Competitiveness improved to attract investments

To improve competitiveness and offer the best conditions for enterprises to carry out business operations and production, the provincial authority has been improving environment of investments and business operations along with enterprises in thorough targeting program of calling upon departments and sectors to join in.

Binh Duong provincial authority always offers good conditions for enterprises to develop within the favorite business environment to improve competitiveness. In this photo: Industrial production is on-going at an enterprise in the province.

Proactive support

For creative and effective implementation of enterprise support, the provincial authority has constructed and well implemented the dialogue and consultancy with enterprises to build up favorable environment of investments, business activities, investment luring and developmental assistance. Provincial leaders have particularly directed functional agencies to concentrate on reforming and simplifying administrative procedures to service enterprises and gain proactive results.

Thereon, enterprises are facilitated to grow in favorable environment, by which, provincial competitiveness is improved. According to Binh Duong provincial Department of Planning and Investment, in 10 months of 2020, the province attracted VND 59,493 billion of domestic investments and USD 1.66 billion of foreign investments to continue as leading locality in attracting such capital resources.

From the beginning of the year, provincial authority has directed managing units and credit organizations to continually reduce and/or extend taxation with loan interest rate reduction for enterprises to mitigate hardship and creating grace for recovery of production and business operations in the last months of 2020. In the long-term, to offer favorable conditions to enterprises, BInh Duong provincial People’s Committee approved to expand factory rents against industrial production projects outside local industrial parks and clusters in the south of the province until December 31, 2025. Drastic and synchronous support and timely obstacle removal for enterprises and promotion of production to maintain industrial growth have been in place. The industrial production index in 10 months of 2020 is estimated to grow by 6.77% from the last term.

Kim Heun Tae, General Director of NTI VIna in VSIP II said: “Binh Duong provincial authority has been actively supported us for years. Particularly in the time of Covid-19 pandemic, they have assisted and offered tax reduction as well as all advantages to purchase materials for our production and business operations. The provincial functional agencies have been improved in terms of servicing quality, especiallly administrative procedures.”

Persistent administrative reforms

Binh Duong provincial Department of Planning and Investment has regularly coordinated with departments and sectors to offer maximum support for enterprises to fulfill investment-related procedures, resolve obstacles of projects, and effectively launching of policies assisting local enterprises.
As for business registration, the paperwork time has been shorten by eliminating various procedures and simplifying regulations on business conditions, by assisting enterprises to register for business online, by offering postal service for paperwork, and on-site business registration even for foreign investors from other countries. Up to date, online business registration has been over 95% as the departments, agencies and local authorities have been promoting IT application and administration of rate-3 and rate-4 online public services.

Binh Duong provincial Department of Planning and Investment continues to promote consultancy and assistance for enterprises to register for business through the electronic network along with survey for consultancy demands of enterprises. Besides, the department shall compile feedbacks on drawbacks and shortcomings of enterprises before reporting for local authorities’ assistance. Mai Hung Dung, member of Standing Board of Provincial Party Committee cum permanent Deputy Chairman of Provincial People’s Committee informed that Binh Duong provincial authority continues to be persistent to the improvement of investment and business environment for enterprises. On-site investment promotion and assistance of investors and enterprises from registration to project launching shall be enhanced. Electronic government towards digital government is continued to reduce time and cost for enterprises along with public administrative service quality improvement. Binh Duong provincial authority is also determined to maintain its position of high Provincial Competitiveness Index (PCI).

Reported by Ngoc Thanh – Translated by Vi Bao

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