Last updated: Thursday, May 23, 2013
Attracting Investors to Develop Industrial Zone InfrastructurePosted: Wednesday, June 20, 2012
From 2012, Ben Tre province will continue investing and expanding many new industrial zones to create space for industrial companies. To do that, the province will attract investment capital for the construction and development of industrial zone infrastructure.
Huynh Van Nuoi, Director of Ben Tre Industrial Zones Authority, said global and domestic economic slowdown diminished investment flows. Hence, in the first quarter of 2012, the authority worked closely with relevant bodies to attract investment capital. In the quarter, it granted investment certificates to five investment projects with total registered capital of VND1,155 billion (US$55.5 million), of which four were foreign-invested (US$54.411 million). This was a pretty good signal in the context of economic challenges.
To draw more investment capital in the coming time, Ben Tre decided to set up an investment promotion centre affiliated to the Provincial People’s Committee, the governing body, to provide information, access negotiations and support, together with other functional agencies, investors to solve their problems and quicken project implementation, especially in land affairs.
Industrial parks will coordinate closely with the Investment Promotion Centre and business associations to lure investors to build and operate infrastructure in industrial parks, disseminate information and favourable conditions for investors to invest in industrial parks approved by the Provincial People’s Committee.
Mr Nuoi said Ben Tre province has a lot of advantages for investors, including the abundance and diversity of marine and gardening economies, the proximity to the centre of southern key economic zone, rich land resources, agricultural and aquatic materials for processing industries, and a young workforce.
From 2012, Ben Tre province will continue investing and expanding many new industrial zones to create space for industrial companies. At present, the locality is giving priority to construction and operation of infrastructure in industrial zones, because the current two operational IPs are out of rentable land. It will work out detailed planning for industrial zones approved by Prime Minister for investors to study and make investment decisions.
In addition, the province provides support for investors equivalent to 30 percent of site clearance costs (financial duties are borne to investors). It gives land for resettlement, worker houses, and logistic depots for industrial parks. It also hosts investment promotion activities to attract secondary investors.
For authorities, the reform of administrative procedures is important to reduce the time and obstacle for investors. At present, the Ben Tre Industrial Zones Authority is applying the ISO 9001 - 2008 quality management system and the one-door mechanism to administrative procedures. Mr Huynh Van Nuoi added that the Ben Tre Industrial Zones Authority is also authorised to perform all investment procedures, from project appraisal, investment approval, construction permission, environmental impact assessment and foreign labour employment permits. Investors just need to work with the authority to have all investment procedures done. This is highly appreciated by investors in industrial parks.