Innovating investment promotion activities according to partners and key areas; building images, promoting and introducing the environment, policies, potentials, opportunities and investment connections; quickly resolving difficulties and problems of enterprises in the process of investment, production and business... Thanks to that, Vinh Phuc has attracted high-quality FDI capital from large corporations in the world , contributing greatly to the province's budget revenue. 
Vietnam Garment Manufacturing Company Limited is a garment supplier for major retail corporations in the US, Europe and Asia.
Up to now, Vinh Phuc has attracted over 8 billion USD of FDI capital from 20 countries and territories around the world in the fields of industry, trade, services, agriculture , etc.
Of which, nearly 95% of registered investment capital comes from Asian countries such as Japan, Korea, Singapore, China... and more than 3% comes from European countries and the United States.
In 2023, the province will attract another project in the top 500 largest US enterprises with a total investment of 40 million USD specializing in the production of motorcycles, motorbikes and spare parts and accessories for cars, with an expected capacity of about 30,000 products/year. Products are exported to Asia- Pacific countries.
Nearly 10 years of operation in Ba Thien II Industrial Park (Binh Xuyen), Vietnam Garment Manufacturing Company Limited (Hong Kong) has continuously expanded its production scale, in recent years becoming a garment supplier for large retail corporations in the US, Europe and Asia with world-class fashion brands and labels such as Burberry, Brooks Brothers, Banana Republic, Tommy Hilfiger...
In the first 3 months of 2024, the company supplied over 1 million products to the market. The company's leaders highly appreciated the investment and business environment in Vinh Phuc province, which is the geographical location, favorable natural conditions, quality of technical infrastructure and investor support services of the industrial parks.
The provincial government always accompanies, listens and promptly proposes measures to remove difficulties for investors, especially the understanding and sharing of local authorities and provincial leaders, which has been an attractive point, making businesses feel quite satisfied with the investment environment in Vinh Phuc.
Door lock products of ASSA ABLOY Vietnam Smart Technology Co., Ltd., Ba Thien Industrial Park (Binh Xuyen) are exported to markets in countries such as the US, UK, France, Colombia...
To create a competitive advantage in attracting investment, the province has issued and implemented many preferential policies to attract investment in accordance with the local context; promoted administrative reform to create the most favorable conditions for business investment, minimize start-up costs, encourage technological innovation, and enhance the competitiveness of enterprises in the process of world economic integration.
Review and supplement quality, long-term vision plans; mobilize investment resources to complete infrastructure systems, especially infrastructure in localities, industrial parks and infrastructure in tourist areas; send staff to attend all training courses organized by ministries, branches and the Central Government to improve working skills and equip themselves with adequate knowledge in the process of implementing investment promotion work.
With the motto "Accompanying businesses", the Provincial People's Committee has focused on directing the synchronous implementation of solutions to accompany, share, and remove difficulties for businesses when they come to learn about investment as well as the production and business process; shortening 20% of the time to handle administrative procedures.
Assign departments, branches and localities to be responsible for improving each component index of the provincial competitiveness index; deploy investment in many infrastructure projects, and train highly skilled human resources to serve businesses.
Enhance responsibility for participating in operating and maintaining the system of receiving and responding to feedback and recommendations from organizations and individuals to the provincial government; organize dialogue conferences, exchange and resolve difficulties and obstacles of enterprises in production and business with the participation of enterprises.
With the drastic participation of all levels and sectors in the province in removing difficulties and obstacles for businesses, the results of the indexes such as PCI, provincial public administration and governance efficiency (PAPI), administrative reform (PARINDEX), and provincial green index (PGI) of the province are all in the top 10 provinces with the highest indexes in the country.
To overcome shortcomings and limitations in investment promotion, in early March, the province established the Provincial Investment Promotion and Enterprise Support Center on the basis of reorganizing 4 public service units: the Land Clearance and Land Fund Development Board under the Provincial People's Committee; the Investment Promotion Research and Enterprise Support Center under the Department of Planning and Investment; the Tourism Promotion Information Center under the Department of Culture, Sports and Tourism; and the Center for Foreign Affairs and Aid Promotion under the Department of Foreign Affairs.
The Provincial Center for Investment Promotion and Enterprise Support will perform the functions of promoting investment, tourism, consulting and supporting enterprises in the province according to the provisions of law.
To turn Vinh Phuc into one of the largest industrial centers in the country, in 2024, the province will spend 16 billion VND to implement an investment promotion program.
In particular, the province focuses on researching potentials, markets, trends and investment partners; innovating the organization of the investment promotion apparatus towards a single focal point, attracting competent and professional staff to do investment promotion work; building an information system and database to serve investment promotion activities.
Training, coaching, capacity building in investment promotion, organizing conferences, dialogues to resolve difficulties and obstacles, meetings between provincial leaders and businesses. Thereby building a professional investment environment, creating new investment advantages, improving growth quality.
Article and photos: Mai Lien
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