Investment boost in Tien Giang: Prime Minister calls for new solutions!

Investment boost in Tien Giang: Prime Minister calls for new solutions!

Prime Minister Pham Minh Chinh recently opened a major conference in Tien Giang province that emphasized the need to promote both new and traditional growth drivers. The conference aimed to activate public investments as leading private investments and to mobilize all social resources for economic development. The Prime Minister expressed concern about the slow progress in the implementation of public investments and called for faster adaptation of thinking and methodological processes.

Despite monthly and quarterly government meetings aimed at boosting public investment, progress remains below expectations. A detailed investigation into the delays was initiated to clarify legal issues and management responsibilities. Chinh stressed that the performance level of each ministry and sector must be assessed: good performance should be rewarded, while poor performance should be appropriately criticized and disciplined.

Challenges in implementation

In the first four months of the year, the disbursement of public investment capital was over VND128.5 trillion, an increase of VND18 trillion compared to the previous year. Still, VND8 trillion was not allocated for spending, resulting in a payout value of just 15.56% - a decline of 16.04% year-on-year. What is particularly alarming is that 37 out of 47 ministries and agencies and 27 out of 63 provinces and cities are below the national average.

To address these challenges, Prime Minister Chinh calls for a more active role for civil servants and greater participation of sectors and communities in public investments. For 2025, Tien Giang has proposed a public investment capital plan of over VND7,002 billion, with local budget capital exceeding VND4,138 billion and central budget capital exceeding VND2,863 billion.

Investment opportunities in Tien Giang

In parallel with these efforts, Tien Giang is also seeking investors for 40 projects worth VND53.9 trillion (US$2.18 billion). These projects were presented at a conference in My Tho on March 24, 2024, which announced the Provincial Master Plan for 2021-2030 with a vision to 2050. The projects are divided into different areas including:

• 13 Projekte in der städtischen und Wohnraumentwicklung
• 7 Projekte im Handel, Dienstleistungen und Tourismus
• 12 Projekte in der industriellen Produktion
• 5 Projekte in Bildung, Gesundheit, Kultur, Sport und Umwelt
• 3 Projekte in der Landwirtschaft

At the conference, 15 projects have already been fundamentally approved or received investment certificates, while 10 more have been approved for investment research. The new master plan envisages Tien Giang becoming a well-developed industrial center with modern infrastructure by 2030. Prime Minister Chinh also called for the province to establish itself as an economic growth engine for the Mekong Delta and to intensify resource mobilization to exploit existing growth factors such as exports and investments.

As provincial chief Nguyen Van Danh explained, Tien Giang will play a key position between the Mekong Delta and Ho Chi Minh City as well as the southeastern region. To achieve this goal, new drivers for socio-economic development need to be identified, including a combination of infrastructure development and administrative reform.

Overall, it is clear that Tien Giang wants to make a significant contribution to Vietnam's economic life with a clear strategy and targeted acquisition of investors. The challenges are significant, but so are the opportunities that arise from proactively implementing plans and improving the investment environment.

For more information, see Vietnam.vn and The Investor.