Side by Side with Entreprises

Over the recent years, Ba Ria-Vung Tau province’s attraction of investments has increased impressedly, particularly in 2008 with a total foreign investment of nearly US$12 billion. In the first nine months of 2009, the province has lured more than US$6.7 billion and approximately VND14 trillion. Almost all of projects during the past time focus on the fields of industry, seaports, tourism and development of urban areas.

 

So far, the province has attracted more than 250 foreign investment projects with a registered capital of US$25 billion and over 300 domestic projects totally valued at VND115 trillion. Almost all of the projects have been carried out in line with the plan. Some projects on large scale such as the US$1 billion worth Nam Con Son gas pipeline project, the BOT power project Phu My 3 valued at USD412 million, the US$480 million BOT power project Phu My 2.2 have become operational, contributing to socio-economic development of the province in particular and of the whole country in general.

 

The fact of carrying out projects in Ba Ria-Vung Tau province in recent years showed that not only small-sized projects have been promoted promtly, but also projects with capital of more than US$1 billion each have been implemented rapidly as investors have enough financial capability and site clearance is smooth. For example, the Canada investor-conducted Ho Tram tourism site project, licensed in March 2008, has so far completed relevant procedures and started the construction.

 

The steel production project conducted by South Korea’s Posco company limited was licensed in 2006 to be built on an area of 130 hectares in the Phu My II industrial zone with total investment of US$1.13 billion. Currently, the construction of plant is underway and about US$400 million out of the project’s total capital have been disbursed for production of the first phase beginning in October 2009. Some port projects in the Thi Vai-Cai Mep area have been promoted promtly including the SP-PSA project, the Cai Mep new port project, which have operated since June this year.

During the past time, the provincial people’s committee has tried its utmost to improve adminsitrative procedures, implementing the ‘single window’ process and supporting investors to carry out their projects most conviniently. In 2007, the provincial people’s committee has issued Decision No. 23.2007/QD-UBND on procedures involved in investment projects outside of industrial zones, processing zones and high-tech zones on the basis of ‘one door’ at the department of planning and investment. The decision has regulated specifically responsibility, rights of each state unit relating to investment project including investment policy, place, license, and fire fighting in order to ensure the transparent and convinient environment for investors. By doing that, the province has initially created convinient conditions for investors in settling administrative procedures, reducing expenses and time.  

Ba Ria-Vung Tau is currently applying the state’s policies on invetsment encouragement and priority instead of issuing its own policies. During the implementing process, the province always gives most favorable conditions to investors in order to help them possibly enjoy timely and adequately the state’s priority policies as well as behaving fairly enterprises of all economic elements. In addition, the provincial people’s committee has instructed relevant agencies to overcome difficulties and challenges facing investors in order to speed up the disbursement of capitals. Chairman of the provincial people’s committee has spent every Thursday to receive and settle with questions and requirements of investors.

 

 In order to lure more investors and meet the development demand of enterpirses in the future, we, under the provincial people’s committee’s instructions, will promote tasks as follows:

Firstly, we will check and renew the earmarking of projects in the province. In 2009, the province will strive to compelte and submit to the Prime Minister for approval of a master plan for socio-economic development and development of industrial zonoes by 2020; construction of Go Lang, Long Son islands; Big moutain and Small mountain area in Vung Tau city to create the basis of licensing investment projects. The province will inspect stagnant projects and big projects in order to soon overcome challenegs as well as timely support to speed up the disbursement, partcularly compensations for the site clearance.

Secondly, the province will mobilize capitals for investment and development, promote state budget-used projects, give priority to key projects particularly social and economic infrastructures in order to facilitate the implementation of investment projects.

 

Thirdly, continuing to create favorable conditions for investors to enjoy sufficiently the state’s policies and priorities through connecting effectively measures on economic stimulus, consumption and monetary policies as well as ensuring social security, contributing to help enterprises overcome difficulties arising from the currently global crisis. The province will also boost the equitization and create conditions to develop the collective economy.

 

Fourthly, the province will carry out the state’s new regulations on land price, land withdrawal, compensation of site clearance, support and resettlement, as well as adjust and susplement some proceduers involved in investment projects outside of industrial zones in line with the current rules.

 Apart from implementing the above-mentioned tasks, the provincial people’s committee will continue to boost the reform of administrative procedures in accordance with the ‘one door’ model, and maintain the provincial competitiveness index (PCI) 2009 among the top list.