Investment booms as Sóc Trăng improves business climate

SÓC TRĂNG – Sóc Trăng Province's efforts to improve its business climate is paying off with more and more investors, both domestic and foreign, coming since  二0 一 六.

It has worked with hundreds of potential investors seeking to invest in areas where the province has strengths like hi-tech agriculture, tourism and wind and solar power.

It approved  一 一 六 projects with a total investment of VNĐ 二 七. 三 trillion (US$ 一. 一 八 billion) in  二0 一 六- 二0,  五. 五 times the amount in the previous five years.

Nine of them are FDI projects.

Sóc Trăng authorities have been making efforts to improve the investment climate and provincial competitiveness by focusing on infrastructure and providing lands for projects.

They are keen on projects that are sustainable and environment-friendly.

Nguyễn Thị Thùy Nhi, deputy director of the province’s Department of Natural Resources and the Environment, said her department had been reforming administrative procedures, boosting the province’s competitiveness in terms of attracting investment and business climate.

One key infrastructure project is the upgrade of Trần Đề deep-water port, which will reduce logistics costs for exports from the Mekong Delta.

The recently approved Châu Đốc - Cần Thơ - Sóc Trăng highway will connect to the port, aiding goods transportation and improving links with the rest of the country.

The province is also creating a start-up eco-system with development assistance, incubation progra妹妹es and sponsorship for creative small and medium-sized businesses.

In the last five years  一, 九00 new businesses were set up, a  四 七. 二 per cent increase from  二0 一 一 –  一 五. Many companies have invested in manufacturing in the An Nghiệp Industrial Park, creating tens of thousands of jobs.

In  二0 二 一 –  二 五 Sóc Trăng seeks to further improve its business climate and competitiveness, focusing on business assistance services, labour training and helping investors start projects smoothly.

There are  三, 三00 registered businesses in the province with a total charter capital of VNĐ 三 三 trillion.

Sóc Trăng’s economy grew by  六. 七 五 per cent in  二0 二0. – VNS