Local Economy

Last updated: Wednesday, April 24, 2019


Various Support Policies for Tenants in Industrial Zones

Posted: Tuesday, March 20, 2018

To draw more investment capital into industrial zones, Yen Bai province has accelerated investment promotion, further improved the investment environment, and enhanced its competitiveness. The province directs all-tiers of authorities and sectors to formulate and promulgate specific mechanisms and policies to attract investment capital for industrial park infrastructure; and supports and facilitates infrastructure investors to access long-term soft loans to carry out land compensation, site clearance, ground clearance and infrastructure construction for industrial zones. Vietnam Business Forum has an interview with Mr Nguyen Huu Hien, Director of Yen Bai Industrial Zones Authority. Duy Binh reports.

Could you please tell us some of the remarkable investment attraction results of Yen Bai province-based industrial zones in recent years?
In recent years, Yen Bai province in general and its industrial zones in particular achieved remarkable investment attraction results, thanks to the close support of leaders of the province and Yen Bai Industrial Zones Authority. Specifically, local industrial zones achieved remarkable investment results as follows.
To date, Yen Bai province has 40 investment projects with a total registered capital of VND10,042 billion which hire 240.57 hectares of land. Of the sum, 24 projects with VND3,644 billion are in operation, hiring 123.23 ha of land; 11 projects with VND4,937 billion are under construction, hiring 91.57 ha of land; and five projects with VND1,460.719 billion are in the process of preparation, hiring 25.77 ha.

The US$12-million Unico Global export garment factory in Au Lac Industrial Park invested by South Korean Unico Global Inc is a notable tenant. Going into operation in 2016, the plant employs nearly 1,300 workers, generated VND56.794 billion of revenue in 2017, earned export value of US$492,035, and paid VND144 million to the State Budget. The VND459.139-billion CaCO3 resin and CaCO3 powder grinding factory project invested by An Phat Yen Bai Plastic and Minerals Joint Stock Company in Phia Nam Industrial Park is performing well. In 2017, the project had VND249.5 billion of revenue, VND229 billion of export value and paid VND35.2 billion to the State Budget in 2017. Meanwhile, a VND1,485 billion industrial gas processing plant invested by Vietnam Gas Technology Joint Stock Company in Minh Quan Industrial Park is under construction.

How has Yen Bai Industrial Zones Authority supported and facilitated enterprises and investors in industrial zones?
In the past years, the Yen Bai Industrial Zones Authority has always accompanied enterprises in all stages from investment preparation to project construction and business operation.

The authority has further stepped administrative reform, provided the most favourable conditions for businesses and investors, publicised processes and procedures of investment licensing, investment registration, construction permit and work permit for foreigners.

The Yen Bai Industrial Zones Authority has joined in business meetings hosted by the Provincial People’s Committee and other agencies. It also held many meetings with businesses and investors in local industrial zones to learn about their opinions, proposals and recommendations to have best solutions or recommendations to higher authorities to help them tackle their hardships. Based on their recommendations, the authority will review and handle issues according to its competence. If contents considered are beyond its functions and tasks, it will coordinate with relevant authorities to settle them and deliver results to enterprises or guide them.

To support tenants in industrial parks, the Yen Bai Provincial People’s Committee set up the Investment Consultancy and Public Services Centre affiliated to the Yen Bai Industrial Zones Authority. The body provides services and supports investors when they invest in industrial zones in Yen Bai province.

Could you please tell us some development orientations in industrial zones in Yen Bai province to 2020 and a vision to 2030?
From now to 2020, under the direction of the Yen Bai Provincial People’s Committee, the Yen Bai Industrial Zones Authority will cooperate with related departments and branches to review and advise the Yen Bai Provincial People’s Committee to adjust the development plans of three industrial parks, namely Phia Nam Industrial Park, Au Lau Industrial Park and Minh Quan Industrial Park. The province planned to develop more industrial parks along Noi Bai - Lao Cai Expressway to draw more domestic and foreign investors into local industrial parks.

In the coming time, the Yen Bai Industrial Zones Authority will develop a focused, feasible and appropriate investment promotion plan according to its budget, method and execution time. At the same time, the authority gives priority to large-scale projects, highly competitive products, high-quality and value-added products and projects using advanced environment-friendly technologies. It particularly cares about infrastructure construction projects in industrial parks like traffic, wastewater treatment and solid waste treatment. In addition to improving investment environment, the Yen Bai Industrial Zones Authority will focus on supporting tenants to solve difficulties arising from investment and production activities and continue to attract new investors to develop industrial zone infrastructure such as roads, power grid, water supply, and wastewater treatment systems.

In addition, the Yen Bai Industrial Zones Authority will consider reorganising its affiliated units to carry out its tasks effectively and efficiently. In the coming time, it will advise the Provincial People’s Committee to pilot the site processing project to have 40 ha of land in Phia Nam Industrial Park to serve new investors.

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