Improve the transportation systemm to attract investment

Gradually completing the traffic infrastructure system

Long An has a favorable geographical location as it is located in the Southern Key Economic Zone, the gateway from the Southeast region to the Mekong Delta provinces and vice versa. The province has a national border, a system of border gates, river ports to the sea, especially adjacent to Ho Chi Minh City - the country's major economic center, so there are many favorable conditions to promote socio-economic development.

With a strategic location full of potential, the synchronous development of the transport system is highly needed, not only meeting the freight transport demand of the province but also of the region. Recognizing that importance, in recent terms, mobilizing all resources to invest in building the transport system has been identified as one of the breakthrough programs to implement the Resolution of the Provincial Party Congress.

A series of large, inter-regional transport projects have been invested in and put into use, contributing to the completion of the province's transport system, meeting the travel and freight transport needs of people and businesses inside and outside the province.

Particularly in the 2020-2025 term, the province has identified 3 key transport projects, including the completion of Tan An City Ring Road and the bridge over the Vam Co Tay River; Provincial Road 830E (section from the expressway intersection to Provincial Road 830) and Provincial Road 827E. These are all projects of strategic significance in socio-economic development.

In particular, the Tan An City Ring Road and the bridge over the Vam Co Tay River have been completed and put into use since the end of 2023, creating a continuous traffic axis, opening up a new urban development space for Tan An City.

For the Provincial Road 830E project, the construction units are currently focusing on accelerating the progress, ensuring completion as planned by the end of 2025. This project  not only contributes to the improvement and completion of the traffic infrastructure system in Ben Luc district, Long An province, but also connects traffic from the province's roads with Ho Chi Minh City Ring Road 3 and 4, attracting businesses to invest.

Long An is also completing the procedures to implement the Provincial Road 827E project to gradually form an important economic driving force axis connecting Ho Chi Minh City with Long An and Tien Giang provinces.

In addition to key projects, the province is actively implementing projects under the Breakthrough Program to mobilize all resources to build a synchronous transport infrastructure system to serve the development of industry and urban areas in the province's key economic zones with projects such as Provincial Road 823D, upgrading Provincial Road 825, Luong Hoa - Binh Chanh road, etc., to complete the province's transport system in a synchronous, modern, and highly connected manner so that the province can be proactive in attracting investment and developing the economy.

Creating a driving force to attract investment and promote socio-economic development

According to the Department of Finance, Long An is the first province in the Southern region and the 10th locality nationwide to have its Provincial Master Plan approved for the 2021-2030 period, with a vision to 2050.

This is an important basis for the province to realize its goal of becoming a dynamic, effective and sustainable economic development center of the Southern region by 2030, becoming a gateway on the urban-industrial economic corridor of the Mekong Delta region, closely connecting with Ho Chi Minh City, the Southeast region and an important cooperation and trade hub with Cambodia.

According to the Director of the Department of Finance - Truong Van Liep, in recent time, the province has focused on mobilizing, allocating and effectively using all resources to complete the synchronous and modern strategic infrastructure system, ensuring overall connectivity.

In particular, the province pays attention and prioritizes resources to complete socio-economic infrastructure, especially transport infrastructure with large, key transport projects with regional connectivity to create momentum to promote economic development.

Important transport projects have been and are being implemented in the province such as Tan An City Ring Road, Ho Chi Minh City Ring Road 3, Provincial Road 823D, Provincial Road 830E. Their completion will contribute greatly to completing the transport system, clearing bottlenecks, helping the province rise up in economic development.

According to statistics, during this term, industrial production continued to develop more sustainably, attracting many capable investors. The industrial production index recovered year by year.

The industrial production index in the 2020-2025 period is estimated to increase by 6.62% per year, the scale of the industrial sector is constantly increasing, by 2025 it is estimated to reach 102.7 trillion VND, an increase of 69.4% compared to 2020.

In particular, the quality of the investment environment has been improved as the province synchronously implements solutions to support businesses in production and business activities, strengthening investor confidence.

In particular, the Provincial Competitiveness Index remains at a high ranking, ranked 2nd and 3rd in the country in 2023 and 2024, respectively. This helps the province become an attractive destination for investors, especially FDI investment, ranking in the top 10 in the country, attracting many large investors with capacity and experience in the fields of processing, manufacturing, high technology, and clean industry.

To date, the province has 20,165 registered enterprises with a total capital of 400,967 billion VND; 2,287 domestic investment projects with a registered capital of over 510,000 billion VND.

In addition, the province has attracted 1,409 foreign investment projects with a registered capital of nearly 12.8 billion USD, of which about 300 projects with an investment capital of over 4.6 billion USD have been attracted during this term (635 projects are in operation with a total investment capital of 4.213 billion USD).

Many strategic investors, large-scale projects with modern technology, and high added value have invested in the province, gradually affirming their role as a driving force in economic development, such as the LNG Power Plant Project with a registered capital of more than 3.1 billion USD, the Suntory Pepsico Long An Project with a total registered investment capital of more than 185 million USD, the Coca-Cola Vietnam Beverage Company Limited Branch Project in Long An with a total registered investment capital of more than 136 million USD, the Thai Tuan Textile Finishing Factory with a total registered investment capital of 12,800 billion VND, etc.

Mr. Truong Van Liep said that investing in the transport system not only reduces traffic congestion and facilitates the transportation of goods, but also shortens the time to transport goods between industrial parks, clusters, localities in the province, between Long An and the provinces of the Southeast region and the Mekong Delta region. This helps businesses reduce transportation time, save costs, improve production and business efficiency, and enhance competitiveness.

This is also an opportunity and condition to help the province gain a competitive advantage over other localities and open up new development opportunities in attracting investment, especially projects on industry, urban areas, trade, and services in the future./.

By Kien Dinh - Translated by Q. Thien

Source: https://la34.com.vn/hoan-thien-he-thong-giao-thong-tao-dong-luc-thu-hut-dau-tu-131808.html