Hung Yen: Attracting domestic investment projects

Published on 03 - 08 - 2022

Recently, many domestic enterprises have chosen Hung Yen province as the destination to implement investment projects to expand and develop production and business. Since the beginning of the year, the province has attracted 35 domestic investment projects with a total registered capital of 15,544 billion VND. Along with that, the province has received 34 domestic projects adjusting to increase capital, with the total increased capital of 2,640 billion VND. Up to now, the province has 1,455 projects in operation. The projects have contributed to promoting rapid economic restructuring, labor and employment and increasing local budget revenue.

Production at Hung Yen Construction Mechanical Steel Structure Co., Ltd (My Hao town)

Identifying investment attraction as one of the important goals, tasks and solutions contributing to the impetus for the socio-economic development, the province has promptly led, directed and promulgated a lot of mechanisms, investment attraction policy and orientation for each period. The Resolution of the 19th Provincial Party Congress, term 2020-2025 defines “Focus on attracting investment in accordance with the planning; prioritizing large-scale projects, high-tech industries, supporting industries, digital technology industries, making positive contributions to the growth and the State budget" and "Focus on removing difficulties, mobilizing resources for investment in socio-economic, trade-service and urban infrastructure, development of digital infrastructure, prioritizing transport infrastructure and key areas to create development motivation" as two in three breakthrough stages to contribute to building Hung Yen into a modern industrial province. On September 7, 2021, the Provincial People's Committee issued the Decision No. 2136/QD-UBND on the Scheme on promoting investment attraction and improving provincial competitiveness index (PCI) in the period of 2021-2025, with an orientation to 2030; on September 23, 2021, the Chairman of the Provincial People's Committee issued the Directive No. 12/CT-CTUBND on effectively implementing solutions, improving the sense of responsibility, spirit, attitude and quality of public service performance of officials, civil servants to improve the PCI of Hung Yen province...

To attract investors in general and domestic investors in particular, the propaganda on investment advantages in the province has been promoted in various forms. The Provincial People's Committee establishes an electronic database system on the investment environment on the Portal of the Provincial People's Committee and the websites of a number of departments, agencies and sectors with the main content such as: Investment incentive policies, projects calling for investment capital, the contents of master planning, regional planning, sectoral planning; priority investment fields… Thereby, helping investors easily grasp the advantages in the investment process in the province. Incentive mechanisms are developed and carried out by the province in accordance with the law, specifically, in accordance with the characteristics and nature of the investment projects.

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 projects with high technology, modern techniques, and environmental protection; manufacturing high-tech products; the project contributing a lot to the budget; supporting industry projects in the field of electronics, informatics...

In order to facilitate investors, the province publicizes its master plans and plans on land use and unused land fund in order to make it transparent to access land resources and production grounds, and ensure the basis for the allocation of land, land lease, changing land use purpose, supporting site survey. Besides, every year, provincial leaders have direct dialogue with enterprises to grasp and promptly solve their difficulties and problems in the process of investment and production; publicize preferential mechanisms, policies, priority investment projects on the portals of the province, departments and branches...

The work of compensation and site clearance is strongly directed by the province, especially for key projects, to create favorable conditions in the implementation of investment projects. In the process of investment attraction and development, the leadership and direction of the province, districts, town and city, the Management Board of Industrial Parks of the province has proactively and actively carried out the compensation and site clearance. In which, the focus is on developing detailed plans, signing commitments on land clearance progress with investors; at the same time, focusing on solving difficulties and obstacles, especially in determining the origin of land, settling land disputes, supporting people after land recovery to promptly hand over land to investors to carry out projects on schedule.

With the synchronous implementation of solutions suitable to the actual situation, the results of attracting domestic investment projects have achieved positive results. According to the Department of Planning and Investment, as of June 30, 2022, there are 1,596 valid domestic projects in the province, with a total registered capital of VND 255,433 billion. Up to now, about 70% of projects have been put into operation, many projects with large investment capital, creating jobs for many workers and making great contributions to the provincial budget have been put into operation or under progress.

In order to continue to improve the efficiency of investment attraction, in the coming time, the province will direct the departments, branches and localities to continue promoting the performance of administrative reform, creating a favorable investment environment, improving the provincial competitiveness index. To focus on reviewing, renewing and conducting synchronously and effectively mechanisms, policies and practical solutions to improve the business investment environment and raise the province's competitiveness index; actively remove difficulties for enterprises to develop production and business. To continue to build a list of projects calling for investment attraction, give priority to attracting investors to build and trade infrastructure in industrial zones and clusters that have been planned; the large projects with high technology content, contributing a lot to the budget and environmentally friendly.

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