Soc Trang Province Promoting Investment

2:50:38 PM | 9/11/2005

As a poor province in the Mekong Delta, Soc Trang has applied suitable policy attracting investment to the area and increasing economic growth. VIB Forum had an interview with Mr Lam Hung Kien, Director, Soc Trang Department of Planning and Investment.
Could you give an outline of investment in the province from 2001-2005?
The province was quite successful in ODA, both the number of projects and the amount of investment capital. In 2001-2005, the province has had 16 projects capitalised at VND1,641 billion, including VND1,168 billion of foreign investment from such donors as JBIC (Japan), CIDA (Canada), Danida (Denmark), Spain, Germany, WB, ADB, and AFD. Five projects worth VND464 billion are under the direct management of the province including the Danida project of post-harvest rice storage, a Japanese project of roads and power supply to remote villages, and a Canadian project on poverty reduction.
Which are the most efficient projects?
Though the investment is still limited, the province is most successful in projects concerning infrastructure development and poverty reduction. The projects have improved the communication, power and water supply, health and education services, facilitating economic development and living conditions in rural areas
What are the shortfalls and solutions to attracting investment?
Shortfalls can be found in unsuitable economic structure, poor infrastructure, small and scattered production, low efficiency and high production costs. In 2006-2010, the province will concentrate on the building of infrastructure (Can Tho bridge, Highway 1A, etc.) and administrative reform to attract more investors to tap the natural resources and produce diversified products for export.
In addition to agriculture and fisheries, what other areas does the province intend to develop?
The province will build a deep-water port for ships over 10,000 DWT to promote domestic international trade. It will be a BOT project with 30 per cent of capital financed by the province and will accelerate the industrial production of the province. An Nghiep industrial zone is under construction with preferential treatment to investors. Other industrial zones will also be built to promote such industries as agriculture and fisheries processing, electronic, garment, and mechanics. The province will also develop trade, service and tourism. Investors are welcomed in the development of Con Noi tourist centre (Song Phung commune, Long Phu district).
Land rentals in Soc Trang
Vietnamese investors :
  • For manufacturing, construction and transport : 0.5 per cent of the rental per sq. metre and to be decided by Soc Trang People’s Committee.
  • For trade, tourism, post, banking and other services : 0.7 per cent of the rental per sq. metre and to be decided by Soc Trang People’s Committee.
  • Maximum rental time : no more than 50 years.
Foreign investors :
  • Construction site in Soc Trang town : US$0.09-1.08 per sq. metre/year.
  • Construction site in district town and township : US$0.09 per sq. metre/year.
  •  Construction site in other areas : US$0.03-0.18 per sq. metre/year.
  • Non-populated area with some improvement for the development of agriculture, forestry and fisheries : US$50-600 per hectare/year.
  • Land unsuitable for the development of agriculture, tourism, services, trade and mineral exploitation : US$30-100 per hectare/year.
  • Water surface : US$75-525 per hectare/year.
  • Sea surface : US$150-600 per sq. kilometre/year (non-fixed area : US$1,500-7,500 per sq. metre/year).
  • Maximum rental time : no more than 50 years.
Investments in An Nghiep IZ :
  • Unlevelled land : US$0.01 per sq. metre/year.
  • Levelled land : US$0.15 per sq. metre/year.
For more information, please contact :
Soc Trang Department of Planning and Investment.
21B Tran Hung Dao, Ward 3, Soc Trang town, Soc Trang province.
Tel : (079) 820 548      Fax : (079) 822 333
Email :
Website :