In 1992, Soc Trang province was established from the split of Hau Giang province into Can Tho City and Soc Trang province. After more than 20 years of construction and development, from a poor locality, Soc Trang has emerged to become one of the most attractive destinations for domestic and foreign investors. The business community, with the effective support of local government and their projects, has developed very rapidly and dynamically, thus making greater contributions to the local socioeconomic development. Vietnam Business Forum has an interview with Mr Mai Phuoc Hung, Director of the Department of Planning and Investment of Soc Trang province, on these successes. Hoang Ngoc reports. Could you please tell us some remarkable results in investment attraction since Soc Trang province was established?
Soc Trang province attracted US$227.8 million of official development assistance (ODA) from its re-establishment in 1992 to the end of 2013. Among 55 ODA programmes and projects, 17 projects worth US$91.1 million were performed by central agencies and 39 programmes and projects valued at US$126.7 million were carried out by Soc Trang province.
In the 2011 – 2013 period, with the assistance of central agencies and the endless effort of the province, Soc Trang province has mobilised 19 ODA projects valued at VND1,666.56 billion (US$79.3 million). Major donors included the WB, CIDA, JICA, KfW and ADB. Most projects are involved in agricultural and rural development, poverty reduction, economic infrastructure construction in remote areas and Khmer people areas, social infrastructure development, urban infrastructure development, management capacity building, and human resource development.
In FDI attraction, apart from general incentives and preference policies provided by the Government, Soc Trang province also issued investment attraction policies. The province continued to consolidate administrative apparatus, reform administrative procedures, and improve the investor-friendly investment environment although FDI attraction was not very good. Soc Trang licensed three projects from 2011 to 2013, bringing the total FDI projects to nine with a total registered value of US$20.286 million.
Although socioeconomic infrastructure faces certain difficulties, Soc Trang holds much potential, especially in the agricultural sector. How has Soc Trang planned to effectively exploit such potential?
In the current renovation and opening era, attracting investment capital is considered one of the measures to utilise external resources to promote internal resources for socioeconomic development.
To exploit local characteristic advantages, based on the needs of investors and the needs of the province, in 2014, the Department of Planning and Investment has advised the Provincial People’s Committee to issue the list of key projects calling for investment capital, including 14 projects engaged in potential and advantageous sectors like agriculture, aquaculture, dairy farming, dairy processing, seaport, wind power, trade and construction. In addition, the province announced issued a list of priority projects in need of investment capital in the 2011-2015 period and policies on investment encouragement.
In addition to attracting investment projects to unlock the local potential and advantages, what is Soc Trang’s investment attraction orientation in the coming time?
To improve the efficiency of investment attraction to better serve socioeconomic development, Soc Trang province is carrying out a number of solutions like: Giving priority to projects using advanced, environment-friendly technologies, creating high added value and using resources effectively and economically towards sustainable development. Accordingly, the province encourages investment into information technology, electronics, biotechnology, tourism, health, education – training and entertainment services. Soc Trang attracts projects engaged in research and development and technology transfer towards environmental protection and sustainable development. Drawing investment capital into supporting industries to reduce input costs and enhance the competitiveness of domestically produced products.
In the past years, the Soc Trang Small and Medium Enterprise Development Project has made important contributions to local socioeconomic development. Would you be kind enough to tell us more about this success?
The Soc Trang Small and Medium Enterprise Development Project was funded by the Canadian Department of Foreign Affairs, Trade and Development. The CAD9.2 million is carried out from 2011 to 2016.
In the past time, the project has deployed many business support activities like supporting working equipment for the Soc Trang Business Association and the Centre for Investment Promotion and Business Support; broadening information dissemination; advising the Provincial People’s Committee to host meetings and dialogues with businesses to understand their difficulties and introduce support solutions for them to overcome hardships.
The project has also deployed other support programmes like registering product brand names and designing free websites for businesses to popularise products and services; organising many training courses on management capacity building; carrying out activities to upgrade rice value chains: strengthening the connectivity of farmers and enterprises in production, consumption, trade promotion support in Indonesia. These successes have importantly contributed to improving the local business environment and creating favourable conditions for business development.
What measures will the province take to enhance the operating efficiency of the project in 2014 and beyond?
To enhance the operating efficiency of the project in the future, the Project Management Board will strengthen its coordination with local governments and agencies to provide business support, with particular attentions for communication, information provision and management capacity building for enterprises. In 2014, the project will deploy an innovative SME financing programme to foster and develop business intentions and strategies and pilot business start-up incubators.
By deploying the above activities synchronously, the investment environment of the province will be more favourable for enterprises to do business and thus attract more new investors to the locality.
Đăng ký: VietNam News
