Attracting Investment Fund for a Modern, Sustainable Town

10:00:55 AM | 22/12/2020

In the past years, Binh Minh Town has gradually asserted its role as one of two locomotives of economic and urbanization in Vinh Long province. To achieve its current status, the town has adopted various solutions to attract investment and gear its potential advantages into a driving force for sustainable development. Vietnam Business Forum’s reporter has an interview with Mr. Nguyen Thanh Can, Chairman of the Town People's Committee, about this. Ngoc Tung reports.

Could you briefly introduce outstanding results of Binh Minh Town in the 2015 - 2020 term? Which tasks will the town focus on to maintain growth in the 2020 - 2025 term?

Over the last five years, with the focus on three breakthrough stages stated the Resolution of the 13th Party Congress, the town’s socioeconomic development made remarkable progress. The economic structure shifted toward a desired pattern and kept growing. The rate of industrial and handicraft output rose by more than 28% on average per year (16% higher than the Resolution and nearly 3 times higher than the 2010-2015 period).

Synchronous technical infrastructure, progressive culture and society, a sharp decline in poverty rate, improved material and spiritual life of the people, civilized lifestyle, guaranteed defense and security, administrative reform, anticorruption, and popularized thrift practice were major outcomes.

With the above results, Binh Minh Town was recognized by the Prime Minister to complete the new countryside construction program in 2017, three years earlier than the resolution. Particularly, on July 31, 2020, the Ministry of Construction recognized it as a third-grade urban area. This is an important foundation and driving force for Binh Minh Town to keep rising and making an important contribution to the province’s development.

In the 2020-2025 term, to achieve sustainable development and growth, the town will accelerate the economic restructuring by increasing the share of industry - construction, trade - services and high-quality agriculture, building synchronous technical infrastructure and developing ecological and civilized urban areas.

In addition, to improve quality of life and reduce poverty, the town will focus on vocational training, employment and manpower export. In particular, it will combine consistent solutions to quickly recover the economy, improve the quality new countryside construction and urban civilization.

What are potential advantages for economic development and investment attraction of Binh Minh Town? Which fields will be prioritized for investment?

Binh Minh Town is a western economic, urban and cultural center of Vinh Long province, about 30km from Vinh Long City, 5 km from Can Tho City, and with the Hau River in the west and the south. Advantageously connected to National Highway 1, National Highway 54, My Thuan - Can Tho Expressway (about to start construction), with ports and warehouses, the town plays an important role in economic development, increasingly affirms its position as a gateway to Ho Chi Minh City, Vinh Long, Can Tho City and the Mekong Delta.

In the 2020-2025 term, the town will strive to increase industrial output value by 15% a year on average; have four communes meeting advanced new countryside standards, one commune achieving exemplary new countryside standards, reduce the poverty rate by 0.5% a year, and raise non-farming labor to 87% by 2025.

The town is currently home to 134.82-ha Binh Minh Industrial Park where 28 investment projects with a total registered capital of VND823.26 billion and US$192.9 million are located on 72.15% of rentable area. In addition, Dong Binh Industrial Park (350 ha) and Thuan An Industrial Park are planned to be built, expected to become magnets to investment flows targeting at industrial, service and trade development, and create jobs for local workers.

The town also has advantages in diversified agricultural development, especially fruit tree planting (notably specialty “Nam Roi pomelo”) and many scenic rivers and orchards - ideal conditions for ecotourism development.

In the coming time, Binh Minh Town will concentrate on its values and comparative advantages to create breakthroughs in investment attraction and socioeconomic development. In particular, it will give priority to boosting industry - trade - service development by increasing added value and creating new sources of budgetary revenue.

Specifically, Binh Minh Town will mobilize available resources, especially for developing industrial zones (completing technical infrastructure and coordinating well with relevant bodies to draw investors for Binh Minh, Dong Binh and Thuan An industrial parks; focus on developing industries with competitive advantages that have markets, create many jobs, use advanced environment-friendly technology. Special priority is given to agricultural processing, especially main local agricultural products such as pomelo and tea.

The town will focus on calling investment funding for My Hoa eco-tourism area and developing different types of tourism such as ecotourism, countryside tourism, historical and cultural tourism.

Besides, the town encourages investors to develop urban infrastructure in My Hoa, Cai Von and Dong Thuan and create landscaped facilities along National Highway 1A, National Highway 54 and main traffic routes.

To enhance the quality and effect of investment attraction, in addition to unlocking local potential advantages, what are solutions that Binh Minh Town has adopted?

Over the past time, with its increasingly asserted role and position, Binh Minh Town has become an attractive destination for many investors. Determining the importance of businesses and investors, the town always regards promoting and attracting investment as a top task.

Within the framework of the law and its assigned functions and tasks, the town always creates conditions for businesses and investors to seek opportunities for investment cooperation and business development. At the same time, it promptly solves difficulties and problems faced by organizations and individuals through direct surveys, dialogues, meetings and proposals.

In the coming time, Binh Minh Town People's Committee will continue to construct a disciplined, enabling and creative administrative apparatus; further improve the investment and business environment by strengthening administrative reform, especially administrative procedures, facilitate access to planning information, investment policies and access to land.

We believe that this is the most effective way to make Binh Minh Town a desirable destination with development opportunities, sustainable cooperation and prosperity for investors.

Thank you very much!

In the coming time, Binh Minh Town will further improve the quality of third-grade urban indicators, especially low-ranked indicators; focus on developing the landscaped riverside residences, countryside tourism and ecotourism. At the same time, the town will strive to become a provincially-governed bright, green, clean, beautiful, friendly, smart and modern city.

Source: Vietnam Business Forum

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