Vietnam: Moc Bai border economic zone needs more investment to reach potential: experts

Tay Ninh Province needs to focus more on developing the Moc Bai border economic zone’s infrastructure and investment to help it reach its economic potential, experts have said.

During a recent conference in Tay Ninh, Nguyen Manh Hung, deputy party secretary of the province, said that Tay Ninh plays a key role in connecting southern provinces to Cambodia, the Greater Mekong Sub-region, and other ASEAN countries, which lends strategic importance to its Moc Bai border gate.

Nguyen Thanh Tam, party secretary of Tay Ninh Province, said that the over 21,000 hectares Moc Bai border economic zone is one of the first of its kind in Viet Nam, and the central government pays a great deal of attention to it.

Nguyen Xuan Thang, chairman of the Central Theory Council, said, “Moc Bai has great potential to become the intersection of the Southern economic corridor.”

However, development on the area has been slow, and its ability to attract businesses is still limited.

After over 20 years, Moc Bai border economic zone has only received VND1 trillion (US$42.7 million) worth of investment, which is not enough to develop it, even though the province’s fiscal space is high, he said.

Vo Thanh Thong, Deputy Minister of Planning and Investment, said that Tay Ninh needs to utilise the area’s existing natural and labour advantages to build policies to attract investment.

The province should focus on favourable tax policies for businesses, administrative procedures reform, and co-operation with relevant authorities and neighbouring Cambodia.

Synchronised development of infrastructure for business production, export and import, and locals’ lives is also important, especially Moc Bai’s traffic infrastructure, he said.

Nguyen Xuan Thang said that the completion of the under-construction HCM City – Moc Bai Expressway will also play a big role in the zone’s development, as it can shorten travel distance to HCM City’s Tan Son Nhat Airport.

Both funding from the State and private investment are important, he added.

Moc Bai International Border Gate is the largest land border gate in the South. — VNS