Carrying out the task of socio-economic development (SED) in the context of many difficulties and challenges, in the first 2 months of 2024, attracting domestic direct investment (DDI) in the province has achieved positive results with 4 newly licensed projects and 5 projects with increased capital, total registered capital reaching 1,530 billion VND. This not only affirms the province's breakthrough policies but also shows the vibrant production spirit and the firm belief of the business community in Vinh Phuc 's investment environment.
Long Thanh Construction Investment Company Limited, Tam Hop Commune (Binh Xuyen) creates regular jobs for more than 30 workers with an income of 6 - 10 million VND/person/month. Photo: The Hung
The province currently has nearly 15,000 registered enterprises, of which over 10,000 are operating, accounting for 70% of the total number of registered enterprises. Enterprises investing in the province are constantly developing strongly, actively investing in modern machinery and technology, expanding markets, and operating production and business effectively.
Thereby, not only making significant contributions to the province's GRDP but also creating jobs, creating new marks in attracting investment. In 3 years (2021 - 2023), the total investment capital attracted from projects in the domestic investment sector (DDI) reached over 45 trillion VND, 2.3 times higher than the target of the 17th Provincial Party Congress.
Established and put into operation since 2002 on an area of nearly 30 hectares in Binh Xuyen Industrial Park (Binh Xuyen), up to now, Viet Duc Steel Joint Stock Company has become one of the leading steel production groups in Vietnam, actively contributing to the cause of industrialization and modernization of the country.
Currently, Viet Duc Steel is creating jobs and stable income for 1,000 workers; with revenue reaching over 14,000 billion VND/year.
A representative of Viet Duc Steel Company said: Along with a favorable investment environment, the attention, support, and timely removal of difficulties from authorities at all levels in handling administrative procedures and granting investment certificates, in recent years, Viet Duc Steel has always been a pioneer in technological innovation, product diversification, promoting consumption markets; strictly controlling the production process with the ISO 9001:2015 quality management system.
Thanks to that, Viet Duc Steel's steel pipes, steel coils, cold-rolled steel sheets, galvanized steel sheets and construction steel products are available nationwide, trusted by contractors, project owners and construction units in a series of large construction projects nationwide. In 2024, Viet Duc Steel will adjust to increase investment capital for a number of production projects.
With the message “All investors coming to Vinh Phuc are citizens of Vinh Phuc, the success of enterprises is the success of the province”, Vinh Phuc always attaches importance to the interests of enterprises, identifies enterprises as long-term reliable partners, and is the object of service. Therefore, the province has made many breakthrough decisions in leading and directing economic development tasks, attracting projects with specific programs and plans.
If at the end of 2021, Vinh Phuc established a Working Group to help remove difficulties and obstacles for businesses, by the end of 2022, the Provincial People's Committee issued Decision No. 2204 approving the Project "Supporting small and medium enterprises in the province for the period 2022 - 2025".
At the end of 2023, Vinh Phuc established the Provincial Investment Promotion and Enterprise Support Center on the basis of reorganizing 4 public service units including the Site Clearance and Land Fund Development Board under the Provincial People's Committee; Investment Promotion Research and Enterprise Support Center under the Department of Planning and Investment; Tourism Promotion Information Center under the Department of Culture, Sports and Tourism; Center for Foreign Affairs and Aid Promotion under the Department of Foreign Affairs.
Accordingly, the centers will perform the functions of promoting investment, tourism, consulting and supporting businesses in the province according to the provisions of law.
In addition, the province always gives investors friendly feelings and creates the best conditions for enterprises to invest and produce and do business effectively, develop sustainably by promoting administrative procedure reform in the direction of reducing procedures and time to handle procedures; innovating investment promotion activities in a professional direction, diversifying forms of investment promotion; operating well the Provincial Public Administration Service Center, one-stop shop, one-stop shop at district and commune levels.
Along with that, the province prioritizes investment resources to build a synchronous and modern inter-regional infrastructure system. Currently, Vinh Phuc has been approved by the Prime Minister to develop 19 Industrial Parks (IPs) with a total area of nearly 5,500 hectares. Of which, 16 IPs have been established with a total land area according to the approved plan of 3,168 hectares and 3 IPs are implementing investment preparation procedures.
In the first two months of 2024, the province attracted 9 DDI projects with a total registered capital of VND 1,530 billion; granted licenses to 17 FDI projects with a total registered capital of nearly USD 124 million. The total number of newly registered enterprises reached 166, an increase of 9.93% in the number of enterprises and an increase of nearly 56% in registered capital over the same period; the number of enterprises returning to the market was 143.
In the Provincial Planning for the period 2021 - 2030, with a vision to 2050, the province has emphasized key and breakthrough tasks such as innovating the economic growth model from breadth to depth, continuing to reform and simplify administrative procedures; improving the investment and business environment, enhancing the province's competitiveness; encouraging, attracting, training and developing high-quality human resources; strengthening management, mobilizing and effectively using all resources to invest in building a synchronous technical infrastructure and social infrastructure system...
This will be the foundation for attracting investment in the province to continue to "take off", welcoming a new wave of investment from DDI and FDI enterprises.
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