Song Cong City – A Bright Spot to Attract Investment

8:54:59 AM | 4/3/2022

With a prime location along with the determination of the whole political system, over the years, Song Cong City has become a bright spot to attract investment in Thai Nguyen. 

Song Cong city is identified as an industrial city, an economic and cultural center in the Southern region of Thai Nguyen province. As a locality with many advantages in terms of location and infrastructure conditions, especially transport infrastructure, Song Cong is also the place where key projects, industrial parks and clusters are concentrated and is considered a promising land with great development potential.

Initially, there was only 1 Go Dam industrial cluster (IC) with the first 3 enterprises, but now, the city has 2 concentrated industrial parks (IP) including Song Cong I and Song Cong II, and 4 ICs with over 400 production and business units, contributing to creating jobs for thousands of laborers inside and outside the province.

In addition, in order to promote investment attraction and industrial development, one of the breakthrough solutions that Song Cong City focuses on implementing is prioritizing site clearance and creating a land fund to attract investors. The city's functional departments and offices have promoted propaganda and mobilization to create consensus among the people; implementing the process of land acquisition, compensation and support for site clearance and resettlement, ensuring compliance with the law.

In the past 5 years, the city has cleared 500 hectares of land with a total cost for compensation and support of over VND1,500 billion. Along with site clearance, Song Cong city has also actively implemented solutions on administrative reform, tax incentives, and training high-quality human resources.

In 2021, Song Cong invested over VND500 billion in developing urban transport infrastructure; nearly VND100 billion to complete the construction of electricity, water and telecommunications infrastructure; implementing 10 infrastructure projects in residential areas and urban areas with a total investment of VND1,395 billion.

Administrative procedure reform has been directed and implemented drastically; taking the satisfaction of people and businesses as the central goal. At the same time, administrative reform has been associated with emulation and reward work and the application of digital transformation has been promoted.

Mr. Vu Duy Nghia, Chairman of the City People's Committee said: Investment attraction was determined as one of the breakthrough stages of the city's Party Committee for the 2020-2025 term. Therefore, in order to increase investment attraction commensurate with the potential of an industrial city, in 2022, Song Cong will continue to actively coordinate with the province's sectors to continue reviewing the current development situation of Song Cong I IP in the direction of adjusting and reducing the area in the densely populated urban core areas; making additional adjustment and having development orientation to the North to implement a comprehensive and synchronous planning solution, completing procedures for expanding Song Cong II IP by 300 hectares in the second phase, bringing the total area of this IP to 550 hectares, the largest area in Thai Nguyen province.

The city will cooperate with the Authority of the Provincial Industrial Parks to attract projects with potential, high scientific-technological content, and clean environmentally friendly products, creating great added value and employing many workers in Song Cong II IP.

At the same time, it will speed up the construction of infrastructure of Ba Xuyen IC and Luong Son IC to increase local budget revenues, creating jobs for laborers inside and outside rural areas, and attracting workers from other localities.

In 2021, Song Cong City attracted 17 projects to Song Cong I IP and Song Cong II IP with a total registered investment capital of US$45 million and VND810 billion. In addition, the City People's Committee has submitted to the Provincial People's Committee and the Department of Planning and Investment for approval of investment policies 14 projects with a total land area of nearly 300 hectares and an estimated total investment of over VND7,600 billion.

By Vietnam Business Forum