Achievements and Orientation of Economic Development

Agriculture

Currently, the outstanding achievement of agricultural production is food yield which always achieves and surpasses the target of 1 million tons/year. It not only meets local demands but also contributes to maintaining national food security, and provides material for processing industry and export. The area of rice cultivation is 251,890 ha, 72.5 out of which is for high-quality rice and specialty rice. The area of specialty rice accounts for 29% therein, making productivity of 6.3 tons/ha.

The area of fruit tree cultivation is over 68,251 ha, producing 815,360 tons of fruit/year. This makes Tien Giang a top province in the whole country in terms of fruit cultivation area and fruit yield. Famous specialty fruits (e.g. Hoa Loc Mango, Go Cong Acerola, Co Co Pomelo, Tan Lap Pineapple, Cho Gao Dragon fruit, Ngu Hiep Durian, Lo Ren Vinh Kim Star-apple) have been registered exclusive protection and have gradually occupied a certain position in domestic and foreign markets. Especially, Lo Ren Vinh Kim Star-apple was granted Global GAP Certificate.

Some large vegetable cultivation areas of 24,769 ha in Chau Thanh district and Cho Gao district produce traditional vegetables, namely herbs, spring onion, chives and cilantro, which meets the demands of local markets and other outside markets. Crop rotation of vegetable on rice growing land and the rotation of vegetables with flowers and ornamental trees have brought good results for producers.

Tien Giang is the province whose livestock husbandry develops quite well in Mekong Delta, notably pigs and poultry. At present, there are 3 enterprises and 2 farms which produce about 20,000 breeding pigs per year on average. The total number of cows has increased quite quickly, reaching 66,470 cows. There are over 10,000 bee flocks. This farming is based on taking full advantage of orchards, which can bring general benefits.

Aquaculture sector has invested in developing the infrastructure of large scale raising areas such as:

- Phu Tan project of shrimp farming: 352 ha

- Southern Go Cong project: 400 ha

- Northern Go Cong project 300 ha

- Ly Quan project: 230 ha

- Phu Thanh project: 147 ha

- Phu Tan infrastructure project: 2,180 ha

- Tan Hoi project: 70 ha

Aquatic product processing

Besides, sea water surface where clam can be raised is 4,000 ha in area, up to now 2,300 ha has been developed. The area of pangasius farming is about 110 ha, most of which is in Cai Be district and Cai Lay district. Cage farming of fish develops very strongly in Tan Long islet and Thoi Son islet.

Development orientations until 2020

Agriculture sector of Tien Giang province will continue to transform its production structure toward increasing income per producing unit and stabilizing rice yield of 1 million tons/year. 3 economic programs of rice farming, gardening and livestock husbandry development are focally developed. Developing gardening program is an essential task. Furthermore, livestock husbandry sector will be developed to make it as strong as plantation sector. In the short term, 03 aspects of mechanization, seedlings and science and technology of the gardening programs are chosen to develop. High-quality rice, pig, cow for meat and 7 specialty fruits are concentrated to develop. Planning, expansion of water area for fish cage farming in the western districts and pangasius raising areas for export will be implemented. It is expected to be 700 ha in 2015 and 800 ha in 2020 in the districts of Cai Be, Cai Lay, Chau Thanh, Cho Gao, Go Cong Tay and Tan Phu Dong.

Industry and Construction

Industry sector develops at a high and stable rate. During the period of 2001 – 2006, the average growth rate was 20.66%/year. In 2007, it was over 45.6% in comparison with 2006, contributing to raising the proportion of industry and construction sector in the economic structure up to 25%.

Tien Giang has several advantages in developing the following industries: aquatic product processing, food processing, and textile thanks to local material resources and abundant workforce.

There are over 300 construction enterprises which possess a sufficient number of  machines, mechanical means for construction as well as hundreds of engineers, architects and thousands of qualified workers who have good management skill, can provide consultancy about construction investment and construct large-scale buildings in the fields of civil construction, transport, irrigation and technical infrastructure.

Development orientations until 2020

Developing chemical industry, vessel industry, textile, construction material production industry. Until 2015, enhancing high-tech industries and those which create a great amount of added value.

Developing industry based on export orientation, concentrating the investment for major industrial products; prioritizing to develop industries to serve the development of agriculture and rural areas.

Until 2020 striving to make Tien Giang province basically become an industrial province whose proportion of industry and construction sector will occupy over 40% of provincial GDP.

Commerce and services

a. Commerce

In 2007, the gross circulation of retail goods and sales of social services was VND11,000 billion, increasing 19% in comparison with 2006. Export-import turnover in 2007 reached US$286.65 million. Export turnover of commodity was $262.5 million, and that of service was US$24.15 million.

Tien Giang's commerce sector has several advantages in setting up wholesale markets and distribution centers for agricultural products and goods in Mekong Delta area and the Southern Key Economic Zone. There are 145 markets in the province together with 4 supermarkets and 2 commercial centers.

Orientations and development targets of domestic commerce

+ Developing various kinds of enterprises in large quantity, with a variety of size and modern, professional operational methods, which is suitable for product circulation rule.

My Tho Co.op Mart Supermarket

+ Developing various kinds of commercial infrastructure as well as combining traditional commerce with modern commerce harmoniously, which is suitable for characteristics and development level of provincial markets.

+ Developing circulation models which are suitable for commodity features, level and characteristics of production, trend and approaches of consumption satisfaction and requirements of state management.

Orientations and development targets of foreign trade

*Export:

+ Encouraging export and expanding foreign markets; boosting the export of processed products and those which have high technical content.

+ Developing sustainable export, which is suitable for the economic integration of the region and the world.

+ Achieving the average growth rate of 18.2%/year for the export turnover until 2010; 16.2%/year in the period of 2011-2015 and 16.3%/year in the period of 2016-2020.

*Import:

+ Reducing import of products which can be manufactured domestically to the maximum level.

+ Increasing import of source technologies and machines from countries which have modern industries.

+ Achieving the average growth rate of 22%/year for import turnover until 2010; 20%/year in the period of 2011-2015; 18%/year in the period of 2016-2020.

b. Tourism services

The strengths of Tien Giang tourism are based on the exploitation of ecotourism along rivers and in rural areas (e.g.  Thoi Son islet, Tan Thanh beach, Dong Thap Muoi Ecological Area; Dong Tam Snake Farm, etc.) together with historical and cultural relics, namely Oc Eo – Go Thanh Cultural Relic, Rach Gam – Xoai Mut Historical Relic, Ap Bac Historical Relic, ramparts, royal mausoleums, temples and pagodas such as Truong Dinh Mausoleum, Hoang Gia Mausoleum, Tu Kiet Mausoleum, Vinh Trang Pagoda.

Tien River

With various potentials, Tien Giang tourism has gradually developed and plays an important role in the tourism development of Ho Chi Minh City and Mekong Delta, especially in the framework of Mekong Delta tourism development project signed between Vietnam Government and Asian Development Bank (ADB). Tourism infrastructure of My Tho City receive investment to upgrade, which aims at fostering the development of community tourism and the cooperation for tourism development in Mekong River subregion. At present, there were 16 traveling agencies which own over 200 tourist motorboats, 53 hotels and 12 restaurants. They relentlessly enhance the quality of their services and products to meet the demands of domestic and foreign tourists.

In 2007, the total number of tourist's visits to Tien Giang province was 698,000. Those of foreign tourists were 447,100 therein, increasing 15% in comparison with 2006. Until 2010, according to plan, Tien Giang tourism will receive 950,000 visits and 1,950,000 visits until 2020 (1,250,000 visits made by foreign tourists).

Thoi Son Tourist Area

Tourism development orientations

Establishing Thoi Son islet to become an ecotourism village which will create a highlight for the ecotourism development of the province and Mekong Delta.

Focusing on infrastructure investment and tourism development toward combining ecotourism and historical - cultural relics and festivals; constructing high quality accommodations; and exploiting natural advantages in order to develop tourism in 3 areas:

+ Freshwater ecological area: developing ecotourism on the islets and residential areas along Tien River.

+ Saline ecological area: developing Tan Thanh – Hang Duong Coastal Tourist Area in order to serve sightseeing demands.

+ Ecological area affected with acid sulfate: developing tourism in the forms of field trip and historical tourism at Dong Thap Muoi Ecological Area.

c. Banking services

Banks which have branches in Tien Giang province

- Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)

- Vietnam Bank for Agriculture and Rural Development (Agribank)

- Bank for Investment and Development of Vietnam (BIDV)

- Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)

- Mekong Housing Bank (MHB)

- Dong A Joint Stock Commercial Bank (DongABank)

- Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)

- Sai Gon Bank for Industry and Trade (SaiGonBank)

- Southern Commercial Joint Stock Bank (SouthernBank)

- Nam Viet Commercial Joint Stock Bank (NaViBank)

- An Binh Commercial Joint Stock Bank (ABBank)

- Western Commercial Joint Stock Bank (WesternBank)

Apart from some basic services about capital mobilization as well as investment loan, banks also have services of bank guarantee, payment, trade finance, etc. so as to meet the higher and higher demands of customers. Those services are:

- Domestic and foreign bank guarantee services

- Payment, import and export finance, documentary negotiation and money transfer via SWIFT

- Foreign exchange by the methods of Spot, Swap, Forward and Currency Option.

- Issuing and paying domestic and international credit cards

Refunding stolen cheques (Thomas Cook Traveler's Cheques); collecting fee for the immigration procedure (I.O.M), as well as other services to meet the demands of clients.

Joint Stock Commercial Bank for Foreign Trade of Vietnam

d. Insurance services

Insurance companies operating in Tien Giang Province are:

- Tien Giang Manulife Life Insurance Company – Tien Giang Branch

- Tien Giang AIA Life Insurance Company – Tien Giang Branch

- AAA Life Insurance Joint Stock Company – Tien Giang Branch

- Petrolimex Joint Stock Insurance Company – Tien Giang Branch

- Vien Dong Joint Stock Assurance Company – Tien Giang Branch

- Tien Giang Insurance Company (a subsidiary of Bao Viet Holdings)

- Bao Minh Insurance Corporation – Tien Giang Branch

Insurance products: cargo insurance, vessel insurance, oil and gas insurance, aviation insurance, technical insurance, fire and property insurance, motor vehicle insurance, human insurance, health insurance, life insurance, education insurance.

 Technical infrastructure

a. Transport

+ Road: road networks in Tien Giang link with national highways and freeways, which is very convenient for traveling and transporting goods from Tien Giang to the other provinces of Mekong Delta and Ho Chi Minh City. The system of public transport (bus) has covered from the center of My Tho City to that of districts and towns to serve the traveling demands of local residents.

Trung Luong Roundabout

In the future, there will be a railway from Ho Chi Minh City to My Tho City with a length of 86 km. It will link with national railway system and serve the transportation of passengers and commodities of the Province and the Mekong Delta.

+ Waterway: the waterway system with a length of over 1,679 km is very convenient. Large rivers such as Tien River, Vam Co Tay River, Soai Rap River, Cho Gao Canal, Nguyen Van Tiep Canal, etc. connect provinces of Mekong Delta with Ho Chi Minh City and are the gateway to East Sea for provinces along Tien River. Particularly, Tien River is an international connecting route to Cambodia, so Tien Giang has advantages to become a marine transport center of Mekong Delta to connect it with other localities in the country and other countries in the region.

+ Port system:

- My Tho Port in My Tho Industrial Zone has an advantageous position which is along the left bank of Tien River. Its total area is 44,663 m². Its quay can receive 3,000-ton vessels. There are also a barge berth of 1,000 DWT for loading and unloading up to 1,000 ton of container cargos and those of domestic marine vehicles, 2 general warehouses of 2,196 m², a container yard of 6,780 m², an open storage for general cargo of 5,800 m², 3 cranes with a lifting capability of 45 tons. The cargo handling capacity of the port is up to 1,000 tons/day/night. Port capacity is from 300,000 tons/year or more.

- Besides, there are My Tho Fish Port and Vam Lang Fish Port, which provide logistic services for fishing industry. Phu Cuong Agricultural Product Port serves the loading and unloading of provincial food.

Cho Gao Canal

b. Electricity – Water

+ Electricity: electricity network has covered the entire province with over 2,405 km of medium voltage cable and 1906 km of low voltage cable obtaining electricity from the national electricity network through intermediate transformer stations of 110/22KV and 220/22KV whose total transforming capacity is 552.8 MVA, providing electricity stably and continuously for the province. Up to now, 100% of communes and 99.33% of households have electricity. Tien Giang Electricity Company guarantees to provide enough electricity for factories, businesses and households.

To serve the demands of industrial development, the electricity sector has already focused their capital on investment in order to install new lines and more transformer stations. Until 2010, the amount of consumed electricity is expected to be over 1,400 million kWh.

+ Water: at the present, there are 8 water supply factories whose total supplying capacity is 107,200 m³/day, providing water for over 64,500 households. Water obtained from 13 surface-water treatment stations and 31 underground-water treatment stations.

- Water pipe networks have been expanded to communes in the outskirts of My Tho City as well as towns of districts. The total length of main pipe from D100 to D600 is about 300 km.

- Project of Dong Tam Water BOO Joint Stock Company builds and upgrades the capability of the water supply system in Go Cong area whose capacity is up to 170,000 m³/day/night.

Water pumping station

c. Post and Telecommunications

Post and telecommunications system continues to develop quickly. The infrastructure of post and telecommunications network is modernly equipped.

Post: there are 2 main carriers, namely Tien Giang Post and Viettel Post. The average service range reaches 1.940 km/serving station on average. The average number of served people is 8,340 people/serving station.

Telecommunications:

* Fixed telecommunications:

+ Vietnam Post and Telecommunications Group (VNPT)

+ Viettel Group

+ EVN Telecom – a subsidiary of Vietnam Electricity Group

* Mobile telecommunications: Vinaphone, Viettel, S-Fone, EVN Telecom, MobiFone and Ha Noi Telecom.

Until 6/2008, the average telephone density achieved 52.57 telephones/100 people. The density of Internet subscribers was 1.12 subscriber/100 people on average.

Post and telecommunications services including fixed telecommunications, mobile telecommunications, the Internet, international telephone, delivery service and cable TV services have covered communes in the province.