Positive Move in Investment Attraction

10:46:47 AM | 5/6/2019

With a favorable geographic position, abundant resources and the dynamism and friendliness of the provincial government, Vinh Long province has portrayed bright colors on the investment picture by projects of higher value and quality. In particular, after the Vinh Long Investment Promotion Conference in March 2018, many domestic and foreign investors chose Vinh Long to locate their projects, said Mr. Truong Dang Vinh Phuc, Director of the Department of Planning and Investment. Hoang Lam reports.

Could you please describe investment attraction in the province?

In 2018, the province licensed 29 projects with a combined registered capital of VND3,338.16 billion (US$145 million) and US$158.96 million, including 10 foreign direct investment (FDI) projects. Among 32 projects granted investment certificates at the Investment Promotion Conference 2018, three projects with nearly VND195 billion of investment capital have gone into operation, eight projects with over VND2,079 billion are under construction, eight projects with over VND3,869 billion are completing kick-off procedures, and 12 projects are carrying out licensing procedures.

To provide best conditions for investors and businesses, authorities of all levels and branches in Vinh Long province adopted many consistent solutions, focusing on improving the investment and business environment and reforming administrative procedures; actively carried out practical solutions to help them tackle emerging difficulties. With the motto “one-place, one-window", the smooth coordination of the Department of Planning and Investment, the Tax Department and the Public Security has facilitated investors to register business and grant tax codes and seals.

In investment attraction, the province always pays attention to practical projects that match and support local conditions, and selectively license quality projects rather than woo as many projects as possible. Vinh Long puts a premium on creating a favorable, safe and reliable investment environment for investors, always places them in an important position of development, and see their success as the success of the province in the current period.

Determining that the planning must go one step ahead to court investors, in the past time, Vinh Long province completed the 10-year socioeconomic development planning where it will concentrate investment resources and accelerate technical infrastructure construction. Up to now, the province has two industrial zones (Hoa Phu and Binh Minh) and Co Chien industrial cluster; planned and developed three new industrial zones covering an area of ​​about 950 ha and 14 industrial clusters covering ​​about 659 ha. The province has called for investors to construct trade and service centers and urban areas in Ward 2, Ward 4, Ward 8 and Ward 9 in Vinh Long City as well as district centers. Thus, investors will likely see more opportunities in industrial and service sectors in the coming years.

To date, the Vinh Long Public Administration Service Center officially came into operation. How do you think about the presence of the center as well as district- and commune-level document reception and delivery divisions?

On November 19, 2018, the Provincial People’s Committee issued Decision 2542/QD-UBND establishing the Vinh Long Public Administration Service Center. This is considered a breakthrough in administrative reform which helped shorten the time to process administrative procedures and papers and created best conditions for people and businesses to deal with administrative paperwork.

The Vinh Long Public Administration Service Center is the focal point to control administrative procedures, receive and handle feedback and petitions on administrative regulations from individuals and organizations within the jurisdiction of the Provincial People’s Committee and the Chairman of the Provincial People’s Committee. At the same time, the center directs administrative procedures, receives and settles administrative procedures or forward them to competent authorities for settlement, receives and delivers administrative settlement results to organizations and individuals in line with the law. In order to ensure uniform and consistency, the Provincial People’s Committee also issued a regulation on coordination between the Vinh Long Public Administration Service Center with relevant agencies, organizations, individuals and units in administrative procedure settlement; controlled administrative procedures at the center to ensure that it works with relevant departments and agencies to publicize and guide the receipt, settlement and return of administrative results for organizations and individuals. Provincial departments and agencies are not allowed to receive and handle administrative documents if such procedures are assigned to be settled at the center. The coordination must be active, regular and strict to ensure quick and lawful settlement of work, not to cause administrative violations or harassments to organizations and individuals who work with administrative procedures at the center.

The Vinh Long Public Administration Service Center will help improve the quality of modernized public services; provide people and businesses with all public administrative information, services and utilities; receive and deliver administrative settlement results in only one address instead of many to reduce travel time and cost for them. Besides, individuals and organizations, especially infrastructure investors, can implement many administrative procedures in different fields, and receive status updates via automated messaging service. In addition, the center, established in conjunction with district and commune-level administrative procedure reception and delivery divisions, will further strengthen administrative reform in general and administrative procedure reform under the single-window mechanism and improve the quality of modernized public services and serve organizations and individuals better.

Please describe Vinh Long province’s investment attraction orientation in 2019, as well as key destinations for investment promotion and attraction?

In the coming time, Vinh Long will continue to promote local competitive advantages and strengths; identify tourism development as an important economic and cultural growth engine in the long term; and preserve and promote cultural identity and ethnicity. By 2020 and further to 2030, tourism will become a key economic sector as stated in Resolution 01-NQ/TU dated November 6, 2015 of the Provincial Party Committee. At the same time, by 2020 and to 2030, agricultural development will be reshuffled to focus on organic agriculture and high-tech agriculture powered by processing industries.

Besides, Vinh Long province continues to woo investment projects in the list of projects approved by the provincial government. Accordingly, the province will call investment for key projects such as infrastructure investment and operation in Dong Binh and Binh Tan industrial parks, An Dinh and Vinh Long industrial complexes; build export banana and fruit growing areas in Luc Si Thanh and Phu Thanh communes, Tra On district; develop Con Chim Ecological Urban Area; Dong Phu Tourist Area and Tan Quoi Trade - Service Center. It will concentrate on inviting secondary investment projects into industrial zones, especially Hoa Phu and Binh Minh industrial parks, to fill up the remaining area; give priority to supporting industries, electric - electronic equipment production, export agricultural product processing. Vinh Long will further eye key export markets such as Japan, South Korea, the Netherlands and other EU countries, and appeal to capable, experienced multinational corporations to extend their business branches to the province.

Thank you very much!

Vinh Long puts a premium on creating a favorable, safe and reliable investment environment for investors and always places them in an important position of development.

 

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