Investment promotion combined with removing difficulties and supporting FDI enterprises after investment

In recent years, foreign-invested projects have been considered an important component of the socio-economic development of Vinh Phuc province, and have been encouraged and facilitated for long-term development, cooperation and healthy competition. Vinh Phuc is considered by many corporations, value chains and international organizations as an attractive and positive investment destination with advantages such as: stable socio-political economy, abundant human resources, young labor structure; the province has been implementing many measures to improve investment incentive mechanisms and policies to comply with international standards and commitments in new-generation free trade agreements that Vietnam participates in.

During this investment promotion trip to Singapore and Malaysia, members of the investment and finance group arranged working sessions and meetings between Vinh Phuc provincial leaders and a number of enterprises and corporations with FDI projects investing in the province such as GreenPark Group of Korea – investor in Nam Binh Xuyen industrial park infrastructure, investor in Chau Vu Hospital project, Minh Duc Company Limited to listen to the difficulties and problems that enterprises are facing and listen to investors report on the work of supporting legal procedures.

Highlights include a visit and working session with YCH Singapore Group and the group’s logistics supply chain in Singapore and Malaysia. Welcoming the delegation of Vinh Phuc province at the Group’s headquarters were Dr. Robert Yap – Executive Chairman of YCH Group; Ms. Catherine Yap – CEO, Executive Director of YCH Group and the Group’s factory and department directors.

Ms. Catherine Yap – CEO of the Group reported on the progress of the project: “Currently, the T&Y Superport Vinh Phuc Joint Venture and Vinh Phuc province have not been able to complete the procedures for signing a land lease contract with a specific land lease value, because the lease value and the method of lease payment have not been determined. This may affect the investment progress of investors in the Supertport dry port”

Mr. Le Duy Thanh – Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee said that immediately after the working trip, the province will direct relevant departments and branches to promptly remove obstacles, especially the progress of the resettlement project for the people. Chairman of the Provincial People’s Committee Le Duy Thanh also proposed to establish a working group to directly support the Suppertport Dry Port project in order to grasp and resolve the difficulties of the group in the most timely manner.

The delegation also had a working session with the SCALA Logistics Training Academy of YCH Group and learned about the training model for managers who are workers in the logistics sector; the YCH Innovation Center (Supply Chain Angels); the YCH bonded warehouse area and cold storages. Dr. Robert Yap shared at the YCH Innovation Center (Supply Chain Angels): “As Chairman of Supply Chain Angels – a fund specializing in investing in startups related to the supply chain, I believe that YCH Group can fully support Vinh Phuc province in developing innovation, not only in the logistics sector but also for businesses operating in other sectors”.

Mr. Nguyen Xuan Phuong – Head of the Management Board of Industrial Parks of Vinh Phuc province said: “Enterprises all believe that meeting directly with provincial leaders to listen to their feedback on their difficulties proves that Vinh Phuc province highly values the time and business of enterprises. The model of removing difficulties and obstacles for enterprises combined with investment promotion has been implemented before for enterprises such as BH Flex Group, Camsys Group, Youngpong Group and has also left many good impressions on enterprises.”

Head of the working delegation – Chairman of the Provincial People’s Committee Le Duy Thanh emphasized: “It is necessary to continue to promote administrative procedure reform, with assignment and decentralization, timely sharing, removing and resolving business recommendations; creating a transparent environment in handling and resolving work. Business associations need to perform well the function of connecting and supporting businesses with government agencies, with the spirit that each level, each agency, each organization must do well, creating strong changes in each specific field.” ./.