Top Destination to Invest

An Giang province is now home to 4,939 enterprises, including 2,209 private-run enterprises, 1,116 limited liability companies with two members, 412 one-member limited liability companies and 149 joint stock companies, and 1,053 branches/representative offices. The total registered investment capital is above VND17,000 billion (US$1 billion).

 

As of October 2009, the province received registration applications for 124 investment projects, with a combined registered investment capital of VND27,400 billion, a rise of VND14,500 billion from the corresponding period in 2008. The People’s Committee of An Giang province granted investment certificates for 92 projects, including 82 new projects and 10 adjusted projects. The number of new projects increased 30 percent (19 projects) with an aggregate registered investment capital of some VND2,860 billion, down 36 percent from the same period of 2008 (a decrease of VND1,620 billion). The shrinkage in investment capital is due to the decline of large-scale projects in the first nine months, which is attributable to the global financial and economic crisis. On the other hand, in the first quarter of 2009, a majority of projects focused on electrical pumping stations invested under the provincial agriculture support policy (28 out of 76 projects). These projects were quite small scale, averaging some VND 500 million per project. Only several projects had registered capital of VND1,500 billion each in 2009 like Con Tien residential zone with VND675 billion, a residence invested by Nhu Y Private Enterprise with VND732 billion and expanded Sao Mai Long Xuyen high-end residence project with VND425 billion. The construction of these projects has not been kicked off yet.

 

The business development result will beat the plans approved for 2009 by the provincial People’s Committee (550 new enterprises in 2009). From this result, the province expects to realize the goal of 1,600 new enterprises with a combined registered investment capital of VND5,500 billion from 2006 to 2010.

The local investment attraction is progressive. The province expects to attract some 150 projects, a slight decline from 2008, with a combined registered capital of VND16,000 billion, down 15 percent. An Giang has licensed one new foreign-invested project worth US$22 million.

In the 2006 - 2010 period, nearly 540 projects registered to invest some VND44,000 billion in the province.

 

To attract investment capital and develop businesses, in terms of policies, the province encourages investors to focus in the areas of education, training, health, culture, sports and environment and creates land funds for new investment projects. An Giang will consider financial supports for site clearance for projects in these fields. The locality will also speed up application of IT to enhance administrative reform concerning investment registration to facilitate investors to join the market soon.

The province will be based on practical socioeconomic development,  the update and adjustment of socioeconomic development planning, land use planning, construction planning and sector development planning. The locality will provide investment and market information for investors. An Giang will continue to implement small and medium enterprise development plans in 2009 and examine the development of SMEs in the plan set for 2006 - 2010 to prepare for the next development plan. It will check investment results in the past years and approve the list of new investment projects for the next five years. It also upgrades the working capacity of provincial personnel and holds regular dialogues between authorities and businesses to solve difficulties encountered by enterprises.