10:49:59 PM | 6/5/2014
Since the Provincial Competitiveness Index (PCI) was launched by the Vietnam Chamber of Industry and Commerce in 2006, Vinh Phuc province had been, for four consecutive years, in the top ten provinces with highest PCI ranking. However, since 2009, there has been a downward trend in PCI, particularly with a sharp fall in 2012, directly affecting the provincial investment climate and business. In July 2013, the Vinh Phuc People’s Committee issued the project of PCI improvement in the period of 2013-2015, clarifying causes, solutions, and the specific tasks of each responsible agency.
The Vinh Phuc Investment Promotion Agency (IPA Vinh Phuc) has been established, advising the local government to issue two legal documents detailing administration reforms under the one-stop shop (OSS), shortening the time solving administrative procedures to one-third or half compared with the standards set by the state; fully updating administrative procedures, socio-economic information in five languages, namely Vietnamese, English, Japanese, Korean and Chinese at ipavinhphuc.vn.
Mr Nguyen Tien Hanh, Director of IPA Vinh Phuc said that promoting administration reforms and investment support significantly contributed to attracting investment in Vinh Phuc. PCI in 2013 increased 17 levels and there was a positive move in investment attraction. In the first two months of 2014, Vinh Phuc licensed 16 projects including eight foreign-invested projects (FDI projects) and eight domestic-invested projects (DDI projects) with total registered capital of US$102.4million and US$202.4billion, respectively.
To raise PCI ranking and realize the target of attracting 30 FDI and DDI projects in 2014, Vinh Phuc is mobilising resources for development investment; investment for building basic infrastructure “to the fence” at industrial zones; supporting businesses in vocational training; solving difficulties for enterprises and investors not only in the preparation stage but also during the operation of projects. For FDI projects in supporting industry, in addition to general incentives offered by the State, Vinh Phuc provides extra incentives such as rapidly solving administrative procedures, shortening time to issue certificates of investment and business establishment, supporting vocational training and prioritising employment according to project’s requirements and fund project’s documents. With specific investment support policies and efforts of agencies in implement three key task groups, Vinh Phuc expects that year 2014 will witness a spectacular evolution in provincial PCI ranking.
Le Hien
Vietnamese
