Thai Nguyen Makes Effort for Better Investment Environment

Being aware of the importance of PCI to investment environment improvement, investment attraction, and socioeconomic development, Thai Nguyen province has adopted many positive solutions to create a favourable environment for investors in the past years. The Party and the government of the province are very active in leadership and administration. Provincial and localities joined effort to carry out the scheme to improve PCI.

 

Dang Xuan Truong, Director of the Thai Nguyen Department of Planning and Investment, said, under the leadership of the Provincial Party, the Provincial People’s Committee has focused on directing competent agencies to review and supplement administrative procedures to shorten the waiting time and provide most favourable conditions for investors. The province has disseminated and raised awareness and responsibility of officials, Party members and civil servants to purposes, requirements and tasks for better competitiveness. In the first five months of this year, the province received 100 investors, including over 50 foreign investors. The provincial government approved 20 projects with a combined registered investment capital of VND2,000 billion, allowed 18 existing projects to add VND1,665 billion of investment capital, and granted new business registration certificate for 120 enterprises.

 

Some large-scaled, modern projects have been approved for planning and investment like Nui Coc Lake tourist zone planning, Western Thai Nguyen urban planning and Yen Binh agricultural service zone planning. Most projects have been carried as committed to authorities. At present, many projects have been put into operation and contributed a lot to social and economic development.

 

The progress of PCI improvement of Thai Nguyen province is clearly illustrated in a picture with other provinces and cities in the region. However, the result in 2012 is not a confirmation to its high ranking in the coming years.

 

Among nine categories subjected to PCI assessment, Thai Nguyen had three categories rated relatively low and average: Business support services, regulatory institution and workforce training. So, in order to maintain and raise PCI ranking more closely to the top group, Thai Nguyen province will focus on implementing comprehensive measures like accelerating administrative reform, publishing legal documents, and punishing corrupt officials, and resolving bureaucracy to improve the trust of investors. The province necessarily increases business support services, organise human resource training programme and introduce jobs. Importantly, the province effectively and timely withdraws experiences from other provinces and cities in the county to work out specific action plans and solutions to create the best investment environment for businesses.

 

Dang Xuan Truong said Thai Nguyen will further reform administrative procedures, apply one-door mechanism to investment administrative procedures and eradicate bureaucracy in order to create the most favourable environment for investors when they locate their projects in the province.