Binh Duong builds a favorable investment environment, facilitates production and business

After listening to opinions and recommendations of businesses, the Prime Minister asked ministries, branches, and localities to continue to improve their roles and responsibilities in solving difficulties for business community and foreign investors.  Continue to make efforts to accelerate administrative procedure reform, digital transformation, and improve the business investment environment. Proactively and promptly make close and effective directions to support production and business activities of enterprises.

Accompanying, understanding

At the meeting with foreign investors on April 23, Prime Minister Pham Minh Chinh said that from the beginning of 2023, the Government, ministries, branches, and localities have made efforts to remedy inadequacies, concentrate all efforts to achieve the highest results in the set goal and task implementation.

“Vietnam appreciates and thanks the cooperation, companionship and sharing of difficulties of the business community in general and FDI enterprises in particular for constantly making efforts, joining hands with Vietnam to overcome challenges, gradually recover and develop the economy. The government shares, understands difficulties, and will continue to have more appropriate and effective solutions based on specific conditions and situations, contributing to supporting and removing difficulties for the business community. At the same time, to effectively implement the "dual goal", ensure macroeconomic stability and major balances of the economy", Prime Minister Pham Minh Chinh emphasized.

Binh Duong proposes policies to remove difficulties in production and business activities of enterprises. In photo:  Manufacture at an FDI enterprise in Binh Duong

The Prime Minister said that the Vietnamese government continues to promote international integration, bring many new opportunities for businesses, open a large development space from new-generation free trade agreements. However, the world is changing very fast and unpredictably, with uncertain risk factors and great impacts on the global scale. Therefore, we wish businesses to continue to trust and stick with Vietnam in the development process.

The more difficult and challenging, the more solidarity, unity, effort, initiative, creativity, "turning danger into opportunity". Foreign enterprises and investors need to uphold the spirit of "harmonious benefits, shared risks", effectively implement their commitments. With capacity, wisdom, and experience to transform difficulties and challenges into opportunities and driving forces for development", the Prime Minister stated.

Prime Minister Pham Minh Chinh directed ministries and branches to continue researching to have appropriate mechanisms and policies, create favorable conditions for investors, and strongly improve the business investment environment. Promote close and effective cooperation between the State, people, and businesses, realize the set strategic goals, especially in this current difficult and challenging time.

Many difficulties need to be solved

Up to now, the province has 4,100 FDI projects with a total registered capital of nearly 40 billion USD. In the common tough situation, the province has developed FDI attraction with a program named "Binh Duong start up - connect - develop new".

In order to help enterprises overcome difficulties and obstacles and restoring production and business, the province has always committed to creating favorable conditions and supporting investors in the spirit of companionship and sharing difficulties. The province proposed key solutions to implement the socio-economic development plan, improve the business environment, and enhance competitiveness in order to resolve the overlap, difference and contradiction of regulations in investment and business activities; at the same time, set out general and specific goals on improving and enhancing Vietnam's position on international rankings of business environment, competitiveness, and innovation.

The Provincial People's Committee directed departments, agencies, branches, and localities to regularly improve the sense of responsibility of civil servants. To accelerate the reform of administrative procedures, simplify and perfect investment-related procedures. Remove difficulties and obstacles of projects, effectively implement mechanisms and policies to support enterprises in the province, shorten the processing time of business registration documents; step up the application of information technology, increase the application of online public services at level 3 and level 4, and step up to improve the investment, production, and business environment.

The Provincial People's Committee proposed the Government, ministries, and branches to assist in removing difficulties and obstacles for businesses, debt rescheduling, extending the time of payment of social insurance, unemployment insurance, and health insurance so that enterprises have sufficient capital to maintain production, create jobs, and retain workers. The Government needs to have a policy to delay tax payment and reduce corporate income tax by 30% in 2023, give access to preferential loans, and reduce interest rates so that businesses can have capital to maintain production and invest in machinery equipment, technology innovation, helping businesses maintain capital flows, ensuring stable operations through difficult times. The Government and ministries need to organize more trade programs, connect international units to help businesses find sources of customers, increase capital to support industry promotion… 

Reported by Minh Duy - Translated by Ngoc Huynh