Tra Vinh Province with Comparative Edge

As a coastal province in the Mekong Delta with a moderate climate and free of storms and floods, Tra Vinh is rich in resources for the processing industry. The existing 40,000 ha can be expanded to 80,000 ha to develop shrimp and fresh water fish raising area. The 65 km coastline, with the resource rich Co Chien, Cung Hau and Dinh An River mouths, is rich in resources and can produce some 150,000 tonnes of sea products a year.

 

The province has 182,050 ha of agricultural land ensuring nearly 1 million tonnes of rice a year including some 500,000 tonnes as a cash crop, 170,000 ha of fruit trees producing some 160,000 tonnes of fruit a year, and 12,880 ha of coconut trees bearing some 100 million coconuts a year. It has also short-term crops such as peanuts (13,480 tonnes/year) and maize (23,000 tonnes/year).

 

With these resources, I believe investors can develop the processing industry and handicraft in the province. For its part, the central government will implement two major projects in the province, namely Duyen Hai thermal-power centre and Quan Chanh Bo canal, improving the infrastructure for industrial development.

 

However, with underdeveloped infrastructure, especially roads, bridges and irrigation works, and poor equipment, the province cannot ensure high efficiency and competitiveness.

The province ensures preferential treatment to investors in Long Duc industrial zone and other industrial centres as provided by the State. Investments outside industrial zones will be assisted in land clearance, power and water supply, and roads to the factories. The province will accelerate investment formalities and ask the Planning and Investment Department and Industrial Zone Management Board to handle all the procedures.

 

Investors are free to choose areas for investment. However, the province encourages them to invest in the following areas: Infrastructure in Dinh An economic zone (coastal) and Cau Quan industrial zone (Song Hau river), light construction materials, synthetic wood, fire-resistant materials, medical equipment, antibiotic materials, high grade steel and alloy, computers, telecom equipment and processing aquatic products for export. We believe investors will have successful business in Tra Vinh.

Though the number of projects is still modest, the implementation and operation of projects are on schedule. The size of investment averages some US$500,000 per project and goes up to US$180-200 million at Quan Chanh Bo canal project and some US$5 billion at Duyen Hai thermal power centre. The products also increase in value and high technology for export.

 

In 2008, the province will apply one-stop service for investment projects, including business license, tax serial, stamp, and land documents. The investors need to register only at the Trade and Investment Promotion Centre and will receive all necessary documents to start implementing their projects.