Removing bottlenecks in attracting investment

The leaders of Dien Bien province presented investment certificates to businesses investing in the province.

Recognizing that a transparent and open investment and business environment is a core element in building trust among businesses and investors, the Provincial People's Committee has directed all levels and sectors to strengthen efforts to remove obstacles for businesses. Continuing to improve the investment environment and enhance the provincial competitiveness index (PCI) with the motto: The government is accompanies, is open-minded, listens, and genuinely resolves difficulties and obstacles for businesses. As a result, in 2023, Dien Bien's PCI index increased by 31 ranks compared to 2022 and ranked 31st nationwide; in particular, the scores of many indicators meeting the needs of businesses increased significantly.

Currently, the time for issuing business registration certificates has been reduced from the stipulated 3 days to 1.5 working days. Administrative procedures for business registration are now conducted online between the business registration agency and relevant agencies; providing maximum support for businesses to submit applications online to reduce time and costs... Dien Bien continues to implement the Project to support small and medium-sized enterprises; effectively conducting dialogues and promptly resolving obstacles in investment, production, and business activities for businesses and investors.

Typically, to welcome investors to the urban residential, commercial and service area project in residential groups 17 and 18, Him Lam ward, Dien Bien Phu city, the city's People's Committee has been closely coordinating with relevant departments and agencies to complete the necessary documents and procedures, and expedite the land clearance process for the project.

Representatives from Dai Nam Son Company proposed investing in agriculture and agricultural chemicals in Dien Bien.

Accordingly, the project requires the land acquisition and clearance of over 4.8 hectares belonging to 87 households, individuals, and 1 organization. To date, the relevant units have completed the land ownership survey for 100% of the households and 1 organization; the counting, surveying, and issuance of land acquisition notices have also been completed. The Provincial People's Committee has approved the investor for the joint venture of VINA2 Investment and Construction Joint Stock Company and MST Investment Joint Stock Company. The project has a total investment capital of nearly 1,000 billion VND. Of this, the VINA2 - MST joint venture's capital contribution is nearly 200 billion VND, with the remainder mobilized from other legal sources.

Thanks to the synchronized implementation of various solutions, in recent years many strategic investors and large corporations have come to invest and explore investment opportunities in Dien Bien province, such as Sun Group , Vingroup, Danco, TNG Group, Dai Nam Son Group Joint Stock Company, etc. From the beginning of the year until now, the province has approved investment policies for 7 projects, with a total registered investment capital of over 1,408 billion VND, an increase of 59.7% compared to the same period last year.

The province's achievements in attracting investment in recent years bear the significant mark of innovative thinking and a clear vision in its policies and actions. Dien Bien province has set a goal of achieving rapid and sustainable development by 2025. However, the province still faces many difficulties in attracting investment, such as: being far from Hanoi, the economic and political center of the country, and far from key provinces and cities in the North, Dien Bien faces certain disadvantages in attracting domestic private investment and FDI projects.

Currently, the only industrial production facility in the area is the Dien Bien Cement Plant. (In the photo: Workers at the Dien Bien Cement Plant operating the production line.)

Furthermore, as a mountainous province, the transportation system connecting districts and communes faces more difficulties compared to lowland provinces. With a low starting point in education and healthcare, the skill level of the workforce is also not high, thus the province will face many challenges in attracting industries requiring highly skilled labor and advanced technology.

Currently, land-related mechanisms and policies that facilitate investment in some projects are still limited. For example, out of a total of 93 projects currently underway, 16 projects are behind schedule due to land compensation and clearance issues and related procedures.

To attract investment, the province has identified the need to continue focusing on improving the quality of economic management and the local business environment. This includes concentrating on administrative reform; effectively implementing the Provincial Competitiveness Index Improvement Program; and effectively deploying the Dien Bien Province Digital Transformation Project, giai đoạn 2021 - 2025, with a vision to 2030. These must be the most important solutions and considered the backbone in attracting projects and capital from both within and outside the province.

Authorities hand over the land plot on the map of the Muong Thanh Market and Commercial Service Project. (Photo taken January 2024)

In addition, establish a set of criteria for prospective investment partners, build a specific roadmap for attracting and utilizing capital, offer tax incentives and policies, and ensure transparency in areas where the province has advantages such as tourism, agriculture, and energy. Continue to develop synchronous transportation and urban infrastructure, especially accelerating the completion of procedures for the Dien Bien - Tay Trang border gate expressway project (phase 1); and upgrade the A Pa Chai - Long Phu border crossing to a border gate.

Furthermore, it is necessary to promote the systematization and digitization of data on planning, investment environment, legal regulations, policies, and procedures related to investment, environment, and land... to support investors in finding investment opportunities. Proactively engage with and work with investors; innovate and improve the effectiveness of business dialogue; and create the most favorable conditions for investors to explore, survey, and invest in the area. The Dien Bien provincial planning for the period 2021-2030, with a vision to 2050, should be finalized soon to ensure synchronized planning across all levels and sectors.

Source: https://baodienbienphu.com.vn/tin-tuc/kinh-te/217204/go-%E2%80%9Cdiem-nghen%E2%80%9D-trong-thu-hut-dau-tu