An Giang to improve border-region economy

AN GIANG — The southwestern province of An Giang has been actively developing its border gate economy for the past few years, taking advantage of its 90km frontier with Cambodia, said the province’s Investment Promotion Centre director Phan Thi Thuy Truyen.
The province is home to five international and national border gates, including Tinh Bien, Vinh Xuong , Khanh Binh, Bac Dai and Vinh Hoi Dong .
The province will continue to upgrade its border gate infrastructure in a move to attract more investment in the province.
The province is calling for foreign and domestic investment in nine key projects focusing on international and national border gates for the period up to the decade’s end.
Among these are the VND490 billion (US$30.6 million) development of the Tinh Bien border gate economic zone; the Xuan To Industrial Zone in Tinh Bien district, with a projected investment of VND330 billion ($21 million); and a VND500 billion ($31.2 million) investment for the development of the Vinh Xuong national border gate economic zone.
Other projects include the development of the Khanh Binh national border economic zone, estimated to cost VND320 billion ($20 million); the construction of a wholesale centre on 50ha in Long Xuyen city; a VND55 billion supermarket and the construction of a farm produce market; and a shopping centre on 9ha of land in Chau Thanh district.
Truyen noted the province’s improvements in its ability to draw investment, especially after the latest decisions on developing the provincial industrial and border gate economic zones issued by the Prime Minister, as well as its approved strategies on social-economic development to 2020.
An Giang has granted licences to 86 projects with a combined investment of over VND3.49 trillion ($219 million). Two of these were foreign-invested and capitalised at roughly $27 million.
In addition, foreign investors also registered to make investments in five other projects with a total value of above $94.2 million.
An Giang will continue to carry out administrative reforms and reduce licensing times in order to attract more domestic and foreign investors. The province will also offer investors various incentives, such as support in land clearance, reduced land rents and lower corporate income taxes. — VNS