Nam Dinh Focusing on Implementing Measures to Improve Business and Investment Environment

In 2012 and in the first nine months of 2013, Nam Dinh province drew many domestic and foreign investment projects. Particularly, the province licensed 45 projects with a total investment of VND7,716 billion and US$64.2 million which registering to employ 5,576 workers and leasing 57.6 ha of land. The province also allowed to existing projects to scale up their investment capital by US$12.8 million. Some projects have the investment capital of over VND500 billion like Thai Binh Minh export garment factory (VND1,165 billion), Thien Nam Sunrise textile dyeing factory (VND504 billion), Hoa Xa export wood processing plant - phase 2 in Hoa Xa Industrial Park (VND1,807 billion), Bao Minh export wood processing factory (VND523 billion), and Nam Dinh water supply and countryside sanitation project (VND793 billion).

 

Investment attraction into industrial zones in the province is also improved. To date, industrial zones are housing 26 projects with a total registered investment capital of VND5,957 billion and US$38.8 million. Foreign direct investment (FDI) companies have paid US$2.9 million to the State Budget. In 2013, tax payment of FDI firms was forecast at US$4 million. FDI firms are now employing approximately 22,000 workers.

In general, investment value remains modest in Nam Dinh province. However, amid current difficulties against companies, investment attraction is making good progress, with a significant rise in investment projects and investment value. This is the foundation for maintaining and fostering socioeconomic growth and development of the province.

 

To address difficulties against enterprises, the Provincial People’s Committee has directed provincial departments, districts and cities to support enterprises to deal with their problems in the spirit of Resolution No. 13/NQ-CP dated May 10, 2012 and Resolution dated 02/NQ-CP dated January 7, 2013 of the Government on a number of solutions to solve difficulties for enterprises, support market assistance and settle bad debts.

 

The province has focused on implementing solutions to facilitate and assist enterprises to access support policies of the government and the province; reducing, exempting taxes and rescheduling tax payment for enterprises; supporting them to build quality management systems and renovate technologies; accelerating industrial and trade promotion; facilitating access to credit sources; facilitating access to land funds, and supporting human resource training for enterprises.

 

On May 29, 2013, the Provincial People’s Committee together with State management agencies gathered in a meeting to discuss solutions to support enterprises to deal with difficulties and promote production and business activities. After hearing reports on business and production operations and proposals, the Provincial People’s Committee discussed and agreed on solutions to help enterprises. The Chairman of the Provincial People’s Committee directed agencies and authorities at all the levels in the province to continue studying and gathering proposals from enterprises to have timely, appropriate supports for enterprises.

 

In the last months of 2013, the Provincial People’s Committee will continue to direct relevant State agencies and departments to coordinate and implement plans, directives and policies effectively, focusing on supporting enterprises to cope with difficulties and supporting workers.

 

In 2011, after reviewing administrative procedures for streamlining, the province had 1,125 procedures. In particular, the Department of Planning and Investment had 216 procedures, accounting for 19.2 per cent of administrative procedures in all State economic and technical management agencies in the province. The department abolished 65 procedures, or 36 per cent of its administrative procedures. The department’s efforts importantly contributed to the successful implementation of the Project 30 in the province. At the same time, the department focused on perfecting and improving the performance of one-stop source mechanism by training service staffs to raise their knowledge, skills and attitudes; investing in synchronous equipment, network systems, software and computers professional services.

 

The department has coordinated with tax sector and police force to use single tax code and business code for enterprises and manage enterprises on the national system. The department has also supplied information, forms, and instructions for business and seal registration procedures in order to shorten the time for business registration procedures to less than three days. It has also effectively maintained coordination with competent business management agencies in accordance with the Decree 43/2010/ND-CP of the Government on the implementation of the Law on Enterprises.

 

The department has actively advised enterprises to deal with difficulties in the course of doing business.

 

Being aware that investment attraction and support have correlative effects and have direct effects on economic growth and development, the Provincial Party Committee, the Provincial People’s Council, the Provincial People's Committee and relevant departments of the province will focus on adjusting policies and measures related directly to businesses and investors to match practical situations. The department will regularly organise investment promotion missions to other localities in the country and to other countries in the world to attract investors with strong financial capacity and advanced technologies.

 

It will accelerate the handover of My Trung Industrial Park for Japanese investors to attract investment projects from Japanese investors, urge investors to build infrastructure in Bao Minh Industrial Park to provide investment spaces for investors, attract investors to build infrastructure for My Thuan Industrial Park, and support investors to deal with their difficulties when they prepare investment procedures. It also keeps track of investment progress of investors in order to revoke ineffective ones and give opportunities for other investors, especially Thermal Power Projects of Teakwang Group (S.Korea) with 2.4400 MW.

With determination and responsibility of the entire political system in economic development and business support, the economy of Nam Dinh province is believed to thrive in the coming time.