Mobilising Resources for Development Investment

10:57:43 PM | 16/6/2015

With the policy of creating the best conditions for investors, Tay Ninh has become an attractive destination to domestic and foreign investors. Vietnam Business Forum had an interview with Ha Van Cung, Acting Director of Department of Planning and Investment of Tay Ninh province, on some results and orientations to attract investment locally.
Could you please tell us the state of investment attraction efforts in Tay Ninh in the recent years?
Despite huge impacts from the economic downturn, investment attraction in Tay Ninh Province has achieved encouraging results. There have been 223 FDI projects with registered capital of USD 2875.10 million. There have been 177 projects, with 53.8 percent of the registered capital.
There have been 343 projects with a registered capital of more than VND37 billion. There have been 194 operational projects, 44 newly registered projects, and 6 suspended projects. The capital of the projects accounts for 62 percent of the registered capital.
To obtain these results, along with the general policy of the Government, what measures is Tay Ninh implementing?
Besides rapid implementation of resolutions and directives of the Prime Minister on correcting and improving the investment environment, the provincial People's Committee of Tay Ninh province has implemented action plans to improve the investment environment and mobilize resources for investment development. The province also encourages all economic sectors to invest in infrastructure projects to improve the essential infrastructure to facilitate investment.
Besides, the province has stepped up investment promotion activities in various media to promote its image to investors; the investment promotion organization with focus on promotion activities of the province in the potential foreign markets. Besides, such the activities like investment in infrastructure, along with construction of industrial zones to accelerate the deployment of infrastructure in the industrial park to to meet the requirements of the investors and investment in welfare projects to serve essential needs of workers in industrial zones and accelerate the construction of resettlement areas.
The province also focuses on strengthening dialogues with investors and promptly removing difficulties and impediments for businesses, particularly in procedures of granting investment licenses and land clearance and leasing. And the one stop mechanism for investors and for business registration is being implemented.
Also, the province is gradually improving the quality of human resources, promoting socialization in vocational training, creating favourable conditions for enterprises to provide vocational training for workers to gradually meet integration requirements, and creating jobs for the people whose lands are cleared.
The PCI of Tay Ninh is always kept at a good level, which reflects satisfaction of the businesses and the investors. What action plans is the province implementing to maintain this result?
To improve the investment climate and the PCI, the province has instructed the relevant agencies to operate activities regarding dialogues with businesses by getting feedback of the businesses to timely handling difficulties and problems in the manufacturing process of the enterprises.
The province also develops programs to facilitate business matching, labour registration, insurance, payment of taxes, customs, and legal documents of the new province and the government to comply with international economic integration.
The province also adopts comprehensive reforms to make fundamental changes to improve the quality of the administration system. The province continues to raise awareness, responsibility, dynamism, creativity and pioneering leadership of the authorities and public servants to improve business performance. The staff of the province increases their understanding of applying innovative policy mechanisms to resolve business issues, especially the removal of obstacles to the business community to create the most favourable conditions in the legal framework. The responsibility of the leaders of the central and provincial authorities in solving difficulties for businesses is highlighted.
The province provides clear guidelines and regularly updates information about construction management, land, investment licensing, business establishment, and declaration and payment of taxes, fees and charges, and customs. The province has publicized information on the websites of the provincial authorities regarding written legal documents about administrative procedures, application forms, detailed instructions for completing administrative formalities form, and charges and fees prescribed for people and businesses to understand and implement.
In addition to above-mentioned measures, in 2015, the province will invite domestic experts to conduct a survey in the province to evaluate difficulties, feelings and aspirations of the businesses to propose suggestions and practical solutions to remove difficulties for the businesses and maintain the PCI. The province will develop a strategy to support businesses more efficiently in the future.
What directions will Tay Ninh follow to attract investment in the coming years? What kinds of industries and key projects is the province focusing on?
First, the province is to encourage economic sectors in which foreign investment has developed according to plan.
Second, the province mobilizes investment capital sources of the economic sectors on the basis of selection of qualified investors in order to effectively exploit the priority areas of the province, namely: industrial products such as rubber and plastic products, and refined products from agriculture, forestry and fishery, pharmaceutical, cosmetics, products of new energy, renewable energy, and telecommunications and electric equipment; industrial clusters and industrial complex; tourist areas like Ba Den mountain resorts, Ma Thien Lanh resorts, Dau Tieng ecotourism, Vam Co Dong river; commercial centres and supermarkets; border gate economic zones, border markets and wholesale markets; development of market information systems; agricultural investment project under Decree 210/2013/ND-CP to encourage enterprises to invest in agriculture and rural areas.