Soc Trang People's Committee's chairman Huynh Thanh Hiep talks with reporters about the province's investment picture.
Soc Trang’s investment attraction has improved recently, but the province’s potential is much more than that?
The province covers over 3,300 square kilometres, equal to 8.05 per cent of the Mekong Delta’s area and 0.96 per cent of the country’s area. Being a lowland province with 72km coastline, and with three big rivers of Tran De, Dinh An and My Thanh, Soc Trang is greatly favourable for developing a sea-based economy covering aquaculture, sea-based agro-forestry, sea-oriented industry, fishing ports, import and export, tourism and sea transport.
Soc Trang also has a rich aquatic resources favourable for processing and export-oriented industries. Also home to many special festivals imbued with Kinh-Khmer-Chinese cultural traits and orchards, our province has good potential for eco-cultural tourism development.
The province’s road systems run through the Mekong Delta’s provinces and cities via the national road 1A, 60, the Quan Lo-Phung Hiep and South Hau river roads.
Soc Trang has many key projects for boosting regional socio-economic development until 2020 approved by the prime minister, such as the Long Phu thermo-electricity centre, Dai Ngai port, and An Nghiep, Tran De and Dai Ngai industrial parks.
During 2006-2010, we issued investment certificates to 240 projects located outside the industrial parks, with total disbursed sum of nearly VND26.5 trillion ($1.358 billion). They are mainly in aquatic farming, aquatic and agricultural product processing, construction and services.
In An Nghiep Industrial Park alone, which came into operation in 2005, there have been 37 licenced projects with total investment capital of VND3.33 trillion ($170.7 million), focusing in aquatic processing, animal feed production, manufacturing of home appliances and packing. So far, 63 per cent of the park has been occupied by projects.
However, there are only three foreign direct investment projects in the province, though many foreign investors have come to the province in search of investment opportunities.
In general, the province’s investment attraction has improved, but is not tantamount to the province’s big potential. It is due to weak infrastructure at locations home to projects, and site clearance challenges for projects, especially big ones, remain. Besides, the local staff’s capacity in investment promotion remains weak, coupled with low quality labour force and the province’s weaknesses in investment information propaganda. All of these have failed to meet investors’ requirements.
Meanwhile, the province is geographically far from big cities and key economic zones. Thus, it is difficult for us to lure investment.
What solutions will be taken to lure more investment into the province?
Firstly, investment information must be collected into a system in service of the province’s investment promotion. Besides introducing the province’s investment potential, socio-economic achievements and orientations, and investment incentives, the system will also detail the projects in need of investment.
Secondly, we will intensify the dissemination of the province’s information and image, investment potential and opportunities on websites, brochures and mass media. Specifically, Soc Trang is expediting the construction of a website named “Soc Trang - Potential and Opportunities for Investment” of www.ipc.soctrang.gov.vn, which could be read in Vietnamese and English. This will be a formal investment information channel for all investors and enterprises.
Thirdly, we are improving the capacity of those being in charge of investment promotion, their foreign languages and their capacity in adapting to the international integration process.
Fourthly, we will participate more in investment promotion events, exhibitions and fairs to promote the province’s investment potential and seek investors. We will also take the initiative in organising investment promotion events such as the Ooc-Om-Boc 2010 Fair in the middle of the 10th lunar month, the Investment Promotion Conference in this year or 2011 and the Rice Festival 2011.
Lastly, we will boost our cooperation programmes with Soc Trang and big cities like Ho Chi Minh City and Can Tho City, as well as the delta’s eastern and western provinces, in order to call for more local investment.
Also, we will take the initiative in approaching foreign investors via supports from donors, consulates and the southern Foreign Investment Centre. With such solutions, I do believe that Soc Trang will make a breakthrough in investment attraction in the coming time.