens of projects in operation at CM-LC EZ. Particularly at the Industrial Park and Non-tariff Area in CM-LC EZ, there are 5 large projects, renting 27ha of land to build factories and operating at a total value of more than 50 million USD.

Mr. Nguyen Duy Hung, General Director of Saigon-Hue Investment Joint Stock Company, the investor of the Industrial Park and Non-Tariff Area in CM-LC EZ said that in 2020, despite the impact of COVID-19 epidemic, the company has negotiated with 7 prominent investors from the United States, Japan, South Korea and Europe with a total value of more than 160 million USD, mainly in the fields of manufacturing using high technology and new technology. The investors are willing to sign agreements with the land lease company to implement projects. Currently, the company has a strategy to develop land fund and invest in infrastructure construction, in order not to miss out on the opportunities to attract investment.

Workers at Bilion Max Vietnam Export Processing Factory specializes in producing children's toys for export in Chan May - Lang Co

During the visit, the investors and business owners propose accelerating construction projects in constructing the infrastructure of industrial parks and non-tariff zones in CM-LC EZ. This would create a land fund for secondary investors and improve the appeal for investment in this area.

In particular, the province needs to consider and flexibly apply regulations of the Ministry of Health on isolation of foreign investors and experts so that new investors can come to examine and survey investment locations in the context of the ongoing COVID-19 epidemic.

Director of the Provincial Management Board of the Industrial Economic Zone- Le Van Tue said that, in order to meet the criteria of CM-LC economic development to ensure sustainable development, economic development must go hand in hand with preservation and protection of the ecological environment. Currently, the EZ is implementing the construction of the drainage and wastewater treatment system of the Industrial Park and the Non-tariff Area to meet the needs of wastewater treatment for projects in the industrial park, non-tariff zone, and tourist resorts; as well as garbage and solid waste collection and treatment in the EZ. At the same time, resources are invested in infrastructure construction to ensure the best conditions for factory construction and operation. 

The growth agent of the key economic region

During his visit, Chairman of Provincial People's Committee Phan Ngoc Tho directed the functional units to create the most favorable conditions for investors

Chairman of the Provincial People's Committee - Phan Ngoc Tho acknowledged that the projects invested in the CM-LC EZ are highly feasible, using new technology that is environmentally friendly, and making a significant contribution to the local socio-economic development and creating thousands of jobs. Investors are committed in meeting the project progress and fully fulfilling financial obligations.

Chairman of the Provincial People's Committee - Phan Ngoc Tho has assessed that the investment in infrastructure projects in the CM-LC EZ are efficient and that the appearance of the economic zone has changed markedly. He also acknowledges the outstanding socio-economic development in the area, and that the transport infrastructure, electricity supply, water supply, communication and other social infrastructure have been gradually completed. All of this has initially met the internal circulation needs in the EZ and enhancing connection between function zones.

“Currently, the province is intent on developing the CM-LC EZ towards becoming the growth agent of the central key economic region. The focus is on developing tourism, service development and spearhead industries, eco-friendly industries and high-tech industries. Priority is given to the development of economic, trade, tourism, urban areas and other branches associated with Chan May port. Development of CM - LC EZ must also ensure sustainability, and that economic development goes hand in hand with preserving and protecting ecological environment,” Chairman of Provincial People's Committee emphasized.

The Chairman of the Provincial People's Committee also asked the leaders of the Management Board of the Industrial Economic Zone, Phu Loc District to have specific solutions to recruit human resources for factories in the area. It is necessary to continue reviewing and examining proposals of investors and enterprises to provide more land funds for the expansion of production and business scale. Attention must be paid to to synchronous economic infrastructure development. In the near future, the province will carry out investment promotion, especially with strategic investors to create zest for the CM-LC EZ.

Story and photos: Thai Binh