Effectiveness from renovating investment promotion

Mr. Nguyen Tien Hanh – Deputy Chief of the Provincial People’s Committee cum Director of Vinh Phuc Investment Promotion Agency stated that aiming at overcoming “obstructed points”, insufficiencies in attracting investment, IPA’s activities has being effectively renovated together with the synchronous implementation of solutions to improve business, investment climate and enhance the province’s competitive capacity in recent times. With respect to the investment promotion, Vinh Phuc has concentrated in Northeast Asian area including Japan and Korea which are the markets being potential of capital and technology; also, gradually expanded the markets to other areas and continents.

In common with selecting markets, Vinh Phuc has promoted the investment promotion activities on the spot through well supporting pre-investment enterprises, post-investment enterprises in the province, especially quickly solving administrative procedures on trade – investment, timely removing difficulties for enterprises. Moreover, Vinh Phuc shall continue to gradually renew and develop professionally the contents serving the investment promotion activities; take greater importance in the methods of getting information, accessing investors and the field of information and communications.

Currently, brochures of investment potentiality and opportunities; profiles of calling, attracting investment projects; documentary films of investment promotion in 3 languages (Vietnamese, English, Japanese); a set of questions that enterprises take interest in and slides of Vinh Phuc’s potentiality, strengths, opportunities and incentive policies on investment are publicly announced and regularly updated on the province’s websites. The especial point is that the province focuses on not only markets but also promoting investment on spot in the investment promotion strategies. Furthermore, the methods of promoting investment and accessing investors have been renovated and documents of investment promotion have been well prepared. More especially, we has been establishing a relation with several potential investors including Japan, Korea, etc in the field of oversea investment promotion. This is also an important base to attract Japanese, Korean, expected European and American investors to invest in Vinh Phuc province.

Thanks to the above renovation, the province’s investment attraction has still got optimistic results despite effects of the international economic downturn. Accumulating to August, 2013, the whole province has attracted 129 FDI projects with total registered capital of USD 2.7 billion and 526 DDI projects with total registered capital of VND 30,122.8 billion. Almost the projects has being operated effectively, which positively contributes into the province’s socio-economic development; also, speed up economic structure shift, improve people’s living standards to make Vinh Phuc become one of the most dynamic and developed provinces nationwide.