Could you please tell us about foreign direct investment (FDI) projects in recent years? How is Can Tho monitoring investment projects, removing emerging difficulties and speeding up projects?

Mr. Le Thanh Tam, Director of the Can Tho Department of Planning and Investment

In 2022 - 2024, Can Tho City attracted 12 new FDI projects with a total registered capital of US$175 million and permitted eight FDI projects to add US$57 million to their investment base. As of November 2024, the city licensed 81 FDI projects with US$2.22 billion of investment capital.

Every year, the city organizes domestic and foreign trade and investment promotion trips; and meets and works with partners to introduce and promote local images, competencies, policies and investment projects.

Hence, many giant multinational institutions and corporations with strong financial potential have explored investment opportunities in Can Tho. In particular, the signing and exchange of memorandums of understanding (MoUs) with investors at the Planning Announcement and Investment Promotion Conference in late 2023 has proved the growing interest of investors. Confidently, when VSIP Can Tho Industrial Park under construction comes into operation, it will attract many FDI projects.

In July 2023, the city established a special working group responsible for supporting investment promotion and removing difficulties for businesses, chaired by the Department of Planning and Investment. With its assigned responsibility, the department regularly synthesizes opinions and advises the working group to organize meetings to remove difficulties. Every year, the agency coordinates with relevant agencies to organize inter-agency inspection teams to learn about how projects are being implemented and capture difficulties to provide prompt support for businesses and investors.

Resolved to “accompany businesses, readily support them to remove difficulties in investment and business activities,” Can Tho City will focus on raising the awareness and responsibility of public employees in governmental agencies in performing tasks and work. Placing businesses at the center, the city will continue to review and give comments on overlapping and inconsistent legal regulations so that central agencies can consider and adjust them to match the actual situation. The city will remove bottlenecks in the investment and business environment like organizing government-business dialogues to provide timely information and fully grasp opinions, difficulties and obstacles in investment and business; and synchronously and promptly support policies by law.

Given potential advantages clearly defined after the Can Tho Planning for the 2021 - 2030 period, with a vision to 2050, is carried out, in what sectors and fields will Can Tho attract investment capital?

Based on the planning, Can Tho City sets out key tasks and development breakthroughs: Researching, developing and introducing mechanisms and policies to effectively mobilize all available investment resources for socioeconomic infrastructure, with investment priority given to key strategic projects; attracting and developing human resources, especially high-quality ones in important fields; strengthening connectivity with domestic and foreign schools and specialized research institutions to realize development goals; restructuring urban space, especially in central districts, to increase land use efficiency; creating land funds for regionally important health, education, training, culture, sports, tourism, trade and services projects to be executed.

The city defines priority areas for investment attraction as follows:

Industry: developing chemical, mechanical engineering, energy, pharmaceuticals, electronics, agricultural, aquatic, food and supporting industries that are fundamental, modern, sustainable and suitable to local conditions, nature and advantages; relocating industrial and handicraft facilities along the Hau River to create land funds for urban development and high-quality services; relocating industrial facilities exposed to pollution risks to industrial zones.

Trade and services: Modernizing trade and services to become a distribution center of the Mekong Delta region; developing and expanding domestic, export and import merchandise markets; promoting e-commerce; prioritizing logistics services, tourism, healthcare, education, finance and banking, science and technology, information technology, transportation, entertainment, shopping, culture and sports.

Agriculture and aquaculture: Focusing on sustainable, safe and prosperous development based on multi-sectoral integration, regionally and sectorally coordinated connectivity; promoting advantages, building specialized production areas that meet standards; fostering high-tech, smart, circular, environmentally friendly and climate-resilient agricultural production, with a focus on forming high-tech agricultural zones in Vinh Thanh, Co Do and Thoi Lai districts.

Environment: Applying international standards on environmental management; developing and applying circular economy, clean production, energy and resource saving models; improving state administration of environment; regularly inspecting, monitoring and strictly handling environmental violations; perfecting the institutional system related to environmental protection.

Can Tho City has launched many business support programs, plans and projects. How effective are they?

The city has introduced many business support programs and plans, which are initially creating a legal framework for local business support.

Notably, support activities have gradually shifted from breadth to depth, from raising awareness to direct impact, in a more positive approach. Training courses, workshops and seminars have had positive impacts on trainees, especially in face-to-face training courses (1-1). In addition, support for access to finance, credit guarantees, technological innovation, access to production and business premises and accounting support has boosted business development, connected production and business networks and developed markets. In addition, the city has supported and guided businesses and cooperatives to participate in online trade platforms like Tiki, Lazada, Voso and Shopee.

As a result, despite general difficulties, the local business community still steadily developed. As of October 31, 2024, the city had over 11,174 active businesses (an average of over 1,500 new corporate formations a year), bringing the ratio of business to 1,000 residents to 8.39, higher than the national average (8.3), ranked 8th out of 63 provinces and cities. The city currently has 17,800 agricultural production households selling over 200 products on trade platforms and nearly 3,000 people registering to sell agricultural products on e-commerce platforms.

In the coming time, Can Tho will give priority to allocating resources to support businesses. In the long term, the locality will continue to research and specify prioritized support policies for micro, small and medium businesses such as accessing finance, technology and incubation, seeking and mobilizing resources to strengthen and promote business support.

Despite being a pioneer and achieving many optimistic green growth results, to maintain its title as “National Green City”, Can Tho City must attract investment funds and develop greener businesses. What do you think about this issue?

Can Tho has resolutely carried out the annual National Action Program on Sustainable Production and Consumption, the Communication Plan on Plastic Waste Prevention and Control in Can Tho City in 2021 - 2025, the "Buy Vietnamese" Program in 2021 - 2025 which encourages Vietnamese people to give priority to Vietnamese products on their shopping list; and Consumer Protection Plan in 2021 - 2025.

The city has also supported enterprises, cooperatives, producers, traders and OCOP entities to join e-commerce platforms and the Online Vietnamese Booth Program; increased cashless payments; and deployed Market 4.0.

Moreover, the city has actively developed plans and enforced the Law on Environmental Protection 2020; organized many activities to disseminate new regulations

on environmental protection and raise awareness of environmental protection; and researched and developed a complete legal corridor on the environment.

In addition, the city has reinforced State administration of environment; collected and treated as high as over 99% of municipal solid waste and promptly handled waste arising from the COVID-19 epidemic; and implemented environmental criteria in new rural construction. The mass unity movement for cultured and civilized urban lifestyle has produced positive results. People have been encouraged to participate in environmental protection.

In the coming time, Can Tho City will continue to thoroughly grasp and execute central policies and guidelines on green growth and sustainable development. Besides, the city will continue to implement solutions to build and perfect policy institutions, improve the effective and efficient State management aligned with green growth goals; implement incentive policies to attract businesses to invest in high technology and clean technology; introduce innovative policies and mechanisms to draw high-quality human resources and skilled workers and advance the shift in labor structure towards green production; promote multilateral and bilateral international cooperation and funding; actively research and learn from international experiences, seek support in green growth from international partners, and effectively implement Vietnam's international commitments on sustainable development and response to climate change.

Thank you so much!