2:15:14 PM | 11/5/2007
In a bid to clarify the policy of Binh Thuan Province in attracting foreign direct investment capital following Vietnam’s WTO admission, the Vietnam Business Forum’s reporter interviewed Mr. Luong Van Hai, Director of Binh Thuan Department of Planning and Investment, on this issue.
Would you mind introducing several notable foreign direct investment projects last year and how will they affect the provincial socio-economic development?
Foreign direct investment (FDI) capital attraction significantly improved in both quantity and quality last year. FDI projects mainly engaged in competitive fields in the province and created many jobs for local people.
In 2006 Binh Thuan Province licensed 86 new investment projects with combined investment capital VND2,789 billion (US$174.31 million), an increase of 37 per cent in terms of project volume. Of the sum, 35 projects were engaged in tourism, five fisheries projects, 18 agro-forestry projects and 28 service projects. Big projects were the 100-ha Delverton resort project in Hoa Thang Commune, Bac Binh District; the coastal rest-house project; and the 180-ha My Son golf course project in My Son Commune, Ham Tan District.
How do you evaluate the investment flow into Binh Thuan Province this year?
Binh Thuan is a coastal province in the south-eastern region near the southern focal economic zone. The province, 200 km from Ho Chi Minh City and 120 km from Ba Ria-Vung Tau Province, with national roads 1A, 28 and 55 and the north-south railway running through, is a favourable place for commercial activities. Its 192-km coastline holds great potential for tourism and seaborne economic development.
With these advantages combined with sound investment policies, we believe Binh Thuan will continue drawing more domestic and foreign investment capital. Through direct exchanges with investors, we understand Binh Thuan can be the destination for many big investment projects in the fields of industry (coal-fuelled power plants in Vinh Tan - Tuy Phong area, My son - Ham Tan industrial zone and Tanh Linh hydropower plant), infrastructure (Ham Kiem - Ham Thuan Nam industrial zone), seaports and Phu Hai - Phan Thiet shipyard. Tourism continues as the top choice for many big investment projects. Hoa Thang, Mui Ne, Ham Tan, Binh Thanh - Hoa Minh and Tuy Phong are the most active places.
What are important investment promotion programmes this year?
In 2007, Vietnam became a full member of the WTO. We will be able to draw more investment capital into Binh Thuan. To prepare for capital flows, the province will foster and enhance its managerial staff levels, while organising seminars and conferences introducing its potential to investors, contacting potential investors, advertising the province on the mass media, and working with Vietnamese embassies in other countries and international organisations to open investment opportunities in Binh Thuan worldwide.
To assist investors exploring the investment opportunity and carrying out projects, how will Binh Thuan Province reform its administrative procedures?
The province publicizes all investment plans, processes for investment procedures and investment incentive policies on mass media to give investors easy access to information.
Binh Thuan will intensify administrative reform in State organs and apply new procedures on the basis of “simplicity, publicity, legality, favourability and similarity”. In April 2007, the one-door mechanism was applied in the three investment stages; business registration, tax code registration and seal engraving.
To create favourable conditions for investors to carry out their projects on schedule, local governments need to meet their responsibility to resolve difficulties for investors.
The local governments will quickly investigate and resolve problems leading to ineffective licensed projects. They will check twice a month, thus, all difficulties are expected to be solved in time. Regarding the tourism sector, the province set up a steering board led by Mr Nguyen Van Thu, Vice Chairman of People’s Committee, to instruct the effective implementation of tourism projects.
Song Phuong