Tuyen Quang Investment Promotion Centre: Focal Point for Investment Promotion

1:56:06 PM | 4/10/2016

Tuyen Quang Investment Promotion Centre, founded in 2015, has quickly completed its personnel and operating apparatus to give advice to the Provincial People’s Committee to coordinate with provincial agencies and local governments to consult and promote investment and support businesses. Vietnam Business Forum has an interview with Mr Truong Xuan Quy, Director of Tuyen Quang Investment Promotion Centre, on this topic.
What is your opinion about the establishment of Tuyen Quang Investment Promotion Centre?
In recent years, Tuyen Quang province has become an increasingly attractive destination to investors as the province has significantly invested in infrastructure, especially transportation, orientated and formed areas of concentrated commodity production and taken advantage of existing potential for tourism development.
The provincial leaders have sent direct invitations to businesses, asking them to conduct surveys and explore business opportunities in the province, and the provincial government has spared no effort to facilitate and support them in investment procedures. To concretise the province’s guidelines and decisions on investment attraction and business support, the province needs a specialised agency capable of assisting investors and businesses to explore investment opportunities, carry out their projects as well as deal with their emerging issues. This agency must overcome limitations in promoting investment and reduce cumbersome administrative procedures provided by different bodies.
Stemming from this reality, Tuyen Quang province made a proposal for establishing Tuyen Quang Investment Promotion Centre and it was approved by the Prime Minister. Under the Prime Minister’s Decision 119/QD-TTg dated January 22, 2015, and affiliated to the Provincial People’s Committee, the centre was established from the merger of three units: the Investment Promotion Centre (affiliated to the Department of Planning and Investment), the Tourism Promotion Centre (affiliated to the Department of Culture, Sports and Tourism) and the Trade Promotion Division under the Industrial and Trade Promotion Centre (affiliated to the Department of Industry and Trade).
Tuyen Quang Investment Promotion Centre is assigned to not only organise trade, investment and tourism promotion activities carried out by three previous centres, but also direct and consult investors when they start to invest in the province. This is one of activities to streamline administrative procedures, reduce the time required to settle administrative procedures, minimise time required and informal costs, and improve the efficiency of single-window mechanism. With a smart, professional, determined and united staff, the centre will overcome every challenge to achieve its tasks and requirements.
Could you please briefly introduce the centre’s typical activities in the past year?
Shortly after going into operation (July 2015), the leadership of the centre quickly strengthened the personnel structure, adopted coordination regulations between the centre and other local agencies, took steps to complete working regulations and publicised investment promotion procedures and processes on mass media.
In addition, the centre advised and supported investors to choose investment locations, rent land, clear business sites and employ workers, namely Ho Toan Joint Stock Company (Tuyen Quang City), Muong Thanh Group and Vingroup, thereby, helping the investors to implement procedures with the shortest time and the lowest cost.
Would you talk about existing difficulties and development orientations of the centre for the coming time?
In fact, the centre still lacks resources, personnel and budget for stronger operations. Moreover, it also lacks in performing its duties.
For more advanced professionalism in investment promotion activities, in the near future, the Centre will continue to study investment opportunities, market potential and develop strategies to identify investment promotion in sectors with local strengths to attract investment priorities. The Centre will also continue innovation investment promotion activities, especially on methods of mobilising and enhancing the professional activities. In particular, the Centre will encourage the promotion of investment activities which are interdisciplinary and inter-regional; focusing on investment promotion activities in place through various forms of support, resolving difficulties and problems and proposing qualified investors.

It will always follow the perspective: The success of the businesses and investors is the success of the province. The Centre is and will be making efforts to improve the efficiency of investment promotion activities to attract more projects and new resources, and better support the process of implementation of projects to become a successful destination for investors.