Ben Cat puts focus on selective investment attraction

Update: 17-07-2019 | 12:01:40

In the first half of 2019, Ben Cat town’s economy continued reaching stable growth with total production value at more than VND59billion, up 20.33% compared to the same period last year. This result partially came from the local effort in investment attraction.

Investment capital on rise

Over the past years, Ben Cat town concentrated on developing industrial parks, compounds, making site clearance to create land fund for investment attraction. The town is now home to 10 industrial parks, compounds with more than 3,200 hectares. They have worked very effectively, absorbing more investors.

This is a production line of Kumho Tyre Co.Ltd. at Ben Cat town-based My Phuoc Industrial Park

Town-based industrial parks and compounds have a modern and synchronous infrastructure system with traffic connection through main streets, namely the National Highway 13, DT744 street, to HCM city and neighboring localities…, helping investors save time and money for goods transportation.

In the first half of 2019 alone, the town absorbed 263 investment projects, including 218 domestic projects and 45 FDI ones with total capital of more than VND1.56trillion and nearly US$270million. The town’s total State budget collection was more than VND8852.4billion, up 6% compared to the same period last year. Since early thus year, the town has also developed additional 286 small and medium-sized enterprises (SMEs), up 11.8% compared to the corresponding period last year. The figure has brought the total number of SMEs herein to nearly 1,500.

It is known that most FDI projects in the town focus on hi-tech and auxiliary industries…Some FDI projects with great capital in the town include the automobile tyre-making factory of South Korea’s Kumho Asiana Corporation with total investment of more than US$360million; South Korea’s Orion Vietnam Food Co.Ltd. with US$40million; Taiwan (China)’s Kaiser Wood Industry Co.Ltd. capitalized at US$40million…

For industrial manufacture reaching stable growth, along with infrastructure investment, the town has paid more attention to education, healthcare and housing fields. The town has also mobilized all economic sectors together with the State to build up a spacious and modern urban image.

Investment promotion improved

Huynh Thu Lap, Vice-Chairman of Ben Cat town’s People’s Committee said that over the past time, the town coordinated with investors to map out plans on further improving the local investment promotion and marketing…The town also well realized preferential policies for enterprises, thereby creating favorable conditions for them to implement projects in the list of the local priority fields for investment…

To further promote the local industries, especial processing, auxiliary ones, the town will improve a process on handling procedures pertaining to investment agreement, aiming to absorb more industries in pursuit of the local development orientation. The town will also attach special importance to enhancing the quality and effectiveness of industrial manufacture.

Especially, the town will give priority to hi-tech projects and ones that are less labor-intensive and environmentally friendly; promote auxiliary industries…

Possibly seeing, attracting investment projects, especially FDI ones contributed to promoting the socio-economic development of the town. The result in investment attraction over the past time affirmed the effectiveness of investment promotion of the town in particular and the province in general.

Reported by Phuong Anh-Translated by K.T

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Ben Cat puts focus on selective investment attraction

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