Asynchronously Implementing Solutions to Attract Investment

In recent years, especially the last 3 years, despite the difficulties caused by the economic crisis internationally and domestically, Phu Tho has still managed to reach its investment targets, thanks to the direction of provincial leadership, local agencies as well as the management board of IZs.

 

In 2011, Phu Tho attracted 6 projects, including 5 domestic projects and 1 foreign project with registered capital of VND704 billion and US$3.8 million respectively; in 2012 with 2 projects with the registered capital of VND19 billion and US$10 million; in 2013 with 6 projects including three domestic projects and 3 foreign projects with the registered capital of VND91 billion and US$44 million respectively. In particular, in the first quarter of 2014, Phu Tho carried out 2 projects of high quality brick production with the registered capital of VND1,100 billion and built a petroleum storage having circulation value equivalent to VND1,000 billion a year. This result promises an increase in local industrial production value and budget revenues.

 

As of the first quarter of 2014, there are 102 projects being in operation in key IZs and ICs in the province, of which there are 58 domestic ones with a total investment of VND7,000 billion, 45 projects in operation and the rest in the investment period. There are 44 FDI projects with the registered capital of US$200 million. Most projects ensure implementation progress, effectively operate and fairly contribute to the provincial budget. Local budget revenue reached VND245 billion in 2011, VND399 billion in 2012 and VND495 billion in 2013; the province also contributes to the State budget through import-export tax from VND170 to VND180 billion per year.

 

To achieve these results, the leadership of Phu Tho in general and the Management Board in IZs in particular have clearly determined targets and implemented synchronous solutions in various fields, with the focus on promoting and introducing potentials as well as advantages of the province to attract investment; timely promulgating mechanisms to encourage investment in the province; focusing on developing strong industries; reforming administrative procedures, shortening the processing time of the administrative procedures for investors in the fields of investment, construction, land, environment and labour; especially procedures for granting investment certificates, building permits and land rent; always creating a healthy business investment environment for investors, minimizing the overlapping test.

 

In the upcoming time, the Management Board will continue to well perform guidelines and policies of the Government and the Province, to remove difficulties for enterprises and ensure stable and efficient production. The Management Board will also actively advise the province to distribute resources in order to accelerate planning and infrastructure investment in key industrial zones; to attract investors in the field of IZ infrastructure approved by the Government; to promote advantages of outbound transport infrastructure such as Trans-Asia route, Ho Chi Minh route which are under construction and will be put into use. Besides, the Management Board also takes prompt actions to strengthen the organizational structure, functions, tasks in accordance with Decree 164/ND-CP of the Government with the aim of ensuring business activities under the one-stop shop mechanism to create the most favourable conditions for those investing in IZs and ICs.

 

With synchronised solutions, investment projects in industrial zones, industrial clusters in the province of Phu Tho have been becoming a positive factor contributing to the socioeconomic development in Phu Tho province.