Big groups have agreed to research and invest in Dong Thap province thanks to ease of business

The recent Provincial Competitiveness Index (PCI) released by the Vietnam Chamber of Commerce and Industry and the US Agency for International Development reveals that Dong Thap is ranked third in the country and first in the Mekong Delta region. It is the 14th year in a row that Dong Thap has been listed among the top five localities and the eighth year in a row that it has been among the top three.

Dong Thap has been expanding its activities to promote startups and increase governance capability for business households for many years. The province also encourages the establishment of associations and cooperatives to create links between individuals and enterprises. The initiatives and regular meetings enable them to share experiences and help each other grow stronger, while also representing a way to connect local value networks, particularly in agriculture.

Pham Thien Nghia, Chairman of Dong Thap People’s Committee said the result has made him very happy.”I want to express my gratitude to the business community and investors for their objective and fair appraisal of the business environment in Dong Thap, as well as their high sense of responsibility,” Nghia said. “That is a huge source of inspiration for the local authorities, which have been patient in overcoming obstacles, altering working styles, reforming administrative procedures, and changing perceptions about the critical role of business in local growth.”

Nghia stated that the results do not only create positive spillover effects but also improve the province’s image in the eyes of investors and businesses.

Provinces like Dong Thap are constantly upgrading and tweaking procedures to attract investors

Always moving forward

However, local leaders are not completely satisfied. According to the chairman, the 2021 rankings reveal that the province still has a lot of room for improvement, particularly in some indices such as Time Costs, Provincial Government Proactivity, and Law and Order.

This demonstrates that the local authorities’ efforts at all levels have not yet fully matched the demand of the people and the business community, according to Nghia, and it is crucial that the entire political system continues to work harder, collaborate, and unite in order to turn challenges into opportunities.

“We pledge to accompany the business community on their development journey in Dong Thap. We also hope that businesses and investors will continue to cooperate and share with the local authorities to promote an increasingly developed, civilised, and prosperous Dong Thap,” the chairman stated.

The province has established an image of a dynamic and creative locality with open investment and friendly authority. This has become the brand of Dong Thap, making it more attractive to lure investment. Dong Thap has recently welcomed many delegations of businesses and investors to explore investment opportunities and sign cooperation agreements across various fields.

For instance, NovaGroup has applied to research and invest in a series of large projects in Dong Thap. At the end of January, NovaGroup asked Dong Thap People’s Committee for permission to participate in projects like the 115-hectare Blue Dragon smart urban area, the 127-ha Bui Thanh Thuy craft village, and the 250-ha Las Vegas Island project, as well as Mekong Smart City.

These are some of the 11 component projects under the great Mekong Smart City plan proposed by NovaGroup for research and investment. All are located in Dong Thap or An Giang.

Another developer, Phat Dat Industrial Park Investment and Development JSC, has also proposed building industrial parks in the province, including the expansion of Dong Thap-Phat Dat Service Urban and Industrial Park with an area of 500ha. After achieving an occupancy rate of 60 per cent, Phat Dat proposes to add another 500ha.

Similarly, Dong Thap-Phat Dat Service Urban and Industrial Park II covering 300ha, the company aims to add another 600ha after achieving the occupancy of 60 per cent.

The province has signed an MoU with T&T Group in several business areas; TH Group wishes to invest in agriculture; and Everland Group is researching and investing in the Flower World Sa Dec Urban-Tourism Complex. Ocean Group is also proposing to develop a logistics centre and expand a fruit wholesale market.

Along with major groups, smaller-scale businesses have also received a helping hand in Dong Thap

Simplifying efforts

To raise competitiveness, Dong Thap is focusing on fostering a comprehensive investment environment, while working to overcome weaknesses and build a dynamic and friendly government apparatus.

It also puts forward solutions to simplify administrative procedures, accelerate digital transformation, and build a local e-government to create a driving force to improve the efficiency of administrative reform. Other measures are to support business households, cooperatives, and enterprises; increase e-commerce adoption and IT application in management; invest in new equipment; and innovate production processes.

On April 18, Dong Thap opened a digital transformation centre to enhance the leadership capability of the local authorities. Meanwhile, locals and businesses can easily give feedback to the leaders. The initiative will help local leaders to better serve both individuals and the business community.

In addition, the province is speeding up the establishment of the Dong Thap Innovation and Startup Support Centre to strengthen assistance for entrepreneurs and develop potential startups. This also contributes to improving the management capacity of household businesses and spurring business growth from local resources.

According to the provincial Department of Planning and Investment, during 2020-2022 Dong Thap approved 52 projects with the total registered investment capital of $237.82 million. Of these, 15 projects have been completed and put into operation with the total investment capital of $51.83 million.

For the first four months of 2022, Dong Thap received 29 registrations for new investment projects. Three of them have been granted investment certificates with the total registered capital of $13.9 million.