Hung Yen Investment Attraction: Strong Growth in Both Quantity and Quality

11:26:28 AM | 3/3/2021

During the term 2015-2020 and especially in 2020, despite many difficulties and challenges due to the impact of the Covid-19, Hung Yen's investment attraction still grew strongly in both quantity and quality with many big projects promoting socio-economic development of the province. Vietnam Business Forum reporter had an interview with Mr. Trinh Van Dien, Director of Department of Planning and Investment of Hung Yen province. Hoai Nam reports.

Can you tell us what efforts Hung Yen has made in the mobilization of resources for development investment to effectively attract investment projects?

During the past term, Hung Yen has focused on mobilizing resources for development investment, in which non-state investment capital accounts for a high proportion. Total development investment capital in the 2016-2020 period will reach over 157 trillion VND. The work of attracting investment and developing infrastructure has achieved positive results, breakthrough in transport infrastructure, construction of industrial parks and industrial clusters. The province has effectively implemented the transport development program and urban development program of Hung Yen province for the period 2016-2020. The province has completed investment in more than 1,000 km of roads at all levels, contributing to creating a smooth traffic network, conveniently connecting Hung Yen with Hanoi and other provinces in the region. The completed arterial roads create great attraction to investors, such as: Hung Ha Bridge and highway connecting Hanoi - Hai Phong highway with Cau Gie - Ninh Binh expressway (phase 1); La Tien Bridge and DT.386 road; upgraded and expanded Highway 38, embankment of Luoc River. Many district level essential projects and invested infrastructure projects contribute to the completion of new rural construction at commune and district levels. At the same time, the province promotes the development of information technology infrastructure; 100% of communes, wards and towns are provided with internet services, fiber optic network and 4G mobile coverage.

With the focus on investing and completing synchronous traffic, technical and urban infrastructure, in the period 2016-2020, Hung Yen province has attracted 850 investment projects, an increase of 40% compared to the 2011-2015 period, bringing the total number of projects registered for investment in the province to 2,000 (of which: 1,513 domestic projects have registered capital of over 186.7 trillion VND; 487 foreign investment projects have registered capital over 5.18 billion USD, among total registered capital equivalent of over 13.3 billion USD). In which, it attracts a number of projects with large investment capital, advanced technology, capable of deeply participating in regional and global chains. The structure of investment attraction has had a positive shift, focusing more on projects using high technology, supporting industries.

In addition, the province has issued a mechanism to encourage investment in industrial complex development and a state management coordination mechanism for industrial complexes. In the 2016-2020 period, 13 industrial complexes were established, bringing the total to 24 industrial complexes, attracting 535 investment projects and over 600 production and business establishments in industrial complexes.

So what decisions has Hung Yen province made in attracting investment as well as focusing on attracting in fields and areas?

What Hung Yen province is implementing is the task of attracting and selectively receiving investment projects with full potential, focusing strongly on planned industrial zones and industrial complexes; basically stopping accepting loose production projects outside industrial zones and industrial zones.

In addition, the province focuses on completing the investment policy decision procedures for Industrial Park No. 1, Industrial Park No.2, Industrial Park No.3 of Ly Thuong Kiet Urban - Service Industrial Park in the area of 3,000 hectares. Ly Thuong Kiet Urban-Service Industrial Park has 8 industrial zones, inland clearance ports, logistic services and housing for workers. The province is also completing procedures to expand Thang Long II Industrial Park, expanding phase 3 with an area of 180.5 hectares, increasing the total area of the whole area to 525.7 hectares. Yen My II Industrial Park has expanded with an area of 216 hectares, increasing the total area of the whole area to 313.5 hectares. Those industrial zones have received domestic and foreign investment projects; especially projects of Japanese enterprises, projects using high technology, creating a lot of added value, protecting the environment, creating many high-income jobs, making great contributions to the budget.

At the same time, the province has completed the necessary procedures for the construction of Phase II of the road connecting the Hanoi-Hai Phong expressway with the Cau Gie - Ninh Binh expressway and the overpass at the National Highway 39 intersection; speeded up the construction progress of Ring Road 3,5 and Ring 4, speeded up the establishment and construction of technical infrastructure, and put into operation the zones and industrial complexes.

The province has continued to improve the investment environment, actively attracted businesses to industrial parks and industrial complexes, focused on solving difficulties and problems and drastically directing the investment preparation; implementation of investment projects, especially investment schedule and site clearance. The province has also promoted trade and investment, taken measures to change the supply of imported raw materials, and diversified the export market for textiles, footwear and electronics.

In 2019, Hung Yen's PCI index has made progress compared to the previous year: the total score reached 63.6 points, increasing by 2.94 points, ranking 55th in the country and up 3 positions compared to 2018. In order to improve the PCI index in the coming years, what solutions does Hung Yen have?

Through research and analysis of the PCI component indicators of 2019 of Hung Yen province announced by VCCI, the Department of Planning and Investment has advised the Provincial People's Committee to promulgate many policy mechanisms, accompanying businesses removing difficulties in accessing development resources, especially land. Speeding up site clearance is the key solution to improve the PCI. At the same time, the province has expeditiously implemented projects with investment policies; intensified inspection, examination and urged the implementation of investment commitments, ensured compliance with regulations, especially the law on land, investment, construction and environmental protection. The province has strictly handled projects causing environmental pollution, and projects with delayed progress, ineffective use of land, or failure to comply with law and investment commitments. The province has created favorable conditions for the strong development of the private economy, especially small and medium enterprises; encouraged the development of large private economic groups and enterprises in the province and in the country; strived to establish more than 1,000 businesses/year. Hung Yen has also attached importance to the development of handicrafts and economic cooperation; promoted the development of enterprises and cooperatives to provide services in rural areas. It has renovated and improved efficiency of investment promotion at home and abroad; and proactively prevented and coordinated in a timely and effective settlement of investment disputes, especially international disputes.

In the coming time, the province will continue to synchronously and drastically implement the Central resolutions and directions of the Government on administrative reform, consolidated the organization of the government apparatus at all levels in the direction of streamlining from within, implemented the administrative reform project, created a favorable business investment environment, and improved the Provincial Competitiveness Index for the period 2016-2020. The province has set up a Center for Public Administration to promote online public services, and improve the PAR index, gradually tightened discipline, enhanced the responsibility of the contingent of cadres, civil servants and public employees in public service activities; improved the satisfaction index of people and businesses.

In addition, to improve the PCI, Hung Yen province also focuses on building a dynamic government, promoting efficiency in management and administration to continue to bring satisfaction to investors and the business community so that Hung Yen is always a reliable and attractive destination for investors.

Source: Vietnam Business Forum