"Ba Ria - Vung Tau always eagerly welcomes and receives investors undertaking fact-finding missions and investing in the locality with the message: Come to Ba Ria-Vung Tau Province, industrial project support and logistics services zone, investors are welcome and will be successful." This is confirmed by Mr Dang Minh Thong, Deputy Director of the Department of Planning & Investment of Ba Ria-Vung Tau province in an interview with Vietnam Business Forum. Minh Thom reports.
What is your assessment on the investment environment and investment attraction results in Ba Ria - Vung Tau since the implementation of the new Investment Law?
Ba Ria - Vung Tau is a coastal province, located in the Southern key economic zone, adjacent to the nation's largest economic centre Ho Chi Minh City, and Dong Nai. It is located on the Trans-Asia route, and is an important sea, air and road transport hub with many beautiful beaches and primeval forests, all very favourable for domestic and international exchange.
Since the Investment Law and Enterprise Law of 2005 took effect, investment attraction in the province has become very lively. Quite a few large-scale projects in seaport, tourism, and industrial production, namely Long Son Petrochemical Complex, Posco Steel Plant, Ho Tram Strip - Asean Coast tourist site, Saigon Atlantis Hotel Resort, SP-PSA International Port and Tan Cang Cai Mep International Port, have been implemented in Ba Ria - Vung Tau, becoming the driving force behind the growth and economic restructuring.
On the basis of potential promotion and improved investment environment, in the period of 2006-9/2011, the province has attracted as many as 243 FDI projects with total investment capital of US$ 25,563 million, and 269 domestic investment projects with total registered capital of VND 144,158 billion. In 2012 alone, it is expected that 19 FDI projects will be granted investment certificates with total value of US$ 465 million and 34 domestic investment projects with total value of VND 38,428 billion.
Creating an open investment environment and conducting administrative reform in the direction of simplification is considered a main "channel" for attracting investment capital. To what extent has the province paid attention to this issue?
Working out measures to create an open investment environment and accelerate administrative reform is one of the key tasks given special focus by the province. Investors coming to Ba Ria-Vung Tau will be guided by the Department of Planning and Investment to do procedures on investment, business registration and investment certificate in compliance with the one-stop model.
To assist investors in the acceleration of project implementation and transfer of registered capital, the province has focused on measures including supporting compensation and site clearance, investment in technical infrastructures outside project areas, and the regular organization of exchange meetings and dialogues with enterprises, and continues to further simplify administrative procedures for investment and business registration in Ba Ria-Vung Tau.
In the spirit of cooperating with enterprises in dealing with difficulties and promptly meeting the reasonable requirements of enterprises, over the past time, provincial leaders and relevant authorities have made great efforts in administrative procedure reforms, following one-stop mechanisms and thereby assisting investors in project implementation in the most favourable way. Every week, Chairman of provincial People’s Committee spends one working session receiving investors and addressing the issues they raise. In addition, the inter-branch support team led by Vice Chairman of provincial People’s Committee organizes meetings every two weeks to seek solutions to remove obstacles and facilitate project implementation. Besides, at the monthly meeting, the provincial People’s Committee directs concerned agencies and district-level People’s Committees to regularly check the progress of project implementation and propose solutions to obstacles.
Problematic planning issues are prevalent in many localities. Lack of planning can be a serious obstacle when calling for investment. So how has Vung Tau-Ba Ria province removed this bottleneck?
We have always laid special focus on planning. Therefore, almost all planning has been established and is publicly available to serve as the basis for calling for investment or directing investment to the areas or locations that have potential for growth, ensuring sustainable development.
In the implementation process, the province has conducted regular reviews and timely amendments to make planning respond to the actual situation (eg. adjustment of master planning for Con Dao area and Phu My new urban area...). Additionally, to respond to the call for investment, the province has directed competent authorities to establish new planning to meet the development need, such as planning the development of supporting industries, planning for construction of Nui Lon-Nui Nho and Dao Go Gang, and planning for Con Dao tourism development.
However, inter-regional planning is still unsynchronized and problematic, failing to promote the full potential and advantages of each locality in the region. In this regard, the Department of Planning and Investment has advised the provincial People’s Committee to review and adjust the planning to ensure sustainable development and accelerate investment in inter-regional transport projects.
In the current context, attracting investors is not at all simple. And it is even harder to accelerate the progress of construction projects. What measures has the province have come up with to address this?
Global economic recession has exerted a certain impact on the progress of many projects. Beside, some investors always try to speed up the progress of construction works, such as Posco SS Vina Steel Plant, China Steel Sumikin Steel Plant, and Ho Tram complex tourist site, while others face difficulties in raising capital, which has led to delayed progress against the committed schedule.
To encourage investors to overcome difficulties, continue to support investors in speeding up investment progress and accelerate the transfer of registered capital, given the actual situation, we will consider the extension of project implementation period upon investors’ request. Besides, we will also focus on support in compensation and site clearance and investment in technical infrastructure around the project areas, especially traffic routes leading to the project area. In parallel, we will pay attention to addressing difficulties or obstacles met by investors during the implementation process, increase the meetings and dialogues with enterprises so they can update us immediately of any difficulties and thereafter work out prompt solutions.
For the period of 2010-2015, Ba Ria-Vung Tau plans to promote its sea economic strength and strive to become a modern industrial province and seaport city in 2015. So with this goal, in which direction is the investment of the province made to promote its full efficiency and significantly contribute to the industrialization and modernization of the province?
Ba Ria-Vung Tau is tasked by the Government to establish industrial parks specializing in mechanical engineering for investment by Japanese businesses. To perform the above task, the province has conducted planning and construction of infrastructure for specialized areas including integrated industrial zones, port and logistics areas and service areas. Simultaneously, policies on the support and recommendation on high preference have been worked out so as to facilitate the operation of Japanese businesses in the field of supporting industrial production in Ba Ria-Vung Tau province.
With the strategy to build Ba Ria-Vung Tau into an industrial province and port city in the future, the province has focused on attracting investment in industry and the development of commerce and service. For industry in particular, priority is given to supporting industries for mechanical engineering, electricity and electronics, chemicals, equipment for marine, oil and gas exploiting and processing, and shipbuilding. On logistics service, attention is paid to infrastructure investment, storage, transport, human resource training and other related services. Investment is also made in transport infrastructure, including Bien Hoa-Vung Tau railway, 991 B road and Phuoc Hoa-Cai Mep connecting Avenue 51 with the port system in Cai Mep area.
Besides, the province continues to attract investment in areas that have traditional strengths such as tourism, seafood processing, training and health.
Thank you very much!
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