03 Jul 2012
HCM CITY — The southern province of Tay Ninh is seeking investment in many sectors, including tourism, services and trade infrastructure, processing industries, and human resources training.
Tran Huu Hau, director of the province's Investment and Trade Promotion Centre, said many tourism services could be developed in the province thanks to its features, including Ba Den Mountain and Lo Go-Xa Mat National Park.
However, the infrastructure for tourism, service and trade is not fully developed, according to Hau, who spoke at a conference organised by HCM City branch of the Viet Nam Chamber of Commerce and Industry, the Tay Ninh People's Committee and Bourbon An Hoa Corporation.
Hau said that farm produce processing industry had a great potential to develop in the province because the area was known as one of the country's best sources for sugarcane, peanuts, cassava and rubber.
In addition, the province wanted to develop modern trade channels and service infrastructure. It needed investment in human resource training to develop a qualified labour force to serve the area's development.
It has also called for local and foreign investment in industrial parks and clusters in the province, and pledged to bring the most favourable conditions for investors, according to Tran Luu Quang, deputy chairman of the provincial People's Committee.
"More than 2,000ha of clear land at industrial parks and industrial clusters in the province are ready to welcome investors," he said.
"The province will offer incentive policies for investors in accordance with the regulations of the Government, but it will enhance those incentives where possible," he said.
Hau said the province would focus on supporting investors in their paperwork to reduce costs and the time needed.
Tran Tuu, general director of Bourbon An Hoa Joint Stock Company, said businesses that invest in common sectors at the industrial garden would enjoy zero per cent tax for the first two years of taxable income.
Investors who specialise in high-tech sectors will enjoy zero per cent tax in the first four years and 5 per cent in the next nine years, according to Tuu.
In addition, the industrial garden also will offer lower rentals compared to other industrial zones in Binh Duong, Dong Nai, Long An and Ba Ria-Vung Tau provinces and HCM City.
However, Quang said the province would not attract investment at any cost, and that it would check projects carefully before approving and refuse projects that might cause an adverse impact to the environment.
So far, the province has attracted 207 foreign investment projects worth a total registered capital of US$1.44 billion.
It shares a border with Cambodia in the west and north, and is surrounded by HCM City and Long An, Binh Phuoc and Binh Duong provinces.
With its geographic position, the province has become a major intersection connecting the southern region to other ASEAN countries, opening prospects for the province's socio-economic development — VNS