16:41 (GMT +7) - Friday 24/11/2017

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Can Tho seeks investors in 27 projects

Released at: 09:49, 19/07/2017

Can Tho seeks investors in 27 projects

Ground breaking ceremony for a factory of South Korea's Taekwang Group in Can Tho . Photo: tintuc24h.info

Projects in high-tech agriculture, IT, industrial zone infrastructure, and traffic infrastructure in Mekong Delta city.

by Minh Tuyet

Can Tho city is calling for investment in 27 projects worth a total of $1.4 billion, according to the Mekong Delta city’s Investment and Trade Promotion Center.

Fourteen projects require foreign direct investment (FDI) and are worth over $1 billion in total, while the remainder are in the public-private partnership model. All are in high-tech agriculture, information technology, industrial zone infrastructure, and traffic infrastructure.

The Center added that as at the end of June, Can Tho had attracted 74 FDI projects with total investment of $649.2 million. South Korea is the largest investor, with registered capital of over $246 million. Though the country is the largest investor in the city, bilateral trade between South Korea and Can Tho remains quite modest.

Export turnover from Can Tho to South Korea was $4.2 million in the first half of this year and $9.5 million in 2016, Mr. Nguyen Minh Toai, Director of the Can Tho Department of Industry and Trade said, while imports from South Korea in the first half totaled $2.1 million and were $6.9 million last year.  

Bilateral trade was therefore only $6.3 million in the first half; quite low compared to the city’s total trade, he said. Total export turnover was $1.5 billion in 2016 and import turnover $293 million.

To increase trade relations between Can Tho and South Korea, Mr. Toai suggested that enterprises in the city better utilize the free trade agreement between the two countries and actively seek investment information.

He also urged South Korea to enhance its promotion of the city and focus on exports of its products with advantages, such as cosmetics and electronics.

Can Tho attracted the attention of many large domestic and foreign enterprises last year. For example, the Korea Land & Housing Corporation wished to invest in the Cai Rang Industrial Zone on area of 500 ha and VEAM Motor wanted to build a 7,863 sq m exhibition space and an agricultural machinery production area on 2.15 ha.

Located on the banks of the Hau River, Can Tho is the largest and most-modern city in the Mekong Delta and the second largest in Vietnam’s south, after Ho Chi Minh City. In accordance with national planning, by 2025, Can Tho will be a center of industry, commerce, service, education, culture, and healthcare in the Delta. 

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