Hung Yen: To attract domestic investment

Published on 13 - 03 - 2020

The Resolution of the Provincial Party Congress (Session XVIII) orientes as follows: Attracting investment is one of three breakthrough stages of the province and a key task throughout the economic development in the period 2016 - 2020. Therefore, together with the attraction of foreign direct investment (FDI), the attraction of domestic investment capital in the province has gained prosperous results. The domestic investment resources have boosted socio-economic development, increased budget revenues and created jobs for local laborers.

The production in Tien Hung Joint Stock Company (Tien Lu)

With the advantages of geographical location in the center of the Northern Delta and flat terrain, it is favorable to build factories and carry out production and business development projects in the province. In order for domestic investors to know and come to explore investment opportunities, the investment advantages in the province have been propagandized in many diverse and effective forms.

Mr. Trinh Van Dien, Director of Department of Planning and Investment, said: “In attracting investment, the province always pays attention to practical projects, which are suitable to practical conditions, attract investment in a selective way and do not chase towards the quantity. Hung Yen attaches special importance to creating a favorable, safe and reliable investment environment for investors”. The province continues to apply a series of "open" mechanisms and preferential policies guaranteed by the law for investors. Preferential mechanisms are elaborated and implemented by the province in a specific manner, suitable to the characteristics and nature of investment projects, the location of investment projects is suitable to outside and inside of the industrial parks.

According to the data of the Department of Planning and Investment, the results of attracting domestic investment projects have been positive. In the first 2 months of 2020, the province has attracted 7 new domestic investment projects with the registered capital of VND 487 billion. By the end of February, 2020, the whole province has had 1,456 valid domestic investment projects with a total registered capital of VND 133,074 billion, of which: there are 1,261 projects outside the industrial park and 195 projects inside the industrial park. Up to now, about 75% of the projects have been put into operation, creating jobs for about 10,000 workers. Enterprises strictly abide by the obligation to contribute to the state budget. In 2019, the state budget revenue of the non-state economic sector reached over VND 3,592 billion. This is an encouraging result, making a positive contribution to the socio-economic development of the province.

Over the past time, the provincial People's Committee has directed departments and branches to implement the measures to support businesses, enhance the coordination to implement development tasks, improve investment environment, build the mechanisms and policies to attract investment, support enterprises, improve the competitiveness of the province. The provincial People's Committee has issued the Plan No. 45 / KH - UBND dated 29/3/2019, the Action Plan to implement the Resolution No. 02 / NQ - CP dated 1/1/ 2019 of the Government on continuing to carry out the main tasks and solutions to improve the business environment, enhance the competitiveness of Hung Yen province in 2019 and the orientation to 2021. Accordingly, departments, branches and localities implement the measures to further improve the quality of investment and business environment and improve the competitiveness of the province, strive to improve the scores and ratings of the province's competitiveness index. In 2019, the public administrative service center is put into operation, to continue to build a modern, professional and dynamic administrative system, best serving people and businesses, creating the motivation to increase investment attraction; create favorable conditions to support startups and businesses to innovate. At the same time, the province publicizes the socio-economic development planning and make the investment environment transparent; simplify investment procedures; promote investment promotion activities. One of the measures to attract investment capital is that the province has built the mechanisms and policies to support investment in industries and fields such as: Supporting industry development, small and medium enterprise development in the country, the investment projects in agricultural and rural areas. In particular, the province is interested in attracting large and medium-scale projects, competitive products, participating in the global production value chains with high value-added.

In order to facilitate domestic investors, the province has completed many planning and invested in developing transport infrastructure, the industrial parks and clusters to ensure the synchronization in transportation, electricity, water supply and drainage, telecommunication services; assisted enterprises in investing in expanding production, registering trademarks and brands to create competitive and high quality products. At the same time, to publicize land use plannings and plans and unused land funds in order to make transparent the access to land resources and production ground, ensure the basis for land assignment, land lease and transfer of land use purpose, support site survey.

Mr. Nguyen Duc Cuong, General Director of Thuan Duc Joint Stock Company (Kim Dong) shared: “In the process of implementing investment projects in Hung Yen province, enterprises are always facilitated by the province, functional departments and local authorities. Up to now, the company has a fairly good growth rate, always fulfils all policies and tax obligations towards the State ”. Thuan Duc Joint Stock Company came into operation in 2007, produces good quality, cheap and environmental-friendly woven packaging. By the end of 2019, the company has a total staff of nearly 1.4 thousand people. The average income of employees is VND 8.9 million / person / month. Thuan Duc Joint Stock Company is a testament to the hundreds of businesses successfully implementing production and business development projects in the province.

The figures on the results of attracting domestic investment capital contribute to affirming that this is the right direction and a breakthrough step for the socio-economic development. At the same time, it demonstrated that in recent times, the Party Committees and authorities have implemented the Resolutions of the Provincial Party Congress positively and gained high results. In order for the Resolution of the Provincial Party Congress to continue coming into life, in the coming time, functional branches should improve the effectiveness of investment promotion, encourage investment promotion activities that are interdisciplinary and inter-regional, according to key projects and partners. To guide and assist investors to accelerate the project implementation or revoke ineffective projects; create favorable conditions for other investors to access and invest. To continue to build a list of the projects calling for investment attraction, in order of the priority associated with the investment support policies for each group, in which focus on seeking, mobilizing, attracting investors in infrastructure construction and business of industrial parks and industrial clusters which have been planned; the large projects with high technology content, contributing greatly to the budget and environmentally friendly. To implement the mechanism of coordination and cooperation among enterprises, universities and vocational training centers and carry out vocational training support policies, promptly meeting the labor needs of enterprises. To speed ​​up the implementation of the Project on administrative reform, create a favorable investment environment and raise the provincial competitiveness index (PCI) in the period of 2016-2020.


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