Creating a breakthrough strategy in attracting foreign investment

TTH.VN - Many experiences related to development strategies and attracting foreign investment were shared at a seminar organized by the Provincial People's Committee on the afternoon of March 20.

Scene of the seminar

The seminar was organized by the Provincial People's Committee in coordination with Copenhagen Business School - Denmark.

Contribute about 12% of GRDP

Information from the seminar showed that in the 2013-2022 period, the province attracted 87 projects, with a total registered capital of 2,750 million USD, accounting for 74% in volume and 63% in capital attracted during the whole period.

Notably, the Laguna Lang Co project (Singapore) has increased its investment capital from 875 million USD to 2 billion USD; Carlberg Vietnam Beer Company Limited 107.7 million USD; Phu Son Domestic Waste Treatment Plant project in Huong Thuy town with registered investment capital of 74.5 million USD, Aeon Mall Hue Commercial Center project (Japan) with registered capital of 169.67 million USD, Kanglongda Factory project (China) with registered investment capital of 206.99 million USD and a number of other large projects that have been and are in the process of construction according to the committed schedule will contribute to promoting the socio-economic development of the province in the coming time.

Chairman of the Provincial People's Committee Nguyen Van Phuong raised the issue at the seminar.

Foreign investment projects have contributed about 12% of GRDP, accounting for over 25% of total local budget revenue per year.

In particular, Carlberg Vietnam Beer Company Limited (Denmark) contributes an average of 2,300-3,000 billion VND to the annual budget, accounting for about 20-25%/year of the total local budget revenue, over 65-70% of the foreign enterprise sector; the FDI sector has created more than 24,500 jobs in the province.

To attract foreign investment, the province has implemented solutions to improve the investment and business environment and enhance the quality and efficiency of foreign investment cooperation. At the same time, efforts have been made to invest in infrastructure to ensure investment needs as well as actively improve the province's investment environment through promotion programs, advertising and improving provincial indicators.

In addition, continue to innovate investment promotion work, focusing on attracting investment with focus and key points, focusing on areas where Thua Thien Hue province has strengths...

Raising the issue of the seminar, Chairman of the Provincial People's Committee Nguyen Van Phuong hoped to receive suggestions and shares from experts on orientations and solutions to attract foreign investment capital. Especially in the period when the province strives to become a centrally-run city based on existing advantages to have a sustainable and similar direction.

Turn potential into strength

At the seminar, Dr. Tran Toan Thang - Head of the Department of Economic Forecasting for Industries and Enterprises informed about the current status of FDI attraction by industry. Accordingly, FDI capital flows are still focused on the processing and manufacturing industry, typically in 2022, the processing and manufacturing industry accounted for 60.6% of the total FDI capital in Vietnam.

According to Dr. Tran Toan Thang, to successfully attract FDI, local authorities need to focus on cutting administrative procedures, creating the most favorable conditions for investors; helping businesses reduce contact with state agencies; assigning specific tasks to improve the PCI index; establishing a working group to support businesses to promptly resolve difficulties and problems in the process of project implementation.

Prof. Ari Kokko – Copenhagen Business School gives his views on attracting FDI

The reality of localities that have done well in attracting FDI shows that local authorities have invested well in infrastructure. In particular, building infrastructure to meet the living environment needs of investors; Developing synchronous and connected traffic infrastructure. At the same time, focusing on developing labor resources, including training linkages between schools and businesses as well as labor attraction policies.

Prof. Ari Kokko – Copenhagen Business School believes that enhancing education will help graduates with higher requirements; flexible resources, thanks to the ability to learn, thereby bringing long-term benefits. In addition, education will help support restructuring and harmonious development.

According to Professor Ari Kokko, investors do not only focus on cheap labor to decide to invest. On the other hand, investors are interested in human resources, highly skilled workers, who can meet the current trend of work. A healthy investment environment and improved education also create positive impacts. Thereby, not only foreign investors benefit but also domestic investors develop more. Creating a foundation to attract FDI in the future.

With its existing strengths, Professor Ari Kokko believes that Hue has great potential in training human resources in the fields of health and tourism. There should be a center for handicrafts, tourism and cuisine.

“In the work of calling for investment, we do not necessarily have to focus on the tourism industry but on all fields. In addition, improving human resources is extremely important, in which orienting labor trends to suit the future is very necessary,” Mr. Nguyen Van Phuong emphasized.

LE THO

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