The southern province of Tien Giang recorded 556 newly-established enterprises with total registered capital of more than VND3.5 trillion (US$149.3 million) in the first 10 months of 2018, up 8% and 67.6% year-on-year, respectively.
|Tien Giang Investment Promotion Conference held in August (Source: vneconomy.vn)
The increases made a record high, Vice Chairman of the provincial People’s Committee Le Van Nghia has said.
There are currently 5,039 enterprises operating in production, business, trade and services in the locality. It also has nearly 61,000 business households, of which 3,830 were registered during January-October.
In the period, Tien Giang attracted 23 new investment projects worth more than VND2.8 trillion (US$119.5 million). Moreover, VND3.8 trillion (US$162 million) was added to seven existing projects. Therefore, the investments the province drew in the first 10 months exceeded VND6.6 trillion, a year-on-year rise of more than 73%.
Nghia stated that this year, the locality has rolled out the red carpet for everyone who wants to start business by encouraging the startup spirit and creating favourable conditions for them.
The provincial People’s Committee held regular meetings with enterprises and the Investment Promotion Conference 2018, he said, adding that the province has also prioritised administrative procedure reform and trade and investment promotion.
According to the committee, good business development work has had positive impacts on local economic growth. As of late October, retail goods and services generated revenues of nearly VND47 trillion (US$2 billion), up 8.9% against the same period last year. Meanwhile, industrial production values surpassed VND75 trillion, up 14.2% year-on-year.