November 17, 2023 | 13:00 GMT+7

Long An to tap potential of US investors

Song Hoàng -

Leaders from Mekong Delta province meet with US investors in Los Angeles on November 13.

Long An officials meet with US businesses in Los Angeles on November 13.
Long An officials meet with US businesses in Los Angeles on November 13.

The Mekong Delta’s Long An province will speed up the implementation of breakthrough solutions to improve its investment environment and develop special mechanisms to support projects with large capital investment, Deputy Chairman of the Long An Provincial People’s Committee, Nguyen Minh Lam, has said.

With the hope of soon welcoming more investors from the US to Long An to help it receive FDI inflows from leading economies around the world, provincial authorities pledge to accompany US investors and businesses, he told a meeting between Vietnamese and US businesses in Los Angeles on November 13.

According to Mr. Lam, Long An has built economic relations with nearly 40 countries and territories and attracted more than 1,200 FDI projects with total investment of over $10.5 billion. With 23 projects worth over $484 million, the US ranks eighth in terms of project numbers and sixth in capital. However, the result is considered short of the potential US businesses hold.

Mr. Truong Van Liep, Acting Director of the Long An Department of Planning and Investment, said the province has a strategically important location, connecting Ho Chi Minh City - the country’s leading economic hub - with the Mekong Delta region. This helps it benefit from the synergy of industrial and urban development, making it a truly attractive investment destination that is already accommodating large-scale projects from global US brands such as Pepsi, Coca-Cola, and Avery Dennison.

Long An prioritizes attracting US investment in key areas of Industry 4.0, including automation, the manufacturing of electronic components and software, the semiconductor industry, and AI, as well as the development of smart eco urban areas, logistics seaport services, the border economy, hi-tech agriculture, and renewable energy, among others.

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