Paving Way for Efficient Investment Attraction

 

 In recent years, despite the difficulties of the world economic situation, the investment environment shows many positive signs of recovery, which encourages more large domestic and foreign companies to invest in the province. In 2014, the Department of Planning and Investment has granted investment certificates for 38 projects with total investment of more than VND 1358.09 billions and adjusting investment certificates for 13 projects in the field of mining and mineral processing, biofuel production, and agricultural equipment manufacturing. Particularly, in the first 6 months of 2015, the leaders of the Department of Planning and Investment approved investment policies for the 15 projects with total VND 5,900 billion. Since the beginning of this year, the Department has processed 25 investment proposals, of which 23 projects have been approved with a total investment of VND 1681.5 billion.

 

In terms of FDI, in 2014, Binh Dinh has attracted 9 projects with total registered FDI of US$140.98 million; from early 2015 until now the province has certificated 6 FDI projects with a total registered capital of US$43.08 million; so far, Binh Dinh has 61 FDI projects with total registered capital of US$1.798 billion. Overall, the number of FDI projects has increased significantly.

 

 

Currently, the investment procedures of Binh Dinh have been streamlined; investors are informed about the results for the cases that are completed before the expiry date. The PPC has issued Decision 12/2011/QD-UBND dated 2 June, 2011 on the procedures and coordination mechanisms addressing the administrative procedures of the construction projects of the IPs and local EZ of the Binh Dinh province, which clearly defines the sequence and the specific steps of approving the policy, introducing investment location until the plan is approved, the procedures on land and environment, granting investment certificate, and construction permit.

 

In Binh Dinh, the valid documents of the investors are given priority for processing. The authorities always focus on disclosing guidelines and policies of the Government and the provinces, especially in the investment attraction policies, administrative procedures, and newly issued policies; listing administrative procedures at offices and units. The provincial leaders often meet investors and businesses to promptly resolve any difficulties and problems.

 

Along with clear policies, incentives and practical support to help the investors be more successful with their projects in Binh Dinh, all economic groups are treated equally. With these factors, the PCI of Binh Dinh is ranked top on the lists of the provinces of Vietnam.

 

In addition to preferential investment policies of the Government, investors also enjoy the support policies of Binh Dinh province on workers' training costs, trade promotion, technical infrastructure, and provision of information. Specifically, in order to attract investors, Binh Dinh has applied lowest land rent of the Government's price bracket; Besides, the province has provided policies that support the investors through all stages of the investment process. At the beginning of the investment process, Binh Dinh will provide investors the information, measurements, and support to assess the environmental impacts at no cost. In terms of clearance, investors who invest in key industrial zones will be supported to 100 percent; the investors will pay 50 percent for the clearance costs and the rest is paid by the investors and once the investment is completed, the clearance costs of the investors will be repaid. This contributes to increasing the commitments and responsibilities of the investors. Binh Dinh also supports the investors to mitigate waste and environmental impacts, the investors of the industrial zones will get support of VND 150 millions per hectare; 15 percent of costs of the construction waste treatment plants and 50 percent of other costs regarding roads, electricity and water, and vocational training. With our experience, the province should not fully support investors, leading to over-dependence of the investors.

 

In the coming time, Binh Dinh will focus on promoting construction projects including the Industry-Trade-Service Complex project of the IDC Becamex and Vietnam Singapore Industrial Park. Through the brand of the VSIP, we believe that this project will create major breakthrough in attracting investment in the industrial sector.