The southern province of Tra Vinh is an attractive destination for investors. Despite bad impacts of the global economic slowdown last year, the province posted an economic growth of 8.2 per cent. This year, Vietnam will hold ASEAN chairmanship, which is an important event for ASEAN enterprises to get information about investment in Vietnam, including Tra Vinh, said Huynh Van Tao, Director of the provincial Department of Planning and Investment in a recent interview with Vietnam Business Forum.
What were the province’s outstanding investment activities in 2009?
Over the past years, the province has tried to create an open and transparent investment environment and offered more support for local enterprises, particularly since the Investment Law issued in 2005 took effect from July 01, 2006. Last year, amid the world economic crisis, to attract investment and help investors to overcome difficulties, the province selected 2009 as “The year of enterprises” to focus on instructions of the provincial People’s Committee. This helped the province to mobilise active cooperation from departments, agencies and localities in working out solutions to lure in more investment. Besides, Tra Vinh always receives support from central agencies for many key projects including the ship passage to Hau River, Duyen Hai power centre; upgrade of national highways 53; 54 and 60; establishment of Dinh An Economic Zone, Cau Quan and Co Chien industrial parks, opening many opportunities for domestic and foreign investors.
The province held investment promotion programmes in Hanoi and Ho Chi Minh City. At a recent investment promotion event attracting Deputy Prime Minister Nguyen Sinh Hung and more than 650 domestic and foreign firms, companies pledged to invest in 40 projects in Dinh An Economic Zone and the industrial parks of Cau Quan, Co Chien and Long Duc. Provincial leaders came to South Korea to call for investors. Last year, Tra Vinh licensed 24 projects with a total investment US$79.26 million, up 160% on-year, including 17 domestically-invested projects and seven foreign-invested ones. In the year, the locality created 2,100 jobs. Most of the licensed projects are in the areas of textile and garment, footwear, seafood processing, animal feed and food processing. According to the Vietnam Chamber of Commerce and Industry’s, Tra Vinh was ranked the 25th nationwide in Provincial Competitiveness Index in 2008, up three levels compared to 2007. This showed the province’s great effort in improving the investment environment.
What is the role of administrative reform in these achievements?
The local People’s Committee has focused on administrative reform and improving the investment to attract more investors. Administrative reform in business registration and investment licensing is seen as our top priority which needs cooperation from concerned agencies. We have reduced 20 per cent-30 per cent of time and costs for establishing enterprises. We have published procedures and process, forms, time and fees in business registration. The province issued Decision 17/2008/QD-UBND on October 14, 2008 on direct investment; assigned tasks for departments and agenies to deal with problems for investors. The province has carried out the government’s Project 30 to simplify administrative procedures in business registratin and investment licensing.
What will the province do in the coming time to lure more investors?
The prime minister has allowed the province to set up one economic zone, three industrial parks and 10 industrial complexes with a combined area of 39,813 ha by 2020. The province has worked out a mechanism to mobilize capital for site clearance to provide land for investors. Besides, it has invested in developing transport infrastructure as well as power and communications works; continued administrative reform and applied “one-stop” mechanism in investment licensing. It has enhanced fights against corruption and waste to timely detect and deal with wrongdoings; established hotlines in the People’s Committee and agencies to answer questions of people and enterprises, particularly farmers whose land was revoked. The province also organises regular meetings and dialogues with businesses to help them solve difficulties, forming a bridge between local authorities and investors.
In addition the government’s favourable investment policies, the province has also offered its own incentives in land lease, labor training and sci-tech transfer for investors. The locality has improved the website of the People’s Committee to upgrade necessary information on policies, mechanism as well as projects to seek investment. It has joined hands with mass media to introduce its investment potentials inside and outside the country.
M.N
Vietnamese
