Devoted and Endeavored to Support Businesses

11:24:25 AM | 13/6/2022

To attract investment fund into four pillars of agriculture, industry, tourism and urbanization, in addition to introducing appealing policies, Hau Giang province has taken drastic action to lift administrative barriers and create an open business environment; and shifted from the attitude of administration to the attitude of service, said Mr. Tran Ngoc Hung, Director of the Department of Planning and Investment, Hau Giang province, in an interview on this issue.

What do you think about the investment attraction and business development results of the province in recent years?

Hau Giang province has paid high attention to investment attraction in recent years. In addition to contacting, working and inviting domestic and foreign prestigious and strategic investors, the Provincial People's Committee has also introduced incentive mechanisms; actively supported enterprises and investors to learn about laws, policies and procedures, and access local advantages, potential, markets and investment opportunities.

Beside external investment promotion, the province always attaches importance to local investment promotion by creating an open and favorable business environment, especially when the COVID-19 epidemic has negatively impacted production and business. With its great determination, the entire political system has stepped in to make a drastic change in the working style, manners and attitude of public employees and upheld the spirit of service of the government to build trust and boost business recovery and development after the COVID-19 pandemic.

With such effort, Hau Giang is catching increasing attention from domestic and foreign enterprises to learn and register for investment. By the end of April 2022, the province licensed 418 domestic investment projects with a total registered capital of VND140,542 billion (353 projects outside industrial zones with VND50,019 billion, four projects in hi-tech agricultural parks with VND316 billion and 61 projects in industrial zones with VND90,206 billion) and 24 FDI projects with US$617 million. Currently, the province has 5,747 companies with a combined registered capital of VND60,511 billion.

Nonetheless, the province is still facing certain limitations in attracting investors and improving the business environment: FDI projects are still modest in number and scale; the planning system is still incomplete; industrial zone infrastructure is not synchronous; the slowest service quality improvement is seen in accommodation, food, transportation, logistics and information infrastructure; and consumption level of people remains low. In addition, slower-than-expected site clearance and resettlement construction also affected the progress of some investment projects.

Could you tell us about some remarkable contents in Hau Giang investment policy in the 2021-2025 period?

In 2021-2025, the province will draw investment capital into four pillars of industry, agriculture, urbanization and tourism that lay the groundwork for other industries to develop. Besides, another area is also being focused by the province: Attracting resources for digital transformation.

Central and local leaders at a working visit to the operator of a solar power plant in Hau Giang province

Specifically, beside two existing industrial parks, the province planned to build and attract investment capital into seven new industrial parks in 2021-2025. Meanwhile, the hi-tech agricultural zone is planned on 5,200 ha but only 300 ha is cultivated, which is also a great opportunity for potential and enthusiastic businesses in Hau Giang.

Our investment priorities are given to clean industry, high-tech agriculture and clean, green agriculture as well as investment projects that use less land and protect the environment.

What does Hau Giang Investment Promotion Conference 2022 mean in this context? What goals and expectations are set for this event?

Carrying out three strategic breakthroughs stated in the resolution of the 14th Provincial Party Congress with aspirations for ongoing development of the entire political system and all people, Hau Giang is focusing on overcoming limitations of economic starting point, scale and development resources; drastically removing "bottlenecks" in the business environment, especially in human resources, infrastructure and site clearance in order to draw more investment funds to create more breakthroughs in the coming time.

In order to materialize the above policy, after more than two years of difficulties caused by the COVID-19 pandemic, Hau Giang is speeding up investment promotion like opening the Hau Giang Investment Promotion Conference 2022.

Hau Giang Investment Promotion Conference 2022 is first and foremost an opportunity to further introduce local potential strengths in agriculture, industry and tourism; and facilitate investors to learn about local incentive policies. The conference is also a forum for authorities, scientists and investors to discuss investment policies and the investment environment, and propose appropriate solutions to investment attraction. Through this conference, Hau Giang province enables investors to transparently and specifically access local potential advantages and key projects; share opportunities and connect resources; and attract many capable and experienced investors to the province. Furthermore, this event is also an opportunity for the provincial government to show its desire, affirm its strong determination to develop Hau Giang province quickly and sustainably, and improve and enhance people's livelihoods.

What do you think about the Market Entry Index of the province? What solutions and activities is the Department currently taking to improve its scores and rankings on the Provincial Competitiveness Index (PCI) in the coming time?

The Market Entry Sub Index of Hau Giang province reached 7.81 points in 2021, an increase of 0.69 points as compared to 2020, ranking second among 63 provinces and cities. Among 19 subindices, nine were above the median and 10 were below it. This sub index looked up in the past year because of high rankings of component indices, with four ranking first among 63 localities (Instructions on conditional business licensing procedures are clear and complete; the percentage of businesses having to delay/cancel business plans due to emerging difficulties in carrying out business registration procedures; the percentage of enterprises having to cancel their business plans due to emerging difficulties in carrying out procedures for business registration amendments; and the percentage of enterprises having to wait more than 3 months to complete all formalities to start working).

In the coming time, the department will continue to advise the Provincial People's Committee to launch solutions for stronger competitiveness, with focus placed on the following contents:

- Improving scores and rankings of declining indicators in 2021 such as: Transparency, time cost, fair competition, dynamism, legal institutions and security.

- Maintaining and further raising increasing indicators such as market entry, land access, informal charges, business support policies and labor training.

Thank you very much!

Source: Vietnam Business Forum