The Long An socioeconomic development master plan, set for the period until 2020, with a vision to 2030, states that Long An province will strive to become a basically industrialised province by 2020, and focus on the development of sustainable industries capable of affecting agriculture and services and becoming a socioeconomic growth engine. To realise its objectives, investment capital flows play a vital role. Situated in a vibrant economic development zone with many provinces of interest to investors like Ho Chi Minh City, Binh Duong and Dong Nai, to create its own distinctive and attractive investment environment, Long An province has built investment attraction methods “Building confidence by taking care of existing investors instead of just running advertisement.”
More and more foreign investors are interested in investing in Long An province. In 2013, the locality handed investment certificates to 53 FDI projects with a total registered capital of US$183 million. As of May 20, 2014, Long An granted investment certificates to 525 FDI projects with a combined registered capital of US$3.454 billion. To date, investors from 32 countries and territories around the world are doing business in Long An, mainly from Taiwan, South Korea, Japan, China, Singapore, the United Kingdom, France, the United States, and Thailand.
Unlike other Mekong Delta provinces, Long An province is now focusing on the quality and content of investment projects, rather than the number of projects attracted. Licensed projects must match the overall development plan of the province and the guideline of the Provincial People’s Committee. This will in turn help investors compare their investment orientations and focus their effort and determination on their projects.
Long An province’s current approach to investors has also changed from the previous time. Previously, the province focused on introducing and promoting investment advantages, potentials and opportunities, but now, in addition to these tasks, it gives more care and support for investors and their projects to deal with emerging issues when they do business here. According to the province’s standpoint, if this approach is successful, investors will be much more satisfied than the previous time. To let existing investors talk about strengths and investment environment of Long An province to other investors is the most effective way of advertising. And, Long An province calls this method “Building the confidence by taking care of existing investors instead of just running advertisement.”
Besides, with the spirit of “Accompanying investors and see their difficulties as those of the province“, Long An always focuses on improving the investment environment, with much attention given to administrative procedure reform and simplification towards openness and transparency. The province has applied the single-window mechanism to administrative procedures, particularly relating to investing. Infrastructure is also intensely invested to support industrial, agricultural and rural development.
To boost the efficiency of investment attraction, Long An province will strive to increase utility and logistics support services, information technology services, professional services and financial services to meet investors’ demand. The province will also attract investors interested in potential sectors such as supporting industries; electronics production; agricultural, forestry and aquatic product processing; building material production; engineering; port operation; transport services; apparel and footwear; and food processing. Long An will also focus on selecting investors to limit small investors, give priority to investors to locate their projects in industrial zones, and inspect projects currently under way to eliminate incapable investors.
Long An at all times actively cooperates with investors to deal with difficulties and obstacles emerging from investing process, and creates favourable conditions for investors to operate most efficiently. All aim to make Long An an attractive and reliable destination for investors.
Kim Bang – Minh Tuan
Đăng ký: VietNam News