Thai Nguyen Doors Open Wide

In 2009, in spite of impacts of the global economic downturn, the value of registered capital of licensed investment projects still increased from 2008. Particularly, 67 projects were licensed with a combined registered capital of over VND10,100 billion and 133 projects were approved with a total registered capital of nearly VND23,300 billion, up 19 percent from 2008.

 

Regarding foreign investment, in 2009 alone, the province granted investment certificate to one project worth US$15 million - an equivalent to VND300 billion, exceeding the value in 2008 when two projects worth VND70 billion were licensed. South Korean Shin Won Company’s garment company will create jobs for 6,000 local workers. This was the fastest licensed foreign investment project in the province (only five days from the date of the receipt of valid documents) and was also the fastest to be kicked off (after 60 days from the date of receipt of investment certificate).

 

At present, more investors are registering to do business in Thai Nguyen. The progress of executing investment projects is relatively good. However, due to site clearance and limited capacity of investors in couple with impacts of the economic crisis, several investment projects are being executed at a slower pace than the progress. We propose the province to work with investors to accelerate the progress of those projects.

Thai Nguyen is a northern upland province of Vietnam and has many favourable conditions for socio-economic development. Thai Nguyen doors are always open to all domestic and international investors to learn about the potential advantages and strengths of the locality. Besides, Thai Nguyen has constantly improved the local investment environment by applying incentive policies. In recent years, the provincial People’s Committee has issued many decisions to facilitate Vietnamese and foreign investors to do business in the province. Particularly, most important decisions include regulations on investment supporting measures in Song Cong Industrial Zone, regulations on measures to encouraging and ensuring foreign direct investment, regulations on domestic investment incentive measures and policies on rural handicraft development.

 

The province will continue spending on increasing the popularity of local images in a bid to become a key economic zone in the north of Hanoi and a centre the northwest of Vietnam.

 

With potentialities and investment opportunities and increasingly favourable investment conditions, in the coming time, Thai Nguyen will have many opportunities to cooperate with domestic and foreign investors.

To speed up the implementation of investment projects in the province and improve the local investment environment to attract more investors, the province will create most favourable conditions for investors to do business in Thai Nguyen. On the other hand, provincial authorities will continue to direct the master and detailed planning of industrial zones and industrial clusters; concentrate capital and human resources on clearing sites for investors; drastically reform administrative procedures respecting investment and one-stop investment licensing mechanism; build up mechanisms to support investors to operate industrial park infrastructure; select investors with sufficient financial capacity; enhance the performance of the investment assistance committee to quickly solve difficulties investors are confronting; consider selecting investors with adequate capacity to implement their projects; accelerate the inspection and supervision of investment; direct the supply of raw materials, capital, electricity, water and other capitals to implement projects smoothly.

First of all, I would like to express my pleasure and warmest welcome to enterprises with investment projects in Thai Nguyen. I hope more investors will come to Thai Nguyen in the future and expect close and open cooperation between investors and provincial authorities. This is the opportunity to cooperate and support each other to develop on the path of international economic integration.