Improving Investment Promotion and Business Support

10:28:28 AM | 5/17/2023

The reorganizing of the Dak Nong Investment Promotion and Business Support Center has so far proven a right and effective decision. Vietnam Business Forum’s reporter has an interview with Mr. Nghiem Dinh Hieu, Director of the center, on its operations as well as its future activities.

Dak Nong Investment Promotion and Business Support Center is supporting Ta Dung National Park to attract investment 

Could you please tell us about the center’s operations after it was reorganized under the decision of the province?

As a lead agency responsible for investment, tourism and business promotion and support, immediately after its reorganization, the center actively planned and implemented many practical activities to improve promotion capacity and attract investment capital quickly and effectively.

The Dak Nong Investment Promotion and Business Support Center researches and assesses competencies, markets, trends and investment partners; and introduces images, environment, policies, capabilities, investment opportunities and typical products of the province at promotion events like the Workshop on Action Program for implementation of Resolution 23-NQ/TW of the Politburo and Central Highlands Investment Promotion in Lam Dong province, the 5th Vietnam-Cambodia People-to-People Friendship and Cooperation Meeting of Dak Nong Province; the 20th International Conference on Dak Nong Volcanic Caves; Vietnam International Tourism Fair in Da Nang (VITM Danang 2022); Vietnam International Travel Mart (VITM) Hanoi 2023; and the meeting and exchange program between provincial leaders with businesses, entrepreneurs and press agencies in October 2022.

Simultaneously, the center builds a database system; introduces a list of projects seeking investment funds; publishes marketing materials and publications on investment promotion; and provides to businesses and investors at internal and external investment promotion events. The center coordinates with news and press agencies to strengthen information and communication about Dak Nong province and provides free consultation and guidance on investment registration procedures to create favorable conditions for businesses and investors.

Furthermore, the center supports businesses to promote and introduce products and connect partners through fairs and exhibitions; reinforce connectivity and cooperation with provinces and cities nationwide and with international organizations and partners; and foster information technology application.

What are the core investment promotion and business support activities of the center in the coming time?

With the working viewpoint of “Adopting professional investment promotion, from passive to active investment attraction; taking investment attraction as a task of the whole political system, at all levels and sectors”, the Dak Nong Investment Promotion and Business Support Center advises the Provincial People's Committee to step up investment and tourism promotion in 2023 and in the coming time. Accordingly, every year, it works out working agendas to attend 7-10 domestic tourism and investment promotion events, 2-3 foreign tourism and investment promotion events, and 2-3 internal and external events.

Domestically, the center focuses on Hanoi, Da Nang, Khanh Hoa, Ho Chi Minh City and other provinces and cities. Internationally, it concentrates on traditional markets such as China, Japan, South Korea, Thailand, Singapore and the United States. At the same time, the center expands cooperation with countries that are signatory to major trade agreements such as CPTPP and EVFTA. The province also closely cooperates with central authorities, Vietnamese embassies and consulates general of Vietnam abroad, and foreign investment, trade and tourism promotion agencies in Vietnam in order to enlist support to introduce images, culture and investment opportunities in Dak Nong.

Besides, determining investment attraction as a key task of the whole political system at all levels and branches, Dak Nong provincial agencies join hands to draw more investment capital and actively work together to solve difficulties for enterprises. It supports businesses to introduce and showcase featured products at promotion events; and encourages people to introduce images of the locality and enhance investment attraction outcomes in Dak Nong province.

Moreover, the Dak Nong Investment Promotion and Business Support Center will step up product marketing and consumption as well as tourism promotion to stimulate consumer demand for shopping and attract domestic tourists. The center will support corporate entities to produce One Commune One Product (OCOP) products, agricultural products and processed foods to directly approach the modern retailing system and hold dialogues to promptly learn about and solve difficulties faced by enterprises and put forth proposals and recommendations presented by domestic and foreign investors.

Would you tell us the solutions for the province to achieve the above orientations and goals and enhance investment promotion and support business outcomes?

The center has launched sector-specific investment promotion programs, focusing on three pillars of economic development, namely alumina industry - renewable energy, high-tech agriculture and medicinal herbs, and tourism development in association with UNESCO Dak Nong Global Geopark.

At the same time, the center has coordinated with relevant bodies and localities to effectively carry out solutions to innovate and improve investment promotion contents and methods, with priority given to selective strategic markets for key industries. It has attracted big domestic and foreign corporations to invest in large projects with high added value, modern technology and strong ripple effects that are connected with environmentally friendly global production and supply chains.

In the coming time, localized investment promotion will be more concentrated by supporting and solving difficulties and obstacles and effectively carrying out projects at all levels and sectors. The center will actively assist large projects and key project clusters with strong ripple effects on others.

The center will build an integrated information data system, fully and promptly update plans, mechanisms, investment incentive policies and legal documents of the province; ensure reliable, universal and transparent database; widely introduce local potential advantages and provide socioeconomic information for investors at promotion events or on the mass media.

The Dak Nong Investment Promotion and Business Support Center will actively approach strategic investors, large markets, business associations, and large banks of countries that are shifting their investment flows to draw them to industries that play an important role in socioeconomic development.

Thank you very much!

According to the District and Department Competitiveness Index (DDCI) of Dak Nong province in 2022 launched by the Investment Promotion and Business Support Center, the Office of the Provincial People's Committee ranked third out of 19 units (70.49 points), climbing two places over 2021 (68.72 points). Wherein, indices that advanced include transparency (7.49 points), dynamism (7.01 points), fair competition (6.90 points), business support (6.88 points) and accountability of agency leaders (7.08 points). These successes illustrated the resolution and consensus of officials and public employees as well as efforts to make breakthroughs in improving the investment environment, including advice on investment promotion, business support and investment support.

Source: Vietnam Business Forum