An Giang - Efforts to Build Investor Confidence

4:41:36 PM | 14/5/2014

Compared with other Mekong Delta provinces, An Giang does not have many geographic advantages to attract investment capital flows. However, the province has created a strong pull to domestic and foreign investors with its endeavours to improve service quality and build up investor confidence, thus helping raise its provincial competitiveness index year after year.
Due to global economic downturn, the amount of investment capital in An Giang province was affected substantially. Some projects were slowed down, thus affecting the overall socioeconomic development plan. But, with its potential, and particularly the efforts of the local government, more investors are coming to An Giang.
The Department of Planning and Investment said An Giang province approved 63 investment projects in 2013, including 41 newly licensed projects with a total registered capital of VND4,761 billion and 22 adjusted projects. Also in 2013, the province handed investment certificates to 53 projects, including 35 new projects capitalised at VND3,564 billion and 18 adjusted projects. Investment data were worse than 2012 but An Giang remained an attractive destination for investors. As of end-2013, An Giang province approved in principle 636 projects with an expected registered investment capital of VND84,399 billion.
In 2013, An Giang province granted investment certificates to six foreign entities, including three companies, two branches and one representative office, with a combined registered capital of US$7.4 million. Thus far, the province has 19 foreign direct investment (FDI) projects in force with a total registered capital of US$53,630,190, of which US$41,612,085 has been disbursed, accounting for 77.59 percent of the registered value.
These positive results come from the great efforts of An Giang province to attract investment capital. In addition to general investment attraction policies of the State, the province has flexibly provided support for investors, especially administrative matters.
With its functions and duties, the Department of Planning and Investment of An Giang province has advised the Provincial People's Committee on investment attraction issues. Particularly, in 2013, the department collaborated with the Office of the Provincial Party Committee to organise a symposium entitled "An Giang economic restructuring towards sustainable development in international economic integration period" and worked with the Management Board of the An Giang - Sweden Cooperation Programme Project to open a workshop to introduce potential investment projects and international cooperation projects between An Giang and Sweden, to provide information about the investment environment and potentiality for domestic and foreign investors.
To improve the investment climate and to enhance the provincial competitiveness index (PCI), the department also advised on the organisation of the workshop on PCI 2012 analysis and solutions for 2013. Then, it submitted to the Provincial People's Committee a draft decision on the PCI improvement plan for 2012-2015 period, with a vision to 2020. Hence, the PCI of An Giang province has steadily improved in the past years.
Administrative reform is one of the key tasks of An Giang province in recent years as it aims to create favourable conditions for citizens, businesses and investors. The province has built plans for administrative reform in 2011-2015, particularly the "single-window” and “one-stop shop” mechanism in business and investment registration. The Department of Planning and Investment also proposed the Provincial People's Committee on solutions to investment environment improvement, investment attraction and resources mobilisation for economic development investment.
In the coming time, to support and facilitate businesses and investors to do business in the province, and to maintain a high PCI ranking, the Department of Planning and Investment said An Giang province will continue to review legal documents to get rid of inconsistent ones. This is considered a regular task.
With attractive and flexible investment attraction policies, An Giang will continue to be an appealing destination for domestic and foreign investors.
Hoang Ngoc