Attracting more investors to Thai Nguyen

Thanks to the attention and direction of the provincial leaders and the great efforts of all sectors, in recent years, the work of improving the local investment environment has achieved significant results, contributing to the implementation of socio-economic development tasks. In the new period, the province will continue to pay much attention in improving the investment and business environment to develop the quantity and quality of enterprises, attracting more promising projects. 

Reviewing outstanding results in provincial socio-economic development in the past five years to see more clearly the contribution and effect of investment attraction and investment environment improvement including the average economic growth rate reached 10.47% per year; the commodity export value increased 10.85% per year; the State budget revenue in the balance grew 16.3% per year; creating jobs for more than 21,000 laborers.

From 2016 up to now, the whole province has over 3,600 newly established enterprises with the total registered capital of VND 27,800 billion; attracted 352 investment projects with the total registered capital of nearly VND 60,000 billion (including 91 FDI projects with the total investment capital of USD 1.27 billion, equivalent to over VND 29,000 billion). According to the evaluation of relevant sectors, the investment environment and competitiveness of the province has continuously changed positively. Enterprises in all economic sectors are encouraged and facilitated to establish, invest and develop. Moreover, the spirit of start-up and innovation was strongly stimulated. Many projects belonging to priority industries of the province and using modern technologies are considering choosing Thai Nguyen as the “landing station".

The satisfaction of business community can be seen through the Provincial Competitiveness Index (PCI) that has constantly improved (being listed in the top 20 for many consecutive years). In 2019 alone, Thai Nguyen's PCI ranked 12th out of 63 provinces and cities. Many component indexes always maintained high ranks or drastically increased, such as: occupational training and jobs, market-entry, legal institutions, security and order, fair competition, unofficial fees, business support services... The measure of businesses' satisfaction is represented by scoring the government through PCI survey and implementing manufacturing and business projects in the province.

Zone B, Diem Thuy Industrial Zone has invested in infrastructure construction, promising to attract many big projects 

 Pilmico Group JSC is constructing an animal feed factory in Diem Thuy Commune (Phu Binh district). This is a relatively large-scale project that covers 8 hectares with the total investment capital of nearly VND 200 billion, applying modern European technologies. Director Nguyen Van Dich shared that: we have started building the factory since mid-2020 and to date, it is going to be put into operation, about two months earlier than our plan. During the process of completing legal procedures and construction, we always receive the attention and facilitation of the authorities at all levels, thereby, all works have been carried out smoothly and quickly. The infrastructure in this industrial zone is also quite good. These are the factors that make investors feel secure to invest in.

During the visit to Samsung Electronics Vietnam Thai Nguyen of the provincial delegation that led by the Secretary of the Party Committee right after Tet holiday, Mr. Choi Joo Ho, General Director of Samsung Vietnam, expressed: Thai Nguyen has a good development environment. The government always accompanies and creates conditions for enterprises, especially in preventing and controlling COVID-19 pandemic that gives us a sense of relief. With the biggest production base being in Thai Nguyen, Samsung Vietnam determines to achieve positive growth rate this year after overcoming many difficulties in 2020 due to the pandemic's impacts.

The remarkable results shown about have demonstrated the improvement of investment environment of Thai Nguyen province. However, there are still many shortcomings and limitations that need to be solved including: the lack of clean ground to allocate to investors, difficulties in ground clearance; the one-stop mechanism was deployed synchronously but does not meet the practical requirements; some infrastructure projects still being implemented slowly; the low-capacity of some enterprises in the province, undeveloped auxiliary industries... These problems have been recognized clearly by relevant sectors. They were also presented by the business community in many forums.

Mr. Nguyen Trong Hieu, Deputy Director of the Department of Planning and Investment, said: Improving the investment environment and PCI is a regular mission of all departments, branches and localities. The Department of Planning and Investment has collaborated with other branches to build a plan of improving the investment environment and enhancing the competitiveness in the period 2021-2025. The targets include continuing to create an attractive business environment; shortening and cutting at least 40% of the time to complete administrative procedures; 100% of administrative procedures will be implemented through online public services at level 4; establishing more than 800 enterprises each year on average. Along with that, infrastructure development, planning and ground clearance will be given more priority to be implemented effectively in the coming time.