Moc Bai Border Economic Zone Leaping forward

The year 2005 saw many events taking place in Moc Bai Border Economic Zone (BEZ) such as the inauguration of the Border Gate Complex on February 19, the completion of the largest bridge on the Trans-Asia road, the opening of the duty-free supermarket in October and the opening of the Ben Thanh - Moc Bai bus route to carry people from Ho Chi Minh City and Tay Ninh Province to the economic zone. Previously, Moc Bai BEZ aroused listeners of a “Sun City”, but in fact, it is a merely a residential project invested by Phi Long Co. in the BEZ.

 

After shopping at duty-free supermarket with 40,000 types of goods on shelves, which was built by The Ky Vang Co. (Golden Century) with an investment of VND120 billion (US$7.5 million), many began discovering the size, the position and the development orientation of Moc Bai BEZ.

 

With a more easy-going legal corridor, Moc Bai has a non-tariff commercial and industrial zone, which provides preferential treatments for investors - possibly the most generous in the country’s economic zones. 

 

As of late 2005, 29 investors with 38 projects with a total investment capital of VND5,200 billion (US$325 million) registered to lease more than 1,450 ha of land. Thirteen projects are being carried out and seven projects have begun production. Particularly, the The Ky Vang Co.’s duty-free supermarket received some 3,000 visitors in each weekday and up to 8,000 visitors a day during weekend, earning average daily turnover of VND350 million. Phuong Trinh Passenger Transport Joint Venture Co. has opened a bus route from Ho Chi Minh City’s Ben Thanh to Moc Bai with 8 trips a day, serving 400 passengers.

 

Moc Bai also has a borderline market costing VND40 billion (US$2.5 million) and more than 30 companies have registered for a place in the market. In late 2005, the borderline market called foreign investors to reserve places in the market. In early 2006, Hiep Thanh Commercial Zone was also put into operation. Phi Long Co. Ltd has finished the construction on the international tourism and commercial area, which comprises of an operational gastronomy area and underway shops, hotels and entertainment centres. The area costing more than VND323 billion (US$14.5 million) will create jobs for some 1,300 people (including 80 per cent of local residents).

 

With the breakthrough movement, Moc Bai BEZ will have a stronger momentum to turn the desert area into a dynamic point of the southern key economic triangle.