In the first months of 2020, Ben Cat town’s economy continued reaching stable growth with total production value at nearly VND71trillion, up approximately 20% compared to the same period last year. This result partially came from the local effectiveness in investment attraction.
Investment capital further increasing
Ben Cat town is now home to 8 industrial parks with a total area of more than 4,000 hectares and 1 concentrated production zone in Tan Dinh ward with nearly 50 hectares in total.
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This is a production line of Punch Industry Manufacturing Vietnam Co.Ltd. in Ben Cat town-based My Phuoc industrial park
These industrial parks have so far upheld their effectiveness, absorbing many investors. With a synchronous infrastructure system, they now have a synchronous infrastructure system, connecting with main streets, namely national highway 13, DT744 street to HCM city and neighboring localities…, facilitating enterprises ‘development.
In the first half of 2020, the town attracted 281 domestic and FDI projects capitalized at more than VND1.56billion and nearly US$270million, greatly contributing to the local economic development. The town’s total State budget collection was more than US$977billion, up 23% compared to the same period last year. Since early this year, the town has developed additional 113 small and medium-sized enterprises, bringing the total number of such enterprises to nearly 2,200.
Most FDI projects in the town-based IPs focus on auxiliary and hi-tech industries with great capital. They include the car tire-making factory of South Korea’s Kumho Asiana Corporation with more than US$360million; South Korea’s Orion Vietnam Food Co.Ltd. with US$40million, Taiwan’s Kaiser Furniture Industry Vietnam Co.Ltd. with US$40million…
The town has also always paid attention to healthcare, education and housing fields for laborers. In addition, the town has mobilized all economic sectors to join hands with the State in building up the local spacious and modern urban image.
Investment promotion improved
Nguyen Trong An, Chairman of Ben Cat town’s People’s Committee said that over the past time, the town coordinated with investors to set up plans on improving investment promotion. The town also well implemented preferential policies for enterprises, thereby creating a favorable environment for investors to get involved in projects in the priority list…
Mr.An added that the town will improve a process of dealing with procedures relating to investment negotiation in order to attract more fields under the local development orientations, promoting the local industrial manufacture. Along with this, the town will attach special importance to promoting industrial production in depth, enhancing the quality and effectiveness of this field. Especially, the town will continue selectively absorbing investment projects; increase the rate of hi-tech projects and those with hi-added values; promote auxiliary industries and those supporting the local agriculture…
Possible seeing, the town’s investment attraction, especially for FDI projects has contributed to the local socio-economic development. The results in investment attraction over the past time affirmed the effectiveness in investment attraction of the town in particular and of the province in general. It is known that the town has till now lured 4,526 investment projects, including 3,800 domestic projects capitalized at nearly VND40trillion and 726 FDI ones with more than US$7billion.
Reported by Phuong Anh-Translated by K.T
