Hung Yen Management Board of Industrial Parks Boosting Business Support

12:58:29 PM | 18/11/2020

The Management Board of the Industrial Parks of Hung Yen province has managed to intensively support businesses to deal with emerging and existing obstacles in carrying out investment and doing business, thus gaining the trust of domestic and international investors.

Mr. Pham Truong Tam, Director of the Hung Yen Management Board of Industrial Parks, said, “Hung Yen province-based industrial parks are now home to 446 valid investment projects which registered investment of US$5,464 million, including 251 foreign direct investment (FDI) projects and 195 domestic direct investment (DDI) projects. Some large-scale projects that contribute remarkably to the State Budget are invested by Toto Vietnam, Nippon Mektron, Daikin Airconditioning Vietnam JSC, Hoa Phat Steel Company, and Nutifood Vietnam. Tenants in industrial parks are employing about 60,000 workers, significantly contributing to local socioeconomic development. To help tenants stabilize operations and develop sustainably and build the trust of investors in the friendly and attractive investment destination, the Management Board of Industrial Parks has launched many business supports and improved the investment environment. It offers effective legal support and easy administrative procedures.”

The board has actively reviewed administrative procedures, proposed amendments to legal provisions and administrative procedures to streamline the process, documents and contents and reduce the service time. Specifically, the Chairman of the Provincial People’s Committee approved the simplification of eight administrative procedures related to international trade, investment in Vietnam and construction planning recommended by the board, which significantly reduced the administrative cost by 55% on average. The board has also updated, created and submitted 58 standardized administrative procedures to the Provincial People’s Committee for approval and application. It has amended and supplemented one administrative procedure and abolished 11 administrative procedures concerning investment in Vietnam, entry and exit, environmental protection, labor, international trade under its jurisdiction. It has also reviewed and reduced the processing time of 17 out of 58 administrative procedures under its jurisdiction by over 60% as compared to the regulatory time frame.

In addition, to foster business support, the board has advised the Provincial People's Committee on the establishment and operation of the Japan Business Help Desk in the province; jointly worked with the Business Registration Office under the Department of Planning and Investment in handling investment registration and business registration procedures for foreign investors, ensuring the time for investment registration and business registration within three days (15 working days sooner than the regulatory time). During the reporting period, over 99% of records are handled in time or ahead of regulatory time, of which over 50% of administrative procedures are settled with 60% less time as compared to the regulations. The board regularly updates new legal regulations related to business and tenants’ rights and interests, supports startups, and improves the business investment environment.

The board has also enhanced interaction, contact and dialogue with businesses in many forms to learn about their feedback and promptly handle problems faced by tenants when carrying out investment and doing business. It has coordinated with relevant agencies to support industrial park infrastructure investors to speed up site clearance to have the land for infrastructure construction in industrial parks and remove problems for them when they fulfil procedures for land-use right certificates.

Furthermore, effectively applying the Party policy on business service and investment facilitation, the board has coordinated with relevant agencies to develop and launch information support and business matching programs to enhance cooperation and connectivity of domestic and foreign enterprises in manufacturing and business activities. The agency has actively assisted them to recruit workers by cooperating with relevant units to open job fairs and allowing them to post recruitment information on its website.

In the coming time, the Management Board of Industrial Parks will further improve administrative settlement, accelerate administrative procedure reform, reduce the settlement time of administrative procedures; regularly review the progress of projects, and promptly assist enterprises to tackle difficulties and problems. The agency will further promote investment attraction, with focus placed on developing industries that use cutting-edge technology, generate high added value, employ environment-friendly technology, pay much tax to the provincial budget, and support economic growth and economic restructuring towards industrialization and modernization.

Source: Vietnam Business Forum