Determining businesses as an important driving force for development, the success of enterprises as the success of the province, and investors in the province as citizens of the province, is a compass for Vinh Phuc province to build a mechanism for a favorable business environment to draw investment capital. Vinh Phuc has rolled out the red carpet to invite and welcome investors into a business environment with three good things.
Lying in the Red River Delta region, the northern key economic region and the Hanoi capital region, Vinh Phuc province has all types of traffic: road, railway and waterway. The province rests near to Noi Bai International Airport, on the Kunming - Lao Cai - Hanoi - Quang Ninh Economic Corridor and on the northern industrial development belt, enabling it to deploy manufacturing investment projects. Besides, a favorable geographical position and natural conditions, mild climate, good geological structure, no storms, no droughts, no earthquakes, a different terrain consisting of plains, midlands and mountains, with Tam Dao Mountain Range together with majestic primeval national forests bestow the province with opportunities and potential for diverse economic development: Industry, agriculture, tourism and service. The secret of the province to draw investment fund lies in its investment attraction and business development policy built on the consistent view: Businesses are an important motivation for development; their success is the success of the province; and investors in the province are citizens of the province. The business environment of Vinh Phuc province is also highly appreciated for its transparency, fairness and equality.
Vinh Phuc always supports local enterprises, promptly clears obstacles against them doing business in the province, and, at the same time, provides the most favorable conditions for investors to explore the investment climate and make investment in the province. The Vinh Phuc Provincial People’s Committee affirmed to further improve the business investment environment in order to achieve the “three good things”: Good and comprehensive legal environment; good technical infrastructure, and good business service.
Specifically, Vinh Phuc province has created a good and comprehensive legal environment, in which focus is placed on building a complete, open, transparent and stable policy system. In addition to effectively enforcing general investment incentive policies of the government of Vietnam, the province issued a number of localized preference policies. The province focuses on supporting businesses to access land and clear business site, recruit and train human resources, carry out investment procedures and reduce some other expenses for investment preparations. Administrative investment procedures are handled according to the single-window mechanism which reduces the time to settle administrative procedures by a third or a half relative to the government regulation.
With its potential, by carefully considering the development plan, Vinh Phuc has been focusing on investing in fundamental technical infrastructure systems such as traffic, electricity, water, communication and housing for industrial park workers. The province has adopted support policies on infrastructure construction inside and outside the fence of industrial parks and urban areas, large-scale concentrated service areas. Thereby, investors will enjoy better conditions, more convenience and can reduce the cost of carrying out their projects in the province.
To deliver good business, the province regularly cares, captures the situation, listens, understands the case and promptly deals with problems facing enterprises investing in the province. The feedback system works around the clock and settles urgent matters within 24 hours upon the receipt of information. Vinh Phuc province is determined to build fine business culture and build administration friendly to businesses and people.
Nguyet Tham (Vietnam Business Forum)