Thua Thien Hue province now has 66 foreign-invested projects with total registered capital of nearly US$ 2 billion. However, foreign investors still face difficulties with the legal framework, human resources, business environment and capital access. To seek solutions to the above issues for existing foreign investors in the province, and to attract more foreign investment capital in the future, the province hosts annual meetings with enterprises. On May 28, 2013, Thua Thien Hue province hosted the conference “Accompanying development of FDI businesses”
With huge investment potential and opportunities, Thua Thien Hue province has become one of the 10 most attractive destinations for foreign investors. To attract more investment capital to support its progress towards being a centrally governed city, the province has issued some investment incentives and support policies for investment projects in the locality which are highly appreciated by investors. The Provincial People’s Committee proposed some measures to attract FDI enterprises like stepping up administrative reform and better implementing "one-stop" mechanisms for investment licensing processes; enhanced legal support and investment incentives; and renovated investment promotion activities to facilitate business coordination and promote production and business activities. FDI enterprises proposed setting up an association for FDI enterprises.
Remarking on the performance of FDI projects in the province, Le Dinh Khanh, deputy director of Thua Thien Hue Department of Planning and Investment, said, although FDI projects are not many in the province, each project has an average registered capital of US$26.69 million and disbursed capital accounts for only 35 per cent of registered capital, they create many new, driving products and boost the name-visibility of Thua Thien Hue province.
Thua Thien Hue province always listens to opinions about solutions to difficulties against the business community like labour, loan, tax and investment incentives. The province also pledges to support the business community, including FDI enterprises, to deal with problems.
Knowing that accompanying and supporting businesses is a vital method of promoting investment, the province has also made a new progress in following the steps of investors. The province hosts direct, open dialogue meetings with businesses to help local officials understand more about difficulties FDI enterprises face, to provide timely support and solutions toward better performance.
For example, at the conference “Accompanying development of FDI businesses” in May 2013, Nguyen Ngoc Tho, Deputy Chairman of Thua Thien Hue Provincial People’s Committee, stressed the importance and positive contribution of foreign investment in the province and expressed the province’s commitment to support FDI enterprises when they do business in the locality. The province has constantly improved administrative procedures to create a better investment and business and environment.
Thua Thien Hue is now a destination for many multinational corporations operating in different industries like Carlsberg (Denmark), Banyan Tree (Singapore), HBI (United States), Scavi (France), Luks (Hong Kong ) and CP (Thailand).
Despite good results in FDI attraction and strong efforts of local leaders to support FDI enterprises, the province should have different policies to support investors after they get investment licences.
Duc Binh
Vietnamese
