Foreign investment boosts Tay Ninh’s production

Simplifying administrative procedures and shortening the time needed for paperwork are the top priorities set by the local government. Thanks to the efforts made by the local department of Planning and Investment, the business environment here has improved a lot. Requests relating to investment certificates are resolved in 1-3 days instead of 5 days as before.

This explains why investment is climbing in the locality. The number of FDI projects currently stands at 255 worth 2.9 USD bln, 18 times more compared to 1999 when there were only 20 projects.

The province offers support policies to businesses. These include preferential tax rates and land rental fees. Administrative procedures have been improved year on year, and management boards at industrial zones have made it easier to obtain investment licenses.

As the province steps up the pace to catch up with other localities, Tay Ninh province promises to become another economic hub in the southern region, besides Dong Nai, Binh Duong and HCMC.