Recent investment data released by Tay Ninh Province in Vietnam shows significant success in attracting foreign investment. As of August 15, 2024, Tay Ninh Province had a total of 377 active investment projects, with a cumulative registered capital of $9.832 billion. Among these, 75 projects are from Chinese investors, with a registered capital of $5 billion, accounting for over 50% of the total investment.
In the first eight months of 2024, Tay Ninh Province attracted 22 new foreign investment projects with registered capital exceeding $115 million. Additionally, 16 existing projects increased their investment by $143 million. In terms of domestic investment, 15 new projects were added with a registered capital of 4.756 trillion Vietnamese dong.
Nguyen Hong Thanh, Vice Chairman of the Tay Ninh Provincial People’s Committee, stated that the province is actively conducting investment promotion activities. A delegation from Tay Ninh recently visited Jiangsu Province in China and attended the Jiangsu (China) – Tay Ninh (Vietnam) Economic and Trade Cooperation Forum. At the forum, representatives from both sides introduced their respective investment advantages and opportunities. Companies from Huai’an City in Jiangsu Province showed strong interest in investment opportunities in Tay Ninh Province, particularly in the Phuoc Dong Industrial Park in Go Dau District, focusing on investment opportunities in transportation infrastructure, industrial park infrastructure, power supply, and water supply.
Tay Ninh Province is implementing a series of development plans. These include the construction project of the Moc Bai Economic Zone, which plans to develop pillar industries such as industry, residential areas, and logistics services. Furthermore, Tay Ninh Province is advancing the Ho Chi Minh City – Moc Bai Expressway project, studying the pre-feasibility plan for Tay Ninh Airport, as well as constructing inter-provincial roads and planning and expanding multiple industrial parks.
Currently, Tay Ninh Province has six operational industrial parks with a total area of approximately 3,500 hectares and an occupancy rate close to 80%. The province also has over 800 hectares of industrial land immediately available for projects.
Companies from Jiangsu Province in China expressed their willingness to cooperate with Tay Ninh Province and contribute to local development. This cooperative attitude has injected new momentum into Tay Ninh Province’s economic development.
The investment environment and development prospects of Tay Ninh Province have gained recognition from Chinese investors. Through measures such as improving the investment environment, strengthening infrastructure construction, and providing preferential policies, Tay Ninh Province is gradually becoming one of Vietnam’s important windows for attracting foreign investment.
With the construction of the Moc Bai Economic Zone, the improvement of transportation infrastructure, and the planning of more industrial parks, Tay Ninh Province is expected to attract more foreign investment. Especially against the backdrop of continuous growth in Chinese investment, Tay Ninh Province has the potential to make significant contributions to promoting Vietnam’s economic development and China-Vietnam economic and trade cooperation. For more information about investment in Vietnam, please contact Jaycy!
Key points summary:
- Tay Ninh Province has 377 foreign investment projects with registered capital of $9.832 billion, of which Chinese investment accounts for over 50%.
- In the first eight months of 2024, Tay Ninh Province added new foreign and domestic investment projects, showing good growth momentum.
- Tay Ninh Province has established cooperative relations with Jiangsu Province in China, and Jiangsu enterprises are interested in investment opportunities in Tay Ninh Province.
- Tay Ninh Province is constructing the Moc Bai Economic Zone, improving infrastructure, and optimizing the investment environment.
- Six existing industrial parks are operating well with an enterprise occupancy rate of nearly 80%, and there is still ample room for development.
- Chinese companies, especially those from Jiangsu Province, have expressed willingness to cooperate with Tay Ninh Province.
- Tay Ninh Province is attracting foreign investment through various measures and is expected to become an important window for foreign investment in Vietnam.
