Can Tho Export Processing and Industrial Zones Authority: 20 Years of Rising from Adversity
- 169
- Business
- 15:09 03/01/2024
DNHN - After twenty years of planning, Can Tho City has created thirteen industrial parks (IPs) totalling about 7,473.23 hectares. The goal is to build IPs between 2021 and 2030, with plans to create seven more IPs totalling 6,485.75 hectares by 2050.
With an investment of more than VND 3,717 billion, VSIP Can Tho IP officially started construction in 2023, adhering to the model of a green, intelligent, and sustainable IP.
Rising from Adversity
The Prime Minister established the Can Tho Export Processing and Industrial Zones Authority (IPA) under Decision No. 749-TTg dated November 15, 1995. Immediately after its establishment, the IPA’s head office was located at 105 Tran Hung Dao Street, An Phu Ward, Ninh Kieu District, Can Tho City. Initially, despite facing challenges in terms of personnel, experience, and financial resources, the IPA still accelerated the construction progress of infrastructure while simultaneously promoting and calling for investment in Can Tho IPs. From there, the IPA’s personnel structure was gradually improved; facilities, equipment, and working tools were progressively enhanced to serve the IPA’s operations.
With inherent advantages in ports and airports, Can Tho IPs are strategically located near the economic, political, and cultural centre of Can Tho City and serve as a hub for trade, services, and science and technology in the Mekong Delta region.
Despite various obstacles in the national and international economies, Can Tho IPs attracted unprecedented amounts of investment capital in 2008–2009. To be more precise, the total registered investment capital in intellectual property (IPs) was USD 689 million in 2008 and USD 268 million in 2009. Many kinds of permissions or documentation for handling work for investors were considered during this time, and they were resolved one to three days ahead of schedule, with some permits being provided in just one day. The IPA's "one-stop, on-site" system was improved over time, and its officials and civil servants' professional credentials were greatly raised. As a result, this promoted the role of management under the "one-stop, on-site" mechanism outlined in Decree No. 35/2022/ND-CP, dated May 28, 2022, issued by the Government on the management of industrial parks and economic zones, and helped to create a favourable investment environment for investors and enterprises.
The year 2010 saw the opening of the Can Tho Bridge, the Can Tho International Airport, the Ho Chi Minh City - Trung Luong Motorway, and many other important projects that quickly brought about considerable improvements to the investment climate in Can Tho. Conferences and seminars on domestic and international investment promotion boosted the city's investment promotion efforts.
Notably, Can Tho City was able to successfully entice VSIP Group, a prominent investor in IP development in Vietnam, in 2022. VSIP Can Tho IP is a project that was launched on September 9, 2023, and is planned to be created using the principles of smart, sustainable, and environmentally friendly intellectual property.
Industrial Park Preferential Policies for 20 Years
All of Can Tho City's IPs are designed following the authorised plans for IP development in Vietnam. According to the Prime Minister's Dec. 2, 2023, Decision No. 1519/QD-TTg, which approved Can Tho City's development for the years 2021–2030 with an eye towards 2050.
Currently, 6 IPs have been established in the city, of which 5 are operational and 1 is currently undergoing infrastructure development, namely Vinh Thanh IP - Phase 1 (Vinh Thanh - VSIP Can Tho IP). These IPs are located in different districts (rural districts) with a total area of approximately 987.57 hectares. Specifically, Tra Noc 1 IP (area of 135 hectares) and Tra Noc 2 IP (area of 155 hectares) are located in Binh Thuy District, Thot Not IP (area of 74.87 hectares) is located in Thot Not District, Hung Phu 1 IP - comprising Cluster A and Cluster B (area of 262 hectares), and Hung Phu 2 IP (area of 67 hectares) are located in Cai Rang District.
The Can Tho Export Processing and Industrial Zones Authority's activity report states that between January 2023 and November 2023, two new investment projects totalling USD 4.25 million were drawn to the Can Tho IPs. This brought the total amount of attracted investment capital to USD 84.05 million, or 105% of the target.
As of November 2023, Can Tho IPs had 257 valid projects, leasing 342.82 hectares of industrial land, with a total registered investment capital of USD 1.910 billion; the actual investment capital amounted to USD 1.161 billion, accounting for 61% of the total registered investment capital. Of which: 227 domestic investment projects, with a total registered investment capital of USD 1.289 billion, and actual investment capital of USD 769.13 million, accounting for 60% of the registered capital; 29 foreign direct investment (FDI) projects with a total registered investment capital of USD 611.98 million, and actual investment capital of USD 382.38 million, accounting for 62% of the registered capital; and 1 ODA project in operation, with an investment capital of USD 9.49 million, and actual investment capital of USD 9.49 million, accounting for 100% of the registered capital. FDI enterprises in the IPs originate from various countries and territories, such as Thailand, Japan, Hong Kong, Singapore, Taiwan, Bahamas, Samoa, Seychelles, Marshall Islands, South Korea, China, and 5 joint ventures between Vietnam and other countries.
To create favourable conditions for the development of Can Tho IPs, the Central leadership, ministries, sectors, Party committees, and city authorities have over the years consistently demonstrated their concern, support, and active collaboration. These efforts have included developing a plentiful supply of labour and human resources, offering services to IPs, and developing preferential policies to entice businesses to invest in IPs. All of these actions have helped to successfully implement the goals outlined in Politburo Resolution No. 59-NQ/TW.
Hoang Nhi - Bich Lien
Related news
- Vinpearl, Hoa Sen Group, Bim Group, and Thành Thành Công – Biên Hòa are the most favored employers
- “Imposing high taxes on short-term real estate purchases reduces market liquidity”
- The policies shaping the future of the United States
- Proposal to provide financial support for troubled BOT traffic projects
- Vietnam promotes a strategy to penetrate the Middle Eastern Halal market
- Request to thoroughly resolve real estate issues and avoid "criminalization"
- Increasing taxes on pick-up trucks: The need to hear public opinion
- Why are Vietnamese startups not focusing on the domestic market?
- QuickPack Group (Germany) invests Eur30 million in Dong Tam Group'S Southeast ASIA Long An Industrial Park in Long An (Vietnam)
- "The Vietnam-Korea Investment Cooperation Forum 2024 is a testament to the spirit of innovation and sustainable collaboration."
- KBIZ's 60-year journey in building a solid foundation for South Korea's small and medium enterprise community
- Gold peaks, stocks languish: Experts identify opportunities for investors
- What categories are included in the additional audit subjects?
- General Secretary Tô Lâm sounded the alarm on preventing and combating waste
- The potential of the blockchain and cryptocurrency
- Electricity price hike and the long-term energy dilemma
- Institutional obstacles "tie up" enterprises and challenge economic growth
- Vietnam stands poised to seize opportunities in the semiconductor industry
- Southeast enterprises integrate renewable energy into production
- ‘'Bầu Đức'’ and the banana revolution at Hoang Anh Gia Lai
Đọc thêm Business
Korean businesses wants to import agricultural and seafood products from Ca Mau
Korean businesses have expressed a desire to import agricultural and seafood products from Vietnam, while also researching and developing cosmetics and pharmaceuticals from the unique ingredients of Ca Mau.
An Giang rolls out the red carpet to attract investors with 60 promising projects.
The conference introducing the potential and unique products of An Giang province in Ho Chi Minh City is not just a simple investment promotion event, but also a bridge connecting businesses and investors with a land full of development potential.
Vietnam promotes a strategy to penetrate the Middle Eastern Halal market
Vietnam is boosting its Halal exports by leveraging its agricultural strengths and upgrading its certification system to meet the growing global demand, particularly in Middle Eastern markets.
Banks inject capital to support export businesses accelerating at the end of 2024
At the end of 2024, export businesses are ramping up production, increasing orders, and receiving preferential credit support from banks to maintain sustainable growth.
Why are Vietnamese startups not focusing on the domestic market?
The reality of Vietnamese startups overlooking the domestic market is one of the notable issues in the current context of socio-economic development.
QuickPack Group (Germany) invests Eur30 million in Dong Tam Group'S Southeast ASIA Long An Industrial Park in Long An (Vietnam)
On November 18, 2024, in Cologne, Germany, Dong Tam Group (Vietnam) officially signed a Memorandum of Understanding (MOU) for an investment cooperation with QuickPack Group (Germany).
International trade connection program in Ca Mau 2024
The program aims to promote trade and enhance the image of Ca Mau province to international partners, while also fostering economic cooperation and the development of high-tech agriculture in the region.
Gold peaks, stocks languish: Experts identify opportunities for investors
Gold prices have peaked due to political and monetary factors, but face the risk of adjustment. Stocks remain difficult to recover due to weak liquidity and ongoing foreign net sales.
General Secretary Tô Lâm sounded the alarm on preventing and combating waste
General Secretary Tô Lâm has addressed visible waste and identified invisible forms of waste, delivering a powerful message with profound awakening implications...
Electricity price hike and the long-term energy dilemma
With EVN's third price hike since 2023, rising electricity costs burden households and industries. Experts warn that sustained losses threaten future power projects, urging reforms to boost investment and ensure energy security.