Troubleshooting for Investors

9:43:03 AM | 9/11/2023

An Giang province has been successful in attracting numerous investment projects, thanks to its attractive investment policy. However, the province is facing challenges due to the global economic slowdown and legal issues, which are causing hindrances and delays in many projects. To address these difficulties, the province is implementing measures to support businesses and investors in dealing with their challenges.

The An Hao solar power project in An Giang province

Nguyen Thanh Binh, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, said that An Giang province always sees the success of companies doing business in the province as a measure of its success in administration and economic development.

“Knowing that companies are experiencing a difficult period, in addition to central support solutions and policies on finance, credit and tax, the government of An Giang province will continue to accompany businesses in various forms to promptly grasp, identify and remove difficulties for them when they carry out their projects," he said.

The Provincial People's Committee assigned relevant agencies to urgently study and advise it to promptly apply new central regulations and policies to create a solid legal basis for investing activities in the province, while reviewing the project progress to figure out their difficulties and obstacles to be addressed.

An Giang province is also reviewing the process of settling investment project procedures; and clarifying and assigning responsibility and accountability to agency leaders in carrying out solutions to step up administrative reform and improve the Provincial Competitiveness Index (PCI), an important indicator to gauge the commitment value and the message of An Giang province to investors.

Specially, to support companies to tackle difficulties and obstacles and speed up their project progress, the Provincial People's Committee issued Decision 785/QD-UBND dated June 1, 2023 on establishment of a special working group responsible for reviewing and removing difficulties and obstacles and supporting the implementation of investment projects in An Giang province, led by the Chairperson of the Provincial People's Committee, assisted by vice chairpersons of the Provincial People's Committee, the Director of the Department of Planning and Investment, agency and local leaders. The working group is responsible for directing, inspecting, urging, supervising, removing and solving difficult matters for enterprises and investors when they study, carry out investment projects and do business in the province.

In addition, when an investor registers to study and wants to invest in a project, the Provincial People's Committee will assign relevant agencies to support and guide it to survey locations, review the legality of planning, determining scale, prepare documents, and carry out the order and procedures of investment registration, investor selection and investment incentives in place (if any) for investors to consider before making any investment decision.

As for projects under construction, agencies always support investors, examine their difficulties and problems for workable solutions within their jurisdiction or promptly propose them to competent authorities for settlement. If difficulties happen to specific fields, the Provincial People's Committee will assign assistant groups of the Provincial Business Support Board such as General Group, Planning - Construction Group and Site Clearance Group to learn about their problems and support investors to carry out site clearance procedures to have land for their projects, speed up the implementation of planning ratification, construction permission, land allocation, land lease, land repurposing and land-use certification procedures to soon launch and complete their projects.

The committee periodically hosts meetings between local authorities and domestic and foreign companies to inform socioeconomic development situations and disseminate new regulations on investment to them. These events also help authorities know difficulties faced by local companies and investors to discuss and seek effective solutions.

“In order to effectively implement the above solutions, the province will foster innovations, uphold the sense of responsibility of each level and each branch and adopt an effective control, inspection and supervision mechanism. I hope that the business community will continue to support and side with the Provincial Party Committee and the Provincial People's Committee on the way to realize socioeconomic development goals of the province,” he added.

By Viet Van, Vietnam Business Forum