4:10:37 PM | 3/9/2015
In December 15, 2014, Hai Duong province ranked 11th among 63 localities in attracting FDI, with 321 projects and registered capital of US$6.48 billion. The success is due to both local potential and appropriate policies to attract and keep investors in the province.
Advantages in attracting investments
Hai Duong is among 10 localities with best advantages in infrastructure. The province is highly estimated for the existence and quality of industrial centres, road network, public utilities and access to information technology. Though PCI on infrastructure is regarded as additional consideration, investors see it as most decisive.
According to regional development plan, Hai Duong lies in the middle of the Northern key economic region: 60 km from Hanoi, 45 km from Haiphong and 80 km from Ha Long Bay. Together with neighbouring Hung Yen province, Hai Duong is oriented to developing spearheaded services: transport – warehouse – logistics – IT – finance – banking – science and technology. The orientation helps concerned businesses to invest and develop activities in their business linkages.
Overcoming the economic recession in 2011-2012, since 2014, Hai Duong has resumed FDI attraction in both number and size (75 percent in number and 6.3 times in capital) with average of US$20.2 million per project compared to the US$14.3 million national average.
Foreign investors have engaged in 13 out of 21 sectors of the national economy, with 270 projects in industrial and manufacturing sectors, accounting for US$3.57 billion or 55.2 percent of total FDI in Hai Duong. The two sectors in fact make up 90 percent of registered capital of the province. The remainder is in health, social welfare, real estate, etc.
“Good wine needs no bush”
At “FDI Manufacturers Gathering Day” in October 2014, Vice Chairman of Bac Ninh People’s Committee shared experiences on attracting FDI. Although the smallest province in Vietnam, Bac Ninh ranked 9th among 63 provinces in attracting FDI, including Samsung. He said this is due the fact that “We focus on the leadership and administrative reform, saving time for investors. We decide to work without delay and even at the site to satisfy businesses.” Considering it a good example, Hai Duong leadership has repeatedly improved the investment environment, overcoming weaknesses, attracting right investments - environment friendly and hi-tech projects, upgrading administrative reform, accelerating land clearance, facilitating business activities, removing hurdles especially in banking credits. In addition, Hai Duong leadership has convened periodical dialogue with businesses, annually or every 6 months, to get their recommendations and find solutions. “Good wine needs no bush”, by deeds, no doubt, Hai Duong will attract more and more investors.