Favorable conditions for start-up enterprises – the foundation of smart city construction

Update: 14-12-2017 | 10:43:46

Binh Duong province committed that by 2020 favorable conditions would be created for 50,000 enterprises to register for incorporation and operations in the province. Therefore, the preparation of projects and plans for enterprises to register for incorporation has generally carried out, creating favorable environment for enterprises to innovate in particular as the vital factor in the orientation to construct Binh Duong Smart City in the future.

Binh Duong aims for an active economy of creativity and major investors upon construction of a smart city. In this photo: The groundbreaking ceremony is organized for construction of Tetra Pak Factory in Vietnam-Singapore Industrial Park II. Photo: Phuong Le

To facility business operations

According to Binh Duong Navigator 2021 – the Binh Duong Breakthrough Strategy of 2021 with vision to 2030, Binh Duong will focus and act in the fields of human resources, technology, business operations and environment. The application of the model of state-school-enterprise cooperation will directly affect the development of Binh Duong in such a way of attracting technological companies and intellectual investment. It is worth mentioning that Binh Duong has built a government of actions to serving its people and businesses, creating a favorable and transparent business environment.

Nguyen Thanh Truc, the Director of the Department of Planning and Investment, said that in the past years, Binh Duong was always taking administrative reform as a breakthrough solution to improve the investment environment. Accordingly, the province has focused on simplifying procedures and shortening the time needed to settle the paperwork burden for incorporation of enterprises, implementation of investment projects, construction licensing procedures, clearance of goods, ownership right etc. according to the ASEAN-4 average; thus, Binh Duong has become the province in the top five provinces of good administrative reform index.

In addition, the province has paid much attention to investing in improving essential technical infrastructure to attract investment and to mobilize resources from various economic sectors to continue investing in developing synchronous and modern socio-economic infrastructures. Enterprises in the province are always supported by the province in terms of researches and technological innovation for new product development, advanced technology and high technology, improvement of capacity and production efficiency, linkages between enterprises and other organizations to help enterprises participate more deeply in the value chain. At the same time, entrepreneurship and a start-up ecosystem shall be promoted. The province has also approved the plan to implement the project to support the national innovation system until 2025 in the province in 2017-2020.

Truc added that in order to build a contingent of skilled workers to join the global value-added production chain, the province has also paid attention to improving the quality of human resources in various industries and sectors with advanced scientific and technological contents

Orientation to a creativity-based active economy

In the coming time, Binh Duong is aiming at a dynamic economy based on creativity, becoming a highly competitive hi-tech manufacturing sector and attracting investors with start-ups of innovation existed in a network of large enterprises and qualified suppliers, deeply involved in the global value chain. Based on that, the province has issued many plans aiming at immediate economic growth targets as a foundation for developing civilized, green and clean society, such as the plan to innovate and attract investment so as to develop high-quality services for industrial and urban development and investment in key infrastructure development. Besides, it is the smart city building project with main development orientations such as attracting domestic and foreign investment in hi-tech industries of highly added value, less labor-intensive and environment-friendly, the focus is on attracting industrial parks and industrial clusters.

The province has also concentrated on attracting domestic investment resources to support industries and to supply materials to large corporations in their process of joining the global value chain of multinational corporations. Together with that, essential services for economic development such as finance, banking, insurance, import-export and logistics shall be developed.

With a dynamic and creative tradition, the business community is the driving force for Binh Duong to realize the aspiration for a smart, fast and sustainable city. The favorable business environment is a condition for Binh Duong to fully make use of its development potentials and to show the respect of the provincial government to the contributions of the business community during the past time.

Establishing a stable and favorable environment for enterprises to contribute and stay in Binh Duong province in the process of development is commitment and obligation of the provincial authorities to construct and develop a smart, modern, and developed city out of Binh Duong in the future.

Reported by Phuong Le – Translated by Vi Bao

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Favorable conditions for start-up enterprises – the foundation of smart city construction

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