Positive results in attracting domestic investment projects

Published on 25 - 03 - 2021

Over the past time, many domestic enterprises have chosen Hung Yen as the destination to carry out investment projects to expand, develop production and business. In the first two months of the year, the whole province has attracted five domestic investment projects with a total registered capital of 591.6 billion VND, seeing an increase of 104.6 billion VND over the same period in 2020.

The manufacturing at Tien Hung Joint Stock Company (Tien Lu)

In order to attract investors in general and domestic investors in particular, the propaganda about investment advantages in the province has been promoted with various forms. The Provincial People's Committee has set up an electronic database system on investment environment on the portal of the Provincial People's Committee and websites of a number of departments, agencies and sectors with such main contents as: Investment incentive policies, the projects calling for investment capital, the contents of master planning, regional planning, planning of branches and domains; sectors restricted and banned from investment ... Thereby, it helps investors to easily learn about the province as well as capturing advantages in the investment process in Hung Yen. The preferential mechanisms are developed and performed by the province in accordance with the law, which are quite specific and suitable to the characteristics and nature of the investment project, the location where the investment project is carried out.

Currently, investors in the province are entitled to the highest incentives according to the Government's regulations such as: The land lease period for the project is up to 50 years, when the land lease term expires, the investor who has the need to continue to rent land and well observed the land law and legal provisions during the project implementation will be considered for extension for businesses. Land rental is exempted during capital construction, but not exceeding 3 years from the date of issuance of the land lease decision. When a construction project is completed and put into operation, it will be exempt from land rent, depending on the nature of the project under the list of investment incentives according to the Government's regulations, and considered for exemption for up to 3 years; the investment in the agricultural and rural sector is exempted for up to 11 years ...

One of the measures to improve the quality of investment attraction is that the province has a mechanism to encourage investment in industries and fields such as the projects with high technology, modern technology, and environmental protection; production of high-tech products, biotechnology, information technology, mechanical engineering; the project has a large scale, rapid implementation progress and contributes a lot to the budget; supporting industrial projects in the electronics and informatics fields; infrastructure construction and investment projects of industrial zones and clusters; supporting industrial projects capable of spurring other industries to develop (logistics). To facilitate domestic investors, the province has completed many planning, invested in developing transport infrastructure, industrial zones and clusters to ensure synchronous traffic, electricity, water supply and drainage, telecommunications services; supported enterprises to invest in production expansion, trademark registration to create competitiveness and high-quality products. At the same time, to make the land use planning, plans and unused land funds public to make eassy access to land resources and production sites, ensure the basis for land allocation, land lease, and change of land use purposes, support site survey. In addition, step by step standardizing the contingent of cadres and civil servants in terms of attitudes, qualifications, awareness and skills to meet job needs in guiding and handling dossiers for organizations and individuals... Mr. Lam Hai Chau, Chairman of the Board of Directors, General Director of Bigrfeed Hung Yen Joint Stock Company shared: The company has a animal feed factory in Yen My district. In the process of implementing investment projects in the area, enterprises are always facilitated by the province, functional sectors, and local authorities. Up to now, the company has grown well, always fully performed tax policies and obligations towards the State.

With the synchronous application of solutions in accordance with the actual situation, the attraction of domestic investment projects have gained positive results. According to the synthesis of the Department of Planning and Investment, in the first two months of the year, along with attracting 5 new projects, 4 domestic projects have been approved to increase investment capital with an additional capital of VND 280.7 billion. By the end of February 2021, there are 1,517 valid domestic projects with total registered investment capital of 187,234 billion VND. Up to now, about 75% of the projects have come into operation, creating jobs for about 11,000 workers, many of which have made great contributions to the state budget.

The efficiency of investment attraction in general and domestic projects in particular for the socio-economic development is clearly shown in the expansion of production, business, and state budget remittance, creating jobs for workers, increasing income for people ... Thereby contributing to economic restructuring, speeding up the process of industrialization and modernization in the province.

In order to continue to improve investment efficiency of domestic projects, functional sectors in the province continue to promote administrative reform, create a favorable investment environment and improve the provincial competitiveness index. To focus on reviewing, reforming and implementing synchronously, effectively mechanisms, policies, practical solutions to clearly improve the business investment environment and increase the competitiveness index of the province; actively remove difficulties for businesses to develop production and business; take specific measures to strengthen investment promotion. At the same time, review and inspect projects that are slow to implement, violate regulations, and resolutely recover land to effectively receive investment projects. To continue to build a list of the projects calling for investment attraction, with priority arrangement associated with investment support policies for each group, in which focus on searching, mobilizing, and attracting investors in the infrastructure construction and business of planned industrial parks and industrial clusters; big projects with high technology content, contributing a lot to the budget and environmentally friendly. To perform the mechanism of coordination and linkage among enterprises with universities and vocational training centers and carry out policies to support vocational training, timely meeting the labor needs of enterprises.

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