Economic zone thrives on Cambodian border
The Moc Bai economic zone bordering Cambodia is bustling, but the vast shopping complex is in need of better infrastructure to lure foreign investment.
The economic zone, located in southern Vietnam's Tay Ninh Province, is part of a growing network of large commercial centres in Vietnam.
Duong Thanh Van, head of the management board of the Moc Bai border economic zone's Planning and Investment Office, said the zone changes everyday.
When the zone opened for public business in 2004, the Government began adjusting a number of incentive policies involving land, tax and administrative procedures in order to lure both domestic and foreign investors to the economic zone.
One of the zone's most ambitious investment projects is the VND376bil (US$23.5mil) Hiep Thanh Trading Complex. Invested in by a domestic investor from HCM City, the project covers 48ha.
The complex comprises a modern housing complex and shopping mall, completed last month. Along with a 500-guest restaurant, a large supermarket was also opened while a new road will soon be built to connect the Complex directly to Cambodia.
The zone has also boasted another three other shopping areas near the Moc Bai border gate. They include a duty free supermarket, a mini supermarket, and a traditional border market attracting 3,000 - 4,000 shoppers from both countries daily.
The duty free supermarket was opened in late 2005 and sells 30,000 kinds of commodities. It employs 310 workers, most of whom were previously employed as porters and have now trained to become sellers.
Alongside the trading centres, several other housing and villa building projects have been completed. HCM City's Phi Long Company, the first investor in the Moc Bai zone in 2004, said that investors plan to develop trade centres first in order to attract labourers. Then the plan is to develop urban centres around entertainment parks, theatres and cinemas.
The zone has attracted 27 domestic investors over the last two years. They have registered 38 investment projects at a total capital of over VND5.4tril (US$350mil). The projects focus on industrial infrastructure, housing, trade and services.
The site is also home to a steel rolling mill and a transport joint venture between Vietnam and Cambodia.
The joint venture company has 26 passenger buses, running on two routes linking the Moc Bai zone with HCM City and the provincial capital city of Tay Ninh.
Calling for investment
The Moc Bai border economic zone has so far failed to attract foreign investment due to poor infrastructure. Transport linking the zone with other parts of the province is particularly bad.
The zone needs more investment capital to build and upgrade roads as well as water and electricity supplies in order to develop the zone both socially and economically.
Head of Moc Bai zone's management board Phan Minh Thanh said the zone needed to promote the sale of Vietnamese products to Cambodia. Tiaaover of goods sold to Cambodia has reached VND233bil ($14mil) a year, of which only 9% came from Cambodian customers travelling into Vietnam.
Established in 1998, it took the Moc Bai border zone until 2004 to clear land and construct facilities." Now, the economic zone covers 21,283ha and spans two districts Ben Cau and Trang Bang, bordering Svay Rieng Province (Cambodia).
(Source: Viet Nam News)
The economic zone, located in southern Vietnam's Tay Ninh Province, is part of a growing network of large commercial centres in Vietnam.
Duong Thanh Van, head of the management board of the Moc Bai border economic zone's Planning and Investment Office, said the zone changes everyday.
When the zone opened for public business in 2004, the Government began adjusting a number of incentive policies involving land, tax and administrative procedures in order to lure both domestic and foreign investors to the economic zone.
One of the zone's most ambitious investment projects is the VND376bil (US$23.5mil) Hiep Thanh Trading Complex. Invested in by a domestic investor from HCM City, the project covers 48ha.
The complex comprises a modern housing complex and shopping mall, completed last month. Along with a 500-guest restaurant, a large supermarket was also opened while a new road will soon be built to connect the Complex directly to Cambodia.
The zone has also boasted another three other shopping areas near the Moc Bai border gate. They include a duty free supermarket, a mini supermarket, and a traditional border market attracting 3,000 - 4,000 shoppers from both countries daily.
The duty free supermarket was opened in late 2005 and sells 30,000 kinds of commodities. It employs 310 workers, most of whom were previously employed as porters and have now trained to become sellers.
Alongside the trading centres, several other housing and villa building projects have been completed. HCM City's Phi Long Company, the first investor in the Moc Bai zone in 2004, said that investors plan to develop trade centres first in order to attract labourers. Then the plan is to develop urban centres around entertainment parks, theatres and cinemas.
The zone has attracted 27 domestic investors over the last two years. They have registered 38 investment projects at a total capital of over VND5.4tril (US$350mil). The projects focus on industrial infrastructure, housing, trade and services.
The site is also home to a steel rolling mill and a transport joint venture between Vietnam and Cambodia.
The joint venture company has 26 passenger buses, running on two routes linking the Moc Bai zone with HCM City and the provincial capital city of Tay Ninh.
Calling for investment
The Moc Bai border economic zone has so far failed to attract foreign investment due to poor infrastructure. Transport linking the zone with other parts of the province is particularly bad.
The zone needs more investment capital to build and upgrade roads as well as water and electricity supplies in order to develop the zone both socially and economically.
Head of Moc Bai zone's management board Phan Minh Thanh said the zone needed to promote the sale of Vietnamese products to Cambodia. Tiaaover of goods sold to Cambodia has reached VND233bil ($14mil) a year, of which only 9% came from Cambodian customers travelling into Vietnam.
Established in 1998, it took the Moc Bai border zone until 2004 to clear land and construct facilities." Now, the economic zone covers 21,283ha and spans two districts Ben Cau and Trang Bang, bordering Svay Rieng Province (Cambodia).
(Source: Viet Nam News)
2 comments:
Beware of the Vietcong intention! The Cambodian history had stated that once there was a busy port in Southern Vietname(Khmer Krom) the French divided the port equally between Cambodia and the Vietname to collect tax and at the end the Viet shut Cambodian out and take over!
Cambodian people need to look deep into their history before make any stupid decisions!
Bang Paone khmer,
While the Vietnamese are training their people to install border markers to defend their territorial sovereignty, what did the Hun Sen regime do?
CPP: COMMUNIST PARTY of PEOPLE
Vietnam and HUN SEN signed an agreement on working conditions for construction of highway 78's section from Ban Lung to O Yadav in Ratanakiri province of Cambodia and other communication routes promoting construction and defence
If HUN SEN looses the election 2008 VIETNAM and if there is acivil war YUONS can send rapidly their Soldiers troops to crush our victory and Sam Rainsy and other Khmer patriots.
Dear compatriots, we have to prepare to face this disaster.
PUT-TUMNEAY predicts when SDACH THMIL: DIABOLIC SDACH (NORO-DOOM-SI-AH-NOUSS) MEURT in TONLE BOURN MOUK (the four hands)Cambodia will plunge in the CIVIL WAR.
* The reason why Diabolic SI-AH-NOUSS dare not live in Cambodia.
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While the Vietnamese are training their people to install border markers to defend their territorial sovereignty, what did the Hun Sen regime do?
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