Mekong Delta province eyes Japan investment

“The province will create the most favourable conditions and preferential policies for Japanese investors,” Truong Canh Tuyen, People’s Committee vice chairman, said.

Hau Giang has attracted two Japanese projects with a combined investment of more than $1.36 million (Bt47.15 million), according to the local Department of Planning and Investment.

It also has six official development assistance projects from Japan worth 219.5 billion gong ($9.84 million, Bt 341 million) and three projects by Japanese NGOs. The latter include one to research aquaculture in the Xa No River in Vi Thanh city in 2009 and another to build 10 houses at a cost of 350 million dong ($15,694) for poor people in Chau Thanh District in 2010, sponsored by the Japan Tobacco International company.

Shinnyo-en, a charity organisation, built a bridge to access Tan Phu elementary in 2013 and provided scholarships to 38 of the school's students the next year.

Jetro executives also visited the Can Tho Sugar Joint Stock Company to explore business opportunities, according to media reports.

Hau Giang is currently looking for investments of $330 million in 33 projects, especially in agricultural and food products, agricultural technologies and trade and tourism development, according to its People's Committee.

The province is offering incentives to investors such as income tax waiver for the first four years and a 50 per cent waiver in for the next nine.

They will also enjoy subsidised land and water and lower import and export taxes.

Since 2004 more than 3,700 companies have registered to set up businesses in the province with a combined investment of 43 trillion dong ($1.93 billion), mostly in trade, services and construction.

Hau Giang is home to nearly 500 domestic projects worth 120 trillion dong ($5.38 billion).