Bac Ninh Province: High Priority for Spear-Headed Sectors

In 2014, businesses in the province have several difficulties namely smaller consumption market, bigger stock of unsold goods, remaining high interest rates, more dissolved businesses, lower production output, increased unemployment, etc. By September 2014, the conditions were as follows:

 

In September 2014, Bac Ninh granted investment permits to 4 new projects with registered capital of VND240.51 billion and certified 31 investment projects with registered capital worth VND127.46 billion.

 

Since the beginning of 2014, the province granted investment permits to 28 new projects with registered capital of VND2,467 billion and certified 73 investment projects with registered capital worth VND505 billion.

 

As of September, Bac Ninh licensed 842 projects, valued at VND85,694 billion.

 

In September 2014, Bac Ninh granted investment permitted to 21 new FDI projects with registered capital of US$16.91 million and certified readjusted investments for 19 projects.

 

Since the beginning of 2914, the province granted investment permits to 123new projects with registered capital of US$1,482 million and certified one branch office.

By September 2014, the province granted investment permits to 608 FDI projects with registered capital of US$7,610 million.

 

In the present time, concerned authorities should implement Plan 50/KH-UBND of June 7, 2012 and Resolution 02/NQ-CP of January 7, 2013 of the government on solutions to business development, market improvement, bad debts, and focus on the following packages:

 

One, giving priority to spear-headed sectors with assistance and preferential treatment in land and land clearance; encouraging infrastructure development in industrial zones and centres to help investors implement their projects; training and providing workforce; in particular, recommending the Prime Minister on special treatment to big projects (VND1,500 billion upward) of high technology.

 

Two, listing restricted areas and technical conditions such as minimum investment capital (VND20 billion for project outside and VND30 billion for project inside industrial zones, and investor must own no less than 50 percent of the investment capital), terms on minimum investment shares, documents on using advanced and environment friendly technologies, capacity and experience of investors, and other conditions such as commitments of investors and assurances of capital providers.

 

Three, diversifying investment forms to mobilize and increase FDI ratio in infrastructure development (transport and communication, electricity, water supply), encouraging investments by BT, BOT as well as PPP in accordance with Decision 71/2010 of November 9 of the Prime Minister.

 

Four, upgrading investment formalities in conformity with regional, local and sector planning, ensuring technical criteria equal or higher in Vietnam, advanced and environment friendly.

 

Five, improving State management of investment projects, reviewing delayed or non-implemented projects in compliance with related laws.

 

Six, enhancing investment promotion, focusing on orientation and efficiency, supporting and facilitating the implementation of licensed projects.

 

Seven, continuing the administrative reform, simplifying formalities, accelerating the improvement of business and investment environment, maintaining the provincial competitiveness index (PCI) in the leading list.

 

To improve business environment and provincial competitiveness, it is necessary to overcome weaknesses, attract more investments, develop businesses and promote economic growth in the coming years.

 

Concerned authorities have taken active parts in the improvement of business environment, making public their plans, policies and telephone numbers on Website.

 

It is necessary to assist businesses, shortening the time for business registration, reducing formalities, dismantling constraints and improving business management, meanwhile accelerating administrative reform, developing provincial portal, increasing transparency, preparing modern one-stop shops at related offices, reviewing supporting services in the province.