Which are best investment fields in Tra Vinh Province?

Tra Vinh possesses a profuse source of materials for the development of the processing industry. The fisheries area in 2005 exceeded 140,000 ha, including 80,000 ha of developable area, which has been used to raise sugpo shrimps and freshwater fishes. With 65 km of coastline and three estuaries of Co Chien, Cung Hau and Dinh An, the province has a plentiful source of seafood with an annual fishing output of 150,000 tonnes.

 

With an agricultural area of some 182,050 ha, Tra Vinh Province can harvest more than one million tonnes of rice a year, including 600,000 tonnes of high quality for export. Besides, the province also has a fruit tree area of 170,000 ha, which bears some 160,000 tonnes of fruits per annum. The coconut tree area of 12,880 ha is only second to Ben Tre Province. With an annual coconut yield of 100 million fruits, Tra Vinh has a strong potentiality to develop processing industries and handicrafts. The sugarcane area has reached some 700,000 tonnes a year but the processing factories are able to handle a half. Another short-day industrial crops are peanut (13,480 tonnes a year), maize (23,000 tonnes) and rush (9,750 tonnes). The cattle herd is being raised for commercial purposes to feed processing industries.

 

The clay is ideal for manufacturing bricks, tiles, porcelain and terracotta. In spite of having reserves of 45 million cubic metres, Tra Vinh still has no modern brick kilns. With two big rivers running through, Tra Vinh also has strong construction sand reserves but this source of materials remains unexploited.

 

TraVinh has young and enthusiastic workforce, which can supply to labour intensive industries such as garment, textile, leather and footwear.

 

According to expertise calculation, the southwest of Vietnam will suffer power shortage in 2010. Vietnam now has to import electricity from Laos and Cambodia. Tra Vinh already has an investment project to build a thermal power plant with six turbines, capable of supplying the southwest of Vietnam.

 

Besides, Tra Vinh also invested in several infrastructure works such as Nam Mang Thit irrigation system, Long Duc Industrial Complex, an inland port for ships of 3,000 tonnes, Lang Chim fishing port, Dinh An fishing wharf, Long Toan shrimp farming zone, etc.

Although we have made improvements in the past years, the infrastructure does not come up with expectations of investors, especially the traffic system and irrigation system. Hence, this land remains a potentiality to investors.

 

With the full implementation of AFTA roadmap, Vietnam will have more investment inflows but it is still a difficulty and challenge to Tra Vinh because the economic capacity of the province is small, machinery and equipment are backward, and the output, quality, efficiency and competitiveness of its products is low. These shortcomings expose a disadvantage in competing with products from other localities in Vietnam as well as from other countries. The ration of poor households is still high, over 30 per cent, while the per capita income is low. As a result, the savings for development investment are low. The quality of human resources is low while the proportion of trained workers is small. The capacity of state officials fails to meet the requirements in the new era while living standards of the people, especially Khmer ethnic minorities, are low. These difficulties are hindrance to the socio-economic development of the province.

 

Tra Vinh offers incentives to all investors in Long Duc Industrial Complex and other planned industrial complexes in the province. Investment projects will be provided incentives as stipulated by the central government. If investment projects are located outside industrial complexes, they will be provided site clearance fees, water and electricity access.

Apart from incentive policies, Tra Vinh will create the most favourable conditions for investors in proceeding investment procedures. We will resolve any emerging matters in the soonest period of time. We will continue streamlining the apparatus of administrative system and applying the “one-door” policy in all eight districts and 21 departments. After a period of time of application, it takes a shorter period of time to handle administrative procedures and the quality of works is improved while attitude and responsibility of state officials is bettered.

In the short term, investors should pour their money into tourism, public service, retail network, electronic component production, agricultural commodity processing, chemical and pharmaceutical production because these field relies less on the infrastructure system. Investors are also advised to inject money into power generation, seaport, industrial zone infrastructure, Dinh An economic zone infrastructure or processing factories.