Tay Ninh has garnered over 751 million USD and 12,500 billion VND in investment capital since the start of the year.

DNHN - The province of Tay Ninh has garnered both domestic and international investment capital of over 12,500 billion VND (751 million USD) since the start of the year. On November 29, a representative of the Department of Planning and Investment

Tay Ninh province signed a Memorandum of Cooperation on investing in several high-tech agricultural projects for the period 2023-2030. NLĐO photo
Tay Ninh province signed a Memorandum of Cooperation on investing in several high-tech agricultural projects for the period 2023-2030. NLĐO photo.

At present, the province is home to 1,069 projects, 369 of which are foreign investment initiatives and 700 of which are domestic in nature. These endeavours have a combined registered capital of over 131,000 billion VND and 9.7 billion USD.

Significantly, foreign investment capital attracted to the region increased by 8.5% during the corresponding time frame, with a total of 283 million USD in investment capital and 30 new projects. There has been a 53% increase in registered capital and a 1.9-fold increase in the number of projects during the same period.

In addition, a total of 42 capital-augmentation projects were adjusted, resulting in a monetary infusion of 471 million USD—a 2.5-fold increase compared to the corresponding period earlier. Presently, the province of Tay Ninh manages 700 projects with domestic investment, totalling nearly 131,000 billion VND in registered capital. Out of the total, 93 projects are currently under construction, while 411 projects have been put into operation. The Thematic Sightseeing and Resort Project atop Ba Den Mountain, which has a registered capital of 5,350 billion VND, and the Rach Son urban area project, which has a registered capital of 528 billion VND, are both outstanding endeavours.

Tay Ninh establishes as its objective the PCI (Provincial Competitiveness Index) placing it among the top 20 provinces and cities in the nation by 2023, with ten out of ten PCI component indices surpassing the national average. The province pledges to further reduce the duration of procedures about investment, land, construction, business registration, and the environment; and establish circumstances that are equitable and transparent in their support of businesses and investors.

Concurrently, local governments strengthen administrative reform, streamline and reduce bureaucratic processes, and advance decentralisation and local empowerment. In addition, oversight and inspection are implemented to enhance business environment factors, thereby decreasing the number of processes, expenses, time, and risks for investors and businesses.

Tay Ninh places significant emphasis on the objective of fostering an innovation ecosystem and promoting the formation of inventive startups. Furthermore, with the objective of cost reduction, the province promotes cooperation programmes with regional provinces, particularly in the areas of inter-regional logistics and infrastructure, and endeavours to enhance the calibre of labour training. in the Business Sector.

Nhu Hung

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