Local Economy

Last updated: Thursday, April 18, 2019


Financial Sector Helps Improve Business Environment

Posted: Monday, September 10, 2018

The financial sector of Hai Duong province has been accelerating administrative reform to improve the efficiency of budgetary management and also enhance the local investment environment. Mr Nguyen Trong Hung, Director of the Hai Duong Department of Finance, has given an interview to the reporter of Vietnam Business Forum Magazine.

How do you assess the performance of administrative reform at the Hai Duong Department of Finance in the past years, especially the reform of administrative procedures relating to business operations?
Over the past years, administrative reform focused on administrative procedures, public finance and service quality.

The department regularly reviewed administrative procedures to promptly ask the Provincial People’s Committee to issue decisions on administrative procedures within its jurisdiction. In 2017, the Provincial People’s Committee abolished 13 administrative procedures, announced 41 administrative procedures in place, upgraded the TCVN ISO 9001:2008 national quality management system; and made sure that all administrative procedures were settled with the scope of application of the quality management system. Administrative procedures are publicly listed at single-window divisions, on the website of the department and on the national database portal of administrative procedures. The department also signed a cooperation agreement on delivery of 13 administrative documents and results via public post services. Citizens and enterprises can go to the nearest post offices to send documents instead of directly going to the department.

From the second quarter of 2018, the Department of Finance cooperated with the Department of Information and Communications to survey the current state of information technology and improve the application of “Public Administration Services - Single-window System” software in receiving documents and returning results. Accordingly, all 34 administrative procedures of the department are provided at Level 3, allowing people and enterprises to easily download forms, submit applications and supervise administrative procedure settlement via the internet to cut costs, and enhance the publicity and transparency of receiving and settling administrative procedures.

Carrying out Decision 2556/QD-UBND dated September 20, 2016 of the Provincial People’s Committee on approval of the Hai Duong Provincial Competitiveness Index (PCI) Improvement Project for the period 2016-2020, the Department of Finance issued Plan 2513/KH-STC dated October 6, 2016 and promptly deployed and disseminated to its units and staff, while clearly defining the responsibility of each unit and individual in improving PCI component indexes.

How has the Department of Finance advised and worked with relevant bodies to engage and use this investment source in an effective manner?
For years, the department has always actively taken part in all stages from making master plans, programmes, action plans for socioeconomic development to carrying out tasks and methods of mobilising development investment capital via various funding forms like public-private partnership (PPP), official development assistance (ODA), investment promotion funding, and borrowings from the State Treasury for some urgent, important projects.

To fulfil the Government’s Resolution 35/NQ-CP dated May 16, 2016 on business support and development, to carry out a series of business support solutions and directions of the Provincial People’s Committee, the department has focused on reforming and publicising administrative procedures towards the goal of serving most people and enterprises to do business, reduce time and costs, especially in land valuation, ground clearance, investment support mechanism to the fence of industrial zones.

The department also advised the Provincial People’s Committee to speed up the equitisation of enterprises and non-productive units to attract private investment. The agency has also effectively managed and utilised resources, land, and public assets by reviewing land funds, arranging rational housing, developing bidding plans to select investors, and auctioning land-use rights to generate funds for key projects. In addition, the coordination between financial agencies and State treasury has always been accelerated to reduce the time and procedures of investment payment settlement.

Thank you very much!

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