Create the most favorable conditions for investors

Dien Bien Provincial Business Association worked with Tuan Giao District People's Committee to remove obstacles for businesses investing in projects in the area.

The Provincial Party Committee and the Provincial People's Committee have promptly and flexibly directed departments, branches and localities to grasp difficulties and promptly remove them for businesses to expand their investment. In addition, the province has issued an action program and developed a specific plan to implement Resolution No. 41-NQ/TW dated October 10, 2023 of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the new era. In the first months of 2024, departments, branches and People's Committees of districts, towns and cities have received 21 petitions from the Business Association in the province. Of which, 10 petitions have been resolved and resolved, and 11 petitions have received responses and are being resolved.

On May 22, 2024, in Pa Sang village, Hua Thanh commune (Dien Bien district), Dien Bien Rubber Joint Stock Company held a groundbreaking ceremony to build the first rubber latex processing factory in Dien Bien. The factory has a total investment of 60 billion VND, a design capacity of 5,000 tons/year (drying kiln 2 tons/hour); ensuring the processing of all latex output exploited from rubber gardens in the province. At the same time, it contributes to increasing the productivity and efficiency of the company's production and business; creating stable jobs for hundreds of local workers.

Mr. Nguyen Cong Tam, General Director of Dien Bien Rubber Joint Stock Company, said: In implementing the project, the Company has always received support and facilitation from provincial leaders and local authorities. Dien Bien province has created the best conditions for the enterprise to complete land procedures, planning, build environmental impact assessment reports and fire prevention and fighting... The enterprise also enjoys policies on taxes and fees and some other policies on attracting investment. It is expected that by the end of 2024, the investment items will be basically completed; in March 2025, the factory will conduct a trial run and officially come into operation in June 2025. In the coming time, the company hopes that the Provincial People's Committee will approve support for electricity, water and road projects to the factory.

Investing in the construction of a rubber latex processing factory helps increase production and business efficiency, creating stable jobs for hundreds of local workers. In the photo: Workers of Dien Bien Rubber Joint Stock Company tap rubber latex.

Similarly, the BHL Dien Bien Cassava Starch Processing Factory Project was granted an investment policy approval decision and investor approval by the Provincial People's Committee on March 15, 2024. The project is built in Tan Ngam village (Nua Ngam commune, Dien Bien district). The factory has a scale of 28.7 hectares, with a total investment of about 283 billion VND, a production capacity of 200 tons of starch/day; 50 tons of cassava pulp/day and night; using modern technology with a closed, automatic chain from European countries.

According to Mr. Nguyen Van Phuc, Director of BHL Dien Bien Agricultural Products Processing Joint Stock Company, during the project investment process, the enterprise is very eager to enjoy preferential policies, such as: Exemption and reduction of corporate income tax; exemption of land rent and land use tax. State management agencies support the implementation of administrative procedures and related issues during the project implementation and production and business activities of the factory. At the same time, the province needs to have a plan and planning for sustainable development of raw cassava growing areas; increase the application of science and technology, and introduce high-yield and high-quality cassava varieties into production to meet demand.

Credit institutions always create conditions for businesses and investors to access capital to carry out business investment activities.

Creating conditions for businesses and investors to access capital sources is one of the important solutions implemented by Dien Bien province to improve the investment and business environment. In recent times, commercial banks and credit institutions have always created favorable conditions for businesses to access capital sources.

As of April 30, the total outstanding credit balance of the province reached VND 20,304 billion. Of which, short-term loan balance was VND 6,566 billion, accounting for 32.34% of total outstanding loans; medium and long-term loan balance was VND 13,738 billion, accounting for 67.66% of total outstanding loans. For example, since the beginning of 2024, Agribank Dien Bien Branch has implemented many solutions to increase access to capital and promote credit growth, such as: Proactively adjusting lending interest rates, implementing credit programs of more than VND 180,000 billion with lending interest rates 1-3% lower than normal interest rates to encourage and support customers who are businesses to use capital. As of April 30, the total mobilized capital of the unit reached nearly VND 6,000 billion, outstanding credit balance reached VND 7,000 billion. Of which, outstanding loans to enterprises are 2,150 billion VND, accounting for 31.5% of total outstanding loans.

The Provincial People's Committee organized a conference to meet businesses and investors to promote investment in potential areas of the province.

From 2021 to present, VietinBank Dien Bien Branch has deployed financial products for enterprises operating in the construction and installation sector, especially guarantee products. Through this, eligible enterprises can advance capital from investors to construct works based on signed construction contracts. In 2023, VietinBank Dien Bien Branch issued 647 guarantee commitments with an issuance turnover of VND 414 billion. In the first 5 months of 2024, the bank issued 274 guarantee commitments with a turnover of VND 142 billion, of which 26 advance guarantees with an amount of VND 90 billion supported enterprises in implementing construction plans.

At the conference to meet businesses and investors at the end of May 2024, discussing with investors about solutions to improve the investment and business environment, Chairman of the Provincial People's Committee Le Thanh Do emphasized: In the coming time, Dien Bien province will focus on directing a number of tasks and breakthrough solutions to create a more attractive investment and business environment. Promote propaganda, create positive changes in awareness of all levels and sectors about the importance and priority of administrative reform, improve the investment and business environment, enhance the competitiveness of the province. Build and develop digital government; simplify administrative procedures, business conditions, investment licensing; resolutely eliminate unreasonable barriers and unofficial costs.

Source: https://baodienbienphu.com.vn/tin-tuc/kinh-te/217228/tao-thuan-loi-nhat-cho-cac-nha-dau-tu