Nam Dinh, Thai Binh Provinces: Ready to Welcome Investors

VCCI and leaders of the two provinces held private talks with domestic enterprisers as well as foreign enterprises from the European Union, the U.S., Japan, Korea and Taiwan in order to collect their ideas and aspiration, as well as grasp investment opportunities. The conference is expected to launch an enduring and continuous promotion programme for the goal of developing Nam Dinh and Thai Binh provinces.

 

Estimating on investment attraction of the two provinces, Deputy Prime Minister Hoang Trung Hai specified some works that the two provinces need to implement. In order to become attractive for investors and develop the economy, the two provinces need to have clearly defined socio-economic development planning. Besides that, the two provinces need to focus on developing supporting industries. The two provinces, which have huge labour potential and are famous for “well studying” tradition, need to pay attention to vocational training in order to develop the rates of well-trained labourers. This is really a tough challenge for the two provinces.

 

Addressing the conference, leaders of Nam Dinh and Thai Binh provinces pledged to welcome to and try their utmost to help domestic and foreign investors, as well as provide them sufficiently the government’s and provincial current incentive policies on investment. Especially, Nam Dinh and Thai Binh provinces will always consider investors their provincial active residents.

 

Regarding the detailed orientation to attract investment, Tran Minh Oanh, Chairman of the Nam Dinh People’s Committee said that “We are determined to attract investment in five key sectors. Firstly, textile industry will encourage investment and development textile in rural areas. Secondly, mechanical industry such as constructing factories for building ship, huge-sized mechanical plants, building mills to manufacture and install agricultural machines, spare parts and equipment will replace the textile sector and the supporting industry. The third sector includes electronics and refrigeration. The fourth sector is building material production industry. Especially, Nam Dinh encourages investments into new building materials preeminent in the endurance, heat-resistance, rain-resistance, sunny-resistance, slightness and cheapness in order to replace common materials, develop commercial and At-phan concrete to serve building projects. The fifth sector is the food and drink processing industry with priority given to innovating technologies and raising the capacity of current processing and production centres”.

 

Nguyen Hanh Phuc, Chairman of the Thai Binh People’s Committee said that “Thai Binh province has so far promulgated some policies to encourage investment in the province, with a guideline that the province will create favourable conditions for investors on land lease; the province and provincial service sector will inject money into infrastructure improvement for local industrial parks; the province will support training expenditure for labourers of between VND 700,000 and VND1.2 millions per labourer and provision spending for labourers of between VND20,000 and VND 100,000 per labourer. Besides that, Thai Binh province pledged to create favourable, clear and fair conditions on administrative procedures for investors, the provincial People’s Committee has been implementing one-door mechanism in investments field at the provincial Department of Science and Investment, and management boards of local industrial parks will solve investment procedures within only between three and seven days.”

 

In fact, the northern coastal region is projected to become the national and international key economy. Therefore, the conference on investment promotion in Nam Dinh and Thai Binh provinces once again creates conditions to develop quickly and stably the society and the economy of the two provinces in the coming time. Each province has its long-term investment attraction orientation in different fields. Nam Dinh province calls for investment to develop the maritime economy, rural economy and industry; promulgates list of projects calling for investors, and a great number of incentive policies; directs provincial relevant agencies to solve promptly administrative procedures in a bid to create favourable and simple conditions for investors. Thai Binh province, lying on the region impacted by the economic development of Ha Noi, Hai Phong and Quang Ninh, has potential and opportunities for investment and encouraged investments in traffic projects, industry, agriculture, trade, tourism and culture. The province promulgated a lot of incentive policies, a clear business environment, especially, implemented one-door mechanism to solve investment procedures within a maximum seven days. 

 

Nam Dinh and Thai Binh provinces are trying utmost to improve their business environment, taking full advantage of available potential to attract investment. Shengli Vietnam Special Steel Limited Company invested US$ 35 million in the province and at the conference signed a deal with provincial authorities to raise its total investment for its steel production line in the province to US$53 million, said Huang Giang Xin, General Director of the company. Huang also expressed his company’s thankfulness to the Thai Binh government. Huang Giang Xin said that “The Thai Binh People’s Committee has created the best conditions for his company on site clearance. The provincial People’s Committee Chairman worked directly with the Ministry of Industry and Trade and the state-run Electricity of Vietnam to promptly solve shortcomings related to power supply sources for his steel project. The provincial electricity sector also spent over VND 100 billion building over 10 kilometres of 110-kV power lines and has ensured sufficient power supply for the project as pledged. These helps the company operate well over the past time.”

 

In the coming time, VCCI will help the two provinces improve the business environment, raise their Provincial Competitiveness Index (PCI), and establish investment promotion programmes. Right after the conference, VCCI’s working teams will coordinate with authorities of the two provinces to analyze more carefully and deeply the investment and business environment of the two provinces in an effort to give out useful solutions to improve the investment environment.

Dinh La Thang, Chief Executive Officer of the state-run oil monopoly PetroVietnam Group, one of the biggest investors in Thai Binh province, said that thanks to inventive polices of the province since 2006, his group explored and discovered a big oilfield that is estimated to provide between 25 and 50 million cubic metres of natural gas a day. In addition, the group poured money into coal gasification and power projects. PetroVietnam will boost investment in current projects as well as research new projects in the province. The group will introduce its partners’ projects as well as incentive policies of Nam Dinh and Thai Binh provinces, Thang added.

 

Some investors proposed the local governments in the two provinces to reform administrative procedures more strongly, especially, site clearance and promptly announce their socioeconomic planning; and planning for sectors, as well as give detailed investment policies for investors to research and promote their investment.

 

At the conference, Nam Dinh and Thai Binh provinces reached cooperation agreements with foreign and domestic groups and companies. A total of 15 agreements valued at nearly US$ 4 billion were signed at the conference.