Hung Yen Calls Investment for Hi-tech Sector

Hung Yen Province is near to Hanoi City, Noi Bai International Airport, Hai Phong Seaport and Quang Ninh Seaport. The province has an area of nearly 1,000 square kilometres and a population of 1.2 million people. With its favourable location and a streamlined administrative procure, Hung Yen is home to many domestic and international giant economic groups. Recently, Hung Yen added more efforts to modernise services for companies and investors in the province. One of the most important activities is the activation of a business information portal. On this occasion, Vietnam Business Forum interviewed Mr Nguyen Bat Khach, Vice Chairman of Hung Yen Province People’s Committee on issues related to production, business and investment in the province. 

 

At present, Hung Yen is home to around 1,700 businesses, including some 500 units from other countries and localities in Vietnam. They are mainly engaged in oil, gas, farm produce processing, garment and textile. The majority small and medium enterprises (SMEs) mainly focus on agriculture and handicraft.

 

In addition, Hung Yen also has some 60,000 business households. We are creating favourable conditions for them to develop infrastructure, build additional industrial zones, and export processing zones with an aim to encourage business households to gather in these concentrated zones. We hope that their gatherings will help them cooperate with bigger enterprises, apply science and technology to production and business as well as raise   their awareness of environment protection and product quality improvement to compete with domestic and imported products.

 

About 100 foreign investors are doing business in Hung Yen and they have invested US$1.3 billion so far. Most recently, we handed investment licence to Sumitomo Group of Japan to carry out a project in Thang Long Industrial Zone II and to Bridge Inter Line of South Korea to develop Van Giang service complex.

 

Sumitomo pledged to invest US$80 million to develop the 220-Thang Long Industrial Zone II for big high-tech projects and large production project. Once completed, this industrial zone is hoped to attract investors from Japan and other countries. The zone is expected to draw US$1.4 billion.

 

Bridge Inter Line vowed to invest US$70 million to develop Van Giang service complex, which consists of a 36-hole golf course, a 400-room four-star hotel complex, and luxury apartments for foreigners in Hanoi, Hung Yen and surrounding areas. This project will be carried out in two years and will be completed in late 2007. This is the first of the three projects Bridge Inter Line will invest in Hung Yen.

 

In the coming time, we will give priority to big investors with good projects and high awareness in environment protection, especially those in high-tech fields. We are seeking large-scaled projects with high-tech applications to generate more production value and incomes for the province.

 

We will create all favourable conditions for investors as stipulated in the Vietnamese laws. In terms of incentive and preference treatments, all investors are very concerned about administrative procedures. This is why we built and operated the business portal at http://www.hungyen.gov.vn/business. We post all procedural steps and instructions for investors, which are expected to shorten time for investors in doing business in Hung Yen. At the same time, we will increase dialogues between businesses and investors with leaders of the province. We will listen to difficulties of enterprises to help them stabilise and expand production and business.

 

We are also cooperating with the Ministry of Education and Training and the Ministry of Labour, War Invalids and Social Affairs to build a vocational system to provide sufficient workforce for companies in the province. As for immigrating workers, we will create the most favourable conditions for them to resettle down.