Tay Ninh has been proving itself to be a rapidly developing locality, especially in mobilizing and managing social resources to realize the goals of sustainable development and comprehensive innovation. In 2023 and early 2024, Tay Ninh made its mark with outstanding successes in attracting investment and public investment, making a significant contribution to boosting the economy and creating a foundation for achieving strategic goals.
Breakthroughs in attracting foreign and domestic investment.
In 2023, Tay Ninh province made significant progress in attracting foreign direct investment (FDI). The total foreign investment in the province was estimated at US$751 million, an increase of 8.5% compared to 2022.
Specifically, the province granted licenses to 30 new FDI projects with a total registered capital of US$383 million, while 42 projects received capital increases totaling US$471 million. This demonstrates the confidence of international investors in Tay Ninh's investment environment and proves the province's efforts in improving policies and conditions to attract FDI.
Ba Den Mountain, Tay Ninh.
Tay Ninh's domestic investment attraction has also been very successful, with a total investment capital of over 12,545 billion VND. Cumulatively, the province currently has 700 active domestic investment projects, with a total registered capital of 130,663 billion VND. These figures not only demonstrate Tay Ninh's thriving efforts in attracting domestic and foreign investment but also reflect the province's effective organizational and management capabilities.
In the first months of 2024, Tay Ninh continued its development momentum as investment capital began to flow in, contributing to stimulating the development of various economic sectors. Thanks to this capital flow, many key projects in the province's industrial, service, and agricultural sectors have been implemented, creating positive movement throughout the entire economy.
Leveraging both international and domestic investment capital, Tay Ninh has effectively promoted key economic sectors, particularly high-tech agriculture and processing industries. This not only creates added value for the local economy but also contributes to the development of supporting industries, thereby increasing production value and income for the people.
Public investment - A crucial driver for sustainable development.
In 2024, Tay Ninh province planned for public investment capital of over 8,424 billion VND, including 4,174 billion VND from the State budget allocated by the Government and over 4,250 billion VND allocated by the Provincial People's Council. These are significant figures, marking the province's efforts to increase investment in infrastructure and public works, aiming to build a solid foundation for long-term development.
The provincial government has been making efforts to overcome difficulties and accelerate the implementation of public investment projects. The determination to achieve the goal of disbursing funds on schedule not only helps the province solve infrastructure problems but also contributes to creating stable growth momentum for various economic sectors.
Overview of Phuoc Dong Industrial Park, Go Dau District, Tay Ninh Province.
Notably, to ensure the efficient use of public investment funds, Tay Ninh focuses on investing in key and priority projects, avoiding scattered and fragmented investments.
One of the outstanding achievements thanks to the mobilization of resources and public investment is the transportation system connecting the districts within the province. Many rural and inter-district roads have been upgraded and renovated, helping to connect areas within the province and creating favorable conditions for the transportation of goods and trade.
With the motto "The State and the people work together," the province has encouraged people to participate in contributing to and supporting projects, creating a strong bond between the government and the community.
Furthermore, investment projects in industrial zones, especially large ones like Trang Bang and Phuoc Dong, not only attract capital from investors but also create thousands of jobs for workers. At the same time, Tay Ninh also focuses on developing ecotourism with prominent destinations such as Ba Den Mountain, attracting millions of tourists annually and becoming an important source of revenue for the local budget.
Strengthening resource mobilization
With the achievements it has made, Tay Ninh is setting strategic goals to continue maintaining and effectively utilizing its mobilized resources. In the coming period, the province will focus on investment support policies and improving the business environment to attract more domestic and foreign investors. Priority areas will include developing transportation infrastructure, building modern industrial parks, and promoting sustainable tourism projects.
At the same time, the province is also focusing on improving the efficiency of public investment capital utilization by reviewing and evaluating priority projects and works to prepare for the medium-term public investment plan for the period 2026-2030. Tay Ninh will aim for a focused and targeted investment approach, avoiding the dispersion of capital. This will not only help enhance the efficiency of resource utilization but also ensure that public investment projects bring sustainable economic and social value.
Asphalt paving of the DT787B road, part of the inter-regional road project connecting N8 - 787B - 789 roads in Tay Ninh province. (Photo: Viet Khoa)
Tay Ninh has demonstrated flexibility and creativity in mobilizing resources, becoming an admirable development model in the context of limited state budget resources. With innovative approaches to public relations and the ability to mobilize social resources, the province has achieved many important accomplishments in attracting investment and public investment.
These efforts not only help Tay Ninh build a solid foundation for sustainable development but also contribute to realizing the aspiration for innovation, making Tay Ninh one of the leading developed localities in the Southeast region.
Looking to the future, Tay Ninh remains committed to socio-economic development based on the consensus of its people and the support of investors. With clear strategies and objectives, Tay Ninh province is on its way to a bright future, becoming a symbol of the unity between the government and the people in building and developing their homeland.
Source: https://vtcnews.vn/tay-ninh-hien-thuc-hoa-khat-vong-doi-moi-phat-trien-ar904807.html
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