Currently, Nam Dinh province has nine industrial zones approved by Prime Minister with a total area of 1,545 ha. Three of them have gone into operation with a total area of 590.45 ha, namely, the fully occupied Hoa Xa Industrial Park, and Bao Minh and My Trung Industrial Parks, at over 30 per cent occupied.
The first eight months of this year remained a tough time for enterprises, although many companies inside industrial parks of Nam Dinh province still maintained stable growth and expanded investment. Industrial parks drew eight projects with a total registered capital of VND320.7 billion, bringing the number of projects in industrial parks to 159, including 139 domestic investment projects and 20 foreign investment projects. The new projects registered to invest in wood processing and servicing, apparel and automobile services. The Nam Dinh Industrial Zone Authority is also determined to revoke ineffective projects. The management board has revoked the investment certificates of seven projects so far this year, bringing the total terminated projects to 30 so far.
In recent years, the management board has actively coordinated with the Department of Planning and Investment of Nam Dinh province to prepare investment promotion activities to introduce local strengths, potentials and advantages to investors. Documents are stored in data disks, printed on brochures and displayed in many languages, including Vietnamese, Japanese, English and Korean, to help investors access all information and characteristics of the investment climate in Nam Dinh province.
Dr Vu Viet Thieu, head of the Nam Dinh Industrial Zone Authority, has put forth proposals to reduce ineffective projects and emphasized the potential for big investors with investment policies in line with the province’s targets. The province intensively develops industrial parks and leases out rentable areas, while encouraging investors to upgrade technologies to enhance product quality and develop high-tech industries like information technology, electronics and biotechnology. The province also encourages investors to shift from outsourcing industries into deep material processing and manufacturing industries, to raise value and competitiveness.
In addition, to improve investment promotion quality, the province needs mechanisms, funds and favourable conditions to deploy successful investment promotion activities. Industrial development is associated with environmental protection, and living, working and housing conditions for workers. Labour law enforcement is closely monitored among tenants of industrial parks.
Feasible projects with slow implementation are supported by local authorities to be accelerated and gone into full operation. Companies using backward technology and machinery are encouraged to update their equipment to boost production and business operations.
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