Vinh Phuc will perform comprehensive solutions to improve environment, investment attraction

Reporter: By the end of June, Vinh Phuc has exceeded investment attraction target of full year 2014. What are the major reasons for this success?

Mr. Nguyen Tien Hanh: It is true, by the end of June; Vinh Phuc has exceeded the target of investment attraction of full year 2014. By the middle of December, the province has attracted 82 new investment projects. Beyond 52 projects compared with the plan. Including 37 DDI projects with the total registered investment capital of 4390 billion Dong; 45 FDI projects with the total registered investment capital USD 407,7 million, up 73% of project and 23% of capital compared with the year 2013. This is a year with a number of FDI projects stard highest operating with 31 projects. Until now, in the province has 184 FDI projects with the total registered capital US $ 3.077 million; 573 DDI projects with the total registered investment capital of 38.607,6 billion Dong.

Having a result thank to the recent time, the province has been implemented effectively and synchronous solutions to attract investment. Along with innovation, promote investment promotion activities in the potential markets, Vinh Phuc was particularly interested in supporting and caring for investors in the province through the practical work such as: fresh land, supply of skilled labor, expedited administrative procedure, timely  capture information to solve difficult for business….in addition to the good execution of incentives General of the State, Vinh Phuc also have some incentives for private investors, such as construction of essential infrastructure to the industrial park, monetary support for projects of support industrial production in the industrial zone and clusters…..

Moreover, the participation of the whole  political system and consensus of the people in the province; drastically leading of all related levels focus on the good scheme to improve, enhance Provincial Competitiveness Index 2013-2015 period gave the province’s investment environment more attractive.

Reporter: Results of the survey on the investment environment of the province in recent 90 FDI, DDI shows that the important factors of the success in attracting were dynamics of provincial leaders. So in the last time, what are the specific activities conducted by provincial leaders to “score points” in the eyes of investors?

Mr.Tien Nguyen Hanh: The dynamics of leadership is one of the ten provinces index constituent of Provincial Competitiveness Index (PCI). Vinh Phuc implements policies to attract investment with a clear message “Investor in Vinh Phuc will be citizens of Vinh Phuc; the more effective the enterprises are, the richer Vinh Phuc is”.Thus, in the context of economic difficulties, together with the closely directing of all related levels and sectors, urban districts focus on the good scheme to improve, enhance Provincial Competitiveness Index in the period the 2013-2015, provincial leaders also directly meet and dialogue to capture thoughts, aspirations and timely resolution of difficulties and problems in production and business activities of enterprises.

In 2014, Vinh Phuc People’s Committee has directed Vinh Phuc Investment Promotion Agency along with related departments has been hosted amd worked with 101 delegates with 667 people; including 456 foreigners come to explore the environment investment and opportunities in the province. Including typical investor such as: Sumitomo Group (Japan) survey of business investment infrastructure Industrial Park; The mission of the Organization of Japan International Cooperation Agency (JICA) to examine and implement project planning building workshops for small and medium enterprises in Japan’s leasing in  Ba Thien II industrial zone; Construction and Engineering Company  GS E&C, Toll Logistics Company of Singapore and Australia to explore investment opportunities in the construction of Inland Container Depot ICD;  Portland State University and Arizona State University to learn, in collaboration with the province of training and retraining of human resources for the province; Parway Pantai Group of Singapore research to invest in international hospitals in the province, … Moreover, directing the specialized agency of the Province to provide adequate timely and transparent information policy, investment environment, investment procedures for investors.

Besides, capturing the difficulties and obstacles related to production and business activities of enterprises such as capital, labor, taxes, customs, electricity production, security always cared and closely guided by provincial leaders.  Dialogue Portal Enterprise –Government was maintained more efficient. In particular, Provincial People’s Committee has directed the departments and agencies to strengthen the reform of administrative procedures, especially administrative procedures for investment are resolved under one stop service mechanism at Vinh Phuc Investment Promotion Agency reduced the time to settle down 1/3 to half the allotted time was high appreciated by investors.

Reporter: From the beginning of the year, Vinh Phuc has successfully organized several trips to promote investment in foreign markets: Japan, Korea, Singapore, Indonesia, Maylaysia, United States and European countries, Asia Africa, Australasia. Why do we choose these countries to calling for investment?

Mr. Hanh Nguyen Tien: In 2014, Vinh Phuc province has organized successfully six investment promotional trip planned by the province; sent three working groups to participate in activities to promote investment in Japan, Korea held by the Ministry of Planning and Investment and the Ministry of Industry and Trade of Vietnam.

The tradition investment attraction market of Vinh Phuc in recent years was Japan, Korea, Taiwan, Singapore, Malaysia, and Thailand. These countries had long term relationships with Vietnam; governments of these nations have a clear mandate and specific policies to support the investments abroad, including Vietnam. Moreover, the nations of the strengths of the sectors, with the level of technology are very suitable for the development and attract investment in the province…

In addition to the market, in recent years, Vinh Phuc held investment promotional trips in Europe, USA, Africa and Australia in order to explore the potential market. This is also countries of development of services and industry, has great potential in terms of capital, technology, many large corporations, multinational. Especially the development of service industries such as tourism, transport Logicstic, health, education, urban development, and high technology agricultural production … as requirement of Vinh Phuc province.

In 2014, provincial investment promotional delegation in overseas has organized more than 20 conferences, visited and worked directly with nearly 50 organizations and businesses to mobilize investment. Thereby, we have introduced to promote the image, the potential advantages of the provincial investment environment for foreign investors. At the same time, through these promotional investments, Vinh Phuc province strengthens cooperation with the Vietnam Embassy in overseas and development of good friendly relations with the organizations and local countries of the partners.

 Reporter: To become an industrial province modernized in 2020 of this century, we have much work to do. Could you tell us, what are specific solutions to Vinh Phuc is an attractive destination of investors?

 Mr. Tien Nguyen Hanh: In the competitive conditions to attract investment to intensify among countries in the region and provinces and cities in the country, keeping Vinh Phuc is an attractive destination for investors is a huge challenge.

To implement successfully the objective of Vinh Phuc province become a modern orientation industry in 2020, the provincial Party Committee term XV gave the orientation and implementation measures, including measures to attract resources for development investment, especially direct investment in the province plays a very important role. In order to further improve the investment environment, in addition to the continued implementation of the scheme to improve, enhance competitiveness index 2013-2015 period, Vinh Phuc province has been and continues to perform some the following solution:

First: Promoting and innovating in investment promotion. In addition to focusing on investment promotion in the traditional markets in Northeast Asia, Southeast Asia, Vinh Phuc will promote investment in the European market, Australia, Africa and the United States to attract high levels of technology projects, environmentally friendly, large capital investment, consistent with the direction of the provincial investment. Promote investment promotion activities in place through care, support good business throughout the investment process, production and business in the province.

Second: To promote administrative procedure reform in attracting investment. To Set up transparency all the procedures, administrative procedures processes addressing for investment under the “one stop service”, saving time and costs for businesses; regularly updated, timely information to investors, businesses and new mechanisms and policies of the provincial and central.

Third: Incentives to encourage investors: construction and implement a number of investment incentives in some particular areas: expanding the scope and object privileges on supporting industry; Clean allocation mechanism for social projects of health and education; policies to encourage investment in large-scale projects in tourism, recreation services, Logicstic transportation, high-tech agricultural projects….

Fourth: Focusing in investment infrastructure construction in sync. On the basis of the approved planning, interest in urban infrastructure building investment of Vinh Phuc city in the near future, essential infrastructure for industrial development, urban and services. Every year the provincial budget to spend about 30% of capital investment for the development of key projects, the above essential works mentioned.

Fifth: To develop human resources to meet the needs of the business. In which there will be well implemented Resolution 37 of the Provincial Poeple’s Council for supporting vocational training, job creation and poverty reduction in the 2012-2015 period; Scheme to enhance the teaching and learning of foreign languages in the national education system period 2008-2020 under Decision No.1400 of the Prime Minister, in which teaching foreign language in vocational schools.

Reporter: Thanks you!