LONG AN — Long An Province has set ambitious targets for economic growth in 2024, aiming for a growth rate between 8-8.5 per cent. The focus will be on enhancing the investment climate and restructuring the economy to achieve these goals.
Nguyễn Văn Út, the chairman of the People’s Committee, outlined the province’s strategies, emphasizing the utilization of its potential in industrialization, infrastructure development, and fostering an attractive investment climate. The province plans to prioritize the development of supporting, processing, and energy industries, while also seeking to attract both domestic and foreign investments to enhance industrial linkages and commercial infrastructure.
Infrastructure projects such as provincial roads 830E and 827E, as well as HCM City’s Ring Road No. 3, are expected to play a crucial role in facilitating socio-economic development. The administration is also committed to addressing challenges related to land clearance, resettlement, and infrastructure investment, while expanding industrial park facilities to accommodate more investors.
Efforts to improve the overall investment and business climate, including measures to enhance the Provincial Competitiveness Index ranking, are also underway.
Despite challenges faced due to the volatile economic conditions in 2023, Long An Province achieved a commendable growth rate of 5.77 per cent, surpassing the national average. The province has emerged as a top destination for investment, attracting over 2,200 domestic and 1,250 foreign projects, totaling more than VNĐ298 trillion ($12.1 billion) and $10.6 billion, respectively.
Ho Joong, chairman of the Korean Chamber of Commerce and Industry in Long An, praised the province’s leadership and favorable investment climate, expressing optimism about the increasing influx of investors, particularly from Korea.
Bùi Khánh Nguyên, deputy director of Coca-Cola Beverage Vietnam Limited Liability Company, highlighted the province’s commitment to facilitating the establishment of environmentally friendly factories, citing the support received from the local administration.
Long An Province’s ambitious economic targets for 2024 underscore its commitment to fostering sustainable growth and attracting investment while addressing challenges to create a conducive business environment.
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