Creating Maximum Advantages for Businesses and Investors

9:34:54 AM | 12/22/2021

Highly resolved to improve its investment and business environment, Bac Kan province has gradually become one of the most attractive destinations to domestic and foreign investors. Vietnam Business Forum's reporter has an interview with Mr. Tran Cong Hoa, Director of Department of Planning and Investment of Bac Kan province. Manh Dung reports.

What do you think about recent investment attraction outcomes of Bac Kan province?

Effectively fulfilling its key tasks stated in the Resolution of the 11th Bac Kan Provincial Party Congress "Accelerating administrative procedure reform, improving the quality of public services, raising the Provincial Competitiveness Index (PCI) and the Public Administration Reform Index (PAR Index); developing incentive policies for investment in agriculture - forestry, tourism, public infrastructure and public services", Bac Kan province has successfully achieved positive investment promotion results. In the 2016-2020 period, Bac Kan licensed 74 projects with a total registered fund of over VND9,200 billion. Some large investors have started to shift their focus to the province, including Vingroup Group, FLC Group, Onsen Fuji Service Joint Stock Company and Truong Thanh Group.

Right from the beginning of 2021, the province directed all levels and sectors to carry out consistent solutions to stabilize and develop the economy, ensure social security, political stability, social order and safety, boost business activity in the context of COVID-19 epidemic prevention and control Hence, it has managed to stabilize socioeconomic performance, ensured social security, healthcare, labor, employment, poverty reduction and national defense and security.

In the year to December 2021, Bac Kan province licensed 17 projects with over VND1,113 billion of investment capital, bringing its investment projects to 147 with over VND12,364 billion of investment funds. In the year, the province had 102 newly established enterprises (35 more than in 2020) with VND2,169.9 billion. Currently, Bac Kan is home to over 1,100 businesses with a total registered capital of nearly VND16,000 billion. The locality has further developed cooperatives by supporting new establishments. It now has 287 cooperatives (66 more than in 2020) with VND302.4 billion of registered funds and 2,450 members. Local cooperatives have actively developed their production and business along key value chains. Some have actively introduced new products to the market or expanded their product consumption markets.

As an advisory body to the Provincial People's Committee, how has the Department of Planning and Investment endeavored to reform administrative procedures to create the most favorable conditions for investors?

To support businesses as guided by the Government, the Department of Planning and Investment advised the Provincial People's Committee to work out specific programs and plans for implementation of assigned tasks, especially solutions to speed up administrative procedure reform.

To date, many business administrative procedures have been more streamlined than regulations. For example, business registration procedures are settled in a working day and the time to obtain investment certification under the authority of the Provincial People's Committee is reduced from 35 days to 16 days; the time for handling administrative procedures relating to registration for land and land-attached property certificates is slashed from 30 days to 22.5 days and the time to obtain construction permits is shortened from 30 days to 20 days.

Every year, Bac Kan province also collects opinions of businesses and investors about administrative procedures provided by provincial and local agencies and prevents bureaucracy in governmental apparatus.

Bac Kan province has achieved many results in investment attraction. Could you please tell us what solutions will be implemented to further improve the investment environment and create favorable conditions for businesses in the coming time?

In order to continue to create an open, transparent and fair investment environment for businesses and investors, Bac Kan province will focus further on administrative reform. The province will effectively provide business support; strengthen dialogues to promptly remove difficulties for enterprises; develop a support system for start-ups; improve the quality of vocational training to promptly meet their labor needs, especially for skilled workers; upgrade the role of business associations and professional associations; intensify post-licensed inspection into investment certificates; and resolutely handle violating projects.

Better transport infrastructure is the main magnet for investment inflows in recent years. Currently, the Government of Vietnam's decision on investment in an expressway construction from Cho Moi to Bac Kan City and a tourist road from Bac Kan City to Ba Be Lake, linked to Na Hang (Tuyen Quang province) has generated a strong appeal to investment flows. The two provinces of Cao Bang and Bac Kan also proposed the Government invest in building Bac Kan - Cao Bang Expressway.

The COVID-19 epidemic caused more businesses to halt their operations than in 2020 and stalled projects, researches, surveys and licenses. In this context, the province has actively removed difficulties and obstacles for businesses and investment projects in the province, especially key ones.

To develop businesses, from now until the end of the year, Bac Kan province will implement solutions to improve the quality of the business environment and the provincial competitiveness index (PCI) according to Resolution 02/ NQ-CP dated January 1, 2021 of the Government and provide support for local small and medium-sized enterprises (SMEs).

Last but not least, the province will strengthen investment promotion; deal with difficulties against licensed projects and studied projects; strengthen coordination in investment promotion and business support as per Decision 1767/QD-UBND dated September 30, 2020 of the Provincial People's Committee. It will continue to implement Program 591/CTr-UBND dated October 6, 2020 of the Provincial People's Committee on investment promotion in Bac Kan province in 2021.

By Vietnam Business Forum