Strengthening Magnetism of Industrial Zones

11:02:08 AM | 6/28/2022

Ninh Thuan will strive to become a relatively developed province in the region and the country by 2025. To create a driving force for socioeconomic development, the province will focus on drawing investment flows into industrial zones. Accordingly, the Ninh Thuan Management Board of Industrial Zones has made ongoing efforts to build an open business and investment environment.

Gradual perfection of industrial zone development

Mr. Su Dinh Vinh, Director of the Management Board of Industrial Zones, said Ninh Thuan is endowed with many advantages for economic development, especially industrial development, seafood and salt production. In recent years, renewable energy (solar power and wind power), building materials, supporting industry, marine economy, tourism industry and handicraft production have caught the interest of many potential investors which have come to study investment opportunities.

Given those advantages, in its socioeconomic development strategy, the province has constantly focused on improving governmental leadership, building schemes and resolutions to gradually accelerate industrialization, modernization and production development, especially drawing investment funds into industrial zones. The industrial production value in the period 2016-2020 increased by 186.3% over the 2011-2015 period (VND5116.4 billion in 2015 and VND9532.7 billion in 2020), staging an annual growth of 13.3%. Budget revenue was VND3,900 billion in 2020 and VND3,907 billion in 2021. Industrial zones currently attract 29 secondary investment projects (18 projects in Thanh Hai Industrial Park and 11 projects in Phuoc Nam Industrial Park), with a total investment of nearly VND2,400 billion. They employ more than 3,000 local workers, paid VND7.35 million a month on average. Industrial zones generally contribute more than VND400 billion to the local budget each year and boost local socioeconomic development.

“The Management Board always focuses on infrastructure development to gradually complete industrial zone development planning. The board always listens to, shares with and sides with investors and businesses to improve the quality of their human resources, suitable to their corporate culture and their own needs,” he said.

Focus on investment promotion

In fact, current industrial parks in Ninh Thuan have not been synchronously planned and developed, with small scales and low occupancy rates. Before this reality, the board quickly proposed practical solutions to urge tenants on synchronous infrastructure construction such as wastewater treatment stations, green areas, transport infrastructure and service facilities. It has focused on drawing industries with added value, advanced technology and clean industries to increase product value and protect the environment. The board has completed policies to encourage investment and development of industrial parks, including the single-window policy and government-backed tax incentives. The agency has stepped up information technology application in investment promotion by upgrading websites to enhance the image, potential and investment opportunities of the province to investors.

“The immediate goals of the Board are to further focus on reviewing, reporting and advising the Provincial People's Committee on Ca Na Industrial Park infrastructure development plan which will be submitted to the Prime Minister for approval; solve existing shortcomings, monitor and remove infrastructure difficulties for Du Long and Phuoc Nam industrial parks; recommend investment for infrastructure construction and investment promotion for Thanh Hai Industrial Park (invested by the government). Activities in must be based on common action principles of “Unity, adaptation, creativity, discipline, development and efficiency" as well as goals of "Safely and flexibly adapting to, effectively controlling COVID-19 epidemic, ensuring health and life of workers, making good use of opportunities for socioeconomic recovery and development, while supporting businesses and people to live through hardships," said Vinh.

Source: Vietnam Business Forum