Kien Giang ready to welcome new investment waves

Update: 17:45 | 26/06/2020
TGVN. With outstanding potentials, advantages, numerous major local buildings, projects invested, along with laudable efforts in improving the investment and business environment, Kien Giang expected to welcome new investment waves.
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Kien Giang provincial leaders handed over investment certificates to investors at Kien Giang Investment Promotion Conference 2019.

Kien Giang has a diverse topography, with a long coastline, numerous mountains, rivers and islands and an abundance of natural resources. As a result, Kien Giang has numerous economic potentials and advantages, such as diversity in agricultural – forestry development; sea economy; border economy, maritime and international trade; seafood processing; trade & tourism services, energy…

New production values

Upholding its advantages as one of the four provinces belong to the Mekong Delta key economic region, recently, Kien Giang has utilized policies and resources from the Central Government to invest in facilities, enacted policies to attract numerous domestic, foreign economic components to invest in the province’s potential, competitive sectors.

With a 200 km of coastline, 63.290 km2 of fishing ground diverse resources, sea economy is Kien Giang’s strength, with 10.000 fishing vehicles, among those nearly 4.000 offshore fishing, high-capacity ships. Aside from exploring natural resources, the province also holds enormous potentials in growing high-value seafood like sea cucumber, abalone, pearl-oyster… the total output of seafood explored from the sea and harvested from aquaculture has amounted to 750.000 tons/year…

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Phu Quoc island greets 260,000 tourists in first month of 2018 Phu Quoc island greets 260,000 tourists in first month of 2018

With more than 143 big and small islands from 5 archipelagoes, 43 of those inhabited (two largest islands being Phu Quoc and Kien Hai); many beautiful beaches and 4 key tourism areas, specifically Phu Quoc Island, Kien Giang has advantages in developing marine eco-tourism; its land is suitable for developing agriculture – forestry – fisheries; the National Forest of U Minh Thuong and Phu Quoc holds significant importance and values in researching animal/plant species, establishing the reserve, protecting the ecosystem, regulating the weather, serving as the regional and global biosphere reserves.

By 2019, Kien Giang has attracted 796 investment projects, with total registered capital up to 540,660.6 billion VND. Exclusively, there is a foreign direct investment (FDI) 56 projects from 19 countries and territories, with total registered capital up to 2.7 billion USD in food processing, transportation, tourism and manufacturing sectors.

Many major local projects have created new production values, contributed significantly in the shift of economic structure, brought jobs for tens of thousands of local workers, such as the Vinpearl resorts & villas; An Thoi resort & cable car; Trung Song, Thong Thuan and Kien Hung’s export seafood manufacturing factories; Sai Gon – Kien Giang Beer Factory; TBS Kien Giang and Hwaseung Co. LTD’s export shoes & sandals manufacturing factories, MDF wood processing factory, Vinatex Kien Giang garment factory…

Ready to expand cooperation

Implementing consistently the foreign policy line of independence, self-reliance, peace, cooperation and development; the foreign policy of openness and diversification and multilateralization of international relations; proactively and actively engage in international economic integration while expanding international cooperation, over time, Kien Giang’s foreign relations have greatly expanded and developed, achieved important results, contributed significantly to socio-economic development.

By now, Kien Giang has established friendships and partnerships with 12 provinces and cities of Cambodia, Thailand, Laos, South Korea, France and Japan; expanded the exporting market to 38 countries and territories; promoted cultural, political, economic and people-to-people diplomacy.

Kien Giang affirmed that mobilizing resources, exploring potentials and advantages for socio-economic development is an important step, specified in provincial’s main directives. As a result, the investment, business environment has steadily improved and attracted resources for investment for sustainable development.

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Secretary of Kien Giang Provincial Party Committee and Chairman of the People's Committee of Kien Giang Province witnessed the Kien Giang Investment, Trade and Tourism Promotion Center signing a Memorandum of Understanding with Ho Chi Minh City Tourism, Trade and Investment Promotion Center.

To welcome the waves of investment to Kien Giang, over the years, the People’s Committee has planned and built 5 industrial zones with a total area of 770 hectares, along with supporting traffic facilities, utilities, communications and banking systems... The province also continued to invest in these areas’ expansions by 250 hectares. They have attracted dozens of investment projects from major leather shoes, wood processing, beer, export seafood processing companies..., contributed to the vibrant investment environment.

The province also strived to mobilize capital for investments to reach 222,666 billion VND by 2020. There are 108 projects, in numerous sectors, invested in Kien Giang during the period of 2018 – 2020. Besides transportation, urban housing and trade projects, the province also focused on developing clean and high technology agriculture; high value-added seafood processing; fishing and preserving seafood; seafood logistics; environmental cleanup; plans on areas, industrial zones; tourism,...

Kien Giang’s high expectation is reasonable, since numerous projects on facilities, such as Rach Gia domestic airport, Phu Quoc international airport, Duong Dong international seaport, An Thoi cargo port, Ha Tien border gate, Giang Thanh national border gate, have been ready. At the moment, it only takes 3.5 hours of traveling by car from HCMC to Kien Giang... All of these factors is bringing favorable factors to strongly attract investments into Kien Giang.

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Chairman of Kien Giang People’s Committee