Update: 09:00 | 01/01/2020
(BGO) – The northern province of Bac Giang has been recently ranked among the top leading provinces in investment attraction, particularly securing the sixth position nationwide in 2019 in approving for new projects. In spite of the impressive results, there are many thing to be done in term of investment attraction to promote the effectiveness of “fortuned businesses, developed province”.
Great effort in improving the investment environment
The provinces and cities prioritise the investment attraction in and outside the country as the most important issue to exploit the potentials of land, labor to boost up the socio-economic growth.
The erection line of electronic motorbike at PEGA Global Electric Vehicle in Noi Hoang Industrial Cluster (Yen Dung district).
Meanwhile other localities are blooming with the investment attraction activities via numerous conferences, Bac Giang province selected to gradually conduct each step with the best investment promotion motto of improving the investment environment.
The issuance of the provincial Party Committee’s Resolution No 73-NQ/TU dated May 6, 2016 about improving the investment environment in the province in the period 2016 – 2020 created impression on the first days.
The Resolution was specified into tasks and assigned to each organization and agency for implementation, which urged the leaders of the province, districts, city, departments and sectors to accompany the investment.
The provincial Public Administrative Center is put in operation, helping shorten several administrative procedures. The provincial authorities have mobilized various sources to develop the infrastructure, the industrial parks and clusters to early hand over the clean plane to the investors while focusing on human resource training.
Bac Giang approved for the investment policy of 183 projects, including 107 domestic projects with total registered capital of over 3 trillion VND (129.4 million USD) and 76 foreign direct investment (FDI) ones totally worth 830.7 million USD in 2019. The total domestic investment capital (new and added) went up over 36 percent and FDI made 2.07 fold increase comparing to the figure last year.
With the real acknowledgement and accompany to the investors, the provincial leaders hold regular meetings and talk shows to the businesses to timely handle any arising obstacles.
Thus the local investment and business environment is much improved via the provincial Competitiveness Index (PCI), provincial Governance and Public Administration Performance Index (PAPI) which are positively changed to the good group across the nation.
According to the report from the Department of Planning and Investment (DoPI), Bac Giang approved for the investment policy of 183 projects, including 107 domestic projects with total registered capital of over 3 trillion VND (129.4 million USD) and 76 foreign direct investment (FDI) ones totally worth 830.7 million USD in 2019.
The total domestic investment capital (new and added) went up over 36 percent and FDI made 2.07 fold increase comparing to the figure last year. Thus, the province now has 1,217 domestic projects with total value of 83 trillion VND (3.5 billion USD) and 441 FDI projects with total registered capital of over 5 billion USD.
Recovering the shortcomings, enhancing the quality of investment attraction
Though the province has grasped huge progress in investment attraction, there are still several shortcomings such as most of the big projects pour their capital on the industrial sector, few big production projects have advanced technologies and high added value that create products with good competitiveness to join the global value chain.
In the upcoming time, Bac Giang defines to further accelerate the investment attraction to develop “4 major” economies, namely green industry, clean agriculture, modern urban area in close connection with logistics centers, various kinds of tourism such as culture, spirit, ecology and resort.
The production line of solar panel at Hong Kong invested (China) JA Solar Vietnam Company Limited in Quang Chau Industrial Park (Viet Yen district).
To achieve the target, the province should enhance the quality of investment attraction and effectively use the investment attraction resources. Particularly, the province only approves for the investment to the projects with advanced technologies using less natural, human resources, power and clean water while definitely refusing to exchange the environment to investment attraction.
The priority should be taken to draw the projects in logistics, tourism, urban, education, healthcare, sports, especially to develop high technology agriculture and party contribute to restructuring the agriculture, boosting up the farm produce processing and consumption.
The Director of the DoPI Trinh Huu Thang said there are small land source in the industrial parks, hence the relevant levels and sectors should strictly join hand and highly focus on developing the traffic, technical infrastructure as well as well planning to create the land source to lure the investors. At the same time, the due attention should be paid to reforming the administrative procedure, enhancing the quality of human resources.
It cannot be solely implemented to boost up the investment attraction together with effectively use the sources to draw the investment toward the target of “fortuned businesses, developed province”, thus the investors, businesses must actively coordinate with the government to join hand to recovery the shortcomings and consequences from the investment attraction, especially handling the social welfare issues.