Constantly Improving Business Investment Environment

Source: Pano feed

Identifying that investment promotion, business support and advocacy to attract investment are strategic tasks, recently the Investment Promotion and Business Support Board of Quang Nam province in collaboration with concerned agencies implemented investment promotion activities in the province with high quality and efficiency, contributing to bring practical benefits to investors.Actively increasing investment promotion capacity


According to Mr Dinh Van Thu, Vice Chairman of the Quang Nam Provincial People’s Committee ( PPC) cum Director of Quang Nam Investment Promotion and Business Support Board, in the first years after re-establishment, Quang Nam faced difficulties in attracting investment for socio-economic development so there were some projects overwhelming others. But in recent years, in order to create transparent and equal investment environment, Quang Nam province has begun evaluating Strengths, Weaknesses, Opportunities and Threats (SWOT) to repositioning strategy, planning of investment promotion in development and sustainability orientation.



Specifically, the province has set investment priorities for the Eastern and Western areas, while setting the priority fields to attract investment into the local such as mechanic, engineering, fabrication and assembly of automobiles; supporting industries; electric, electronics and telecommunications, construction materials, tourism, services, agriculture, forestry and seafood processing, footwear apparel, and high quality agriculture. On the markets to attract investment, Quang Nam is interested in Asian markets such as Korea and Japan.


To assist in the promotion and implementation of investment projects, Quang Nam has focused on strengthening capacity of promotion networks and focal points at the provincial and district levels; and establishing working groups to support accelerate the implementation of investment projects, resolutely check and withdraw ineffective long-lasting projects and projects occupying too much land without the ability to perform, or those whose investors lack financial capacity. Along with that, the province enacted regulations on commitment of progress and signed collateral funds to ensure the implementation of investment projects in the province. Through the implementation of this regulation, the province has the basis and conditions for the screening of qualified, experienced and determined investors to implement the project, creating a sound, transparent and equitable investment environment for investors and businesses to Quang Nam. This is a meaningful and practical activity of Quang Nam to constantly “improve quality” of business and investment environment in the province.


For the success of investors


Creating favourable conditions for investors and businesses with business support activities has been the province’s constant focus in recent years, and many activities are implemented effectively.


Business dialogue is held very often to promptly resolve difficulties and problems of businesses. Recently, the province has a policy to periodically meet with businesses every month. Provincial leaders will directly chair the meeting to settle the difficulties, problems and proposals of businesses in the process of production and business activities in the province at the office of the Investment Promotion and Business Support Board. And to diversify the channels for dialogue, in the upcoming time, the province will open Quang Nam Portal Helpdesk for businesses to provide means to quickly solve problems that businesses face.


In particular, regulations on coordinating to implement the “one stop shop” in settling procedures for investment in the province of Quang Nam have been implemented nearly a year. Accordingly investors to Quang Nam will only have to work with a single agency to deal with the procedure, such as the Board of Management of the Chu Lai Open Economic Zone (for projects in Chu Lai Open Economic Zone), the Management Board of Industrial Zones (for projects in IPs), the Management Board of Development and Management Dien Nam – Dien Ngoc new urban area (for projects in new urban area) and the Investment Promotion and Business Support Board for projects outside the area above. So with this Regulation, the completion time of the investment procedures and process for implementing the procedures of investors are shortened because investors only have to submit and receive the results of settlement procedures at the office of Receiving and Responding Department of the Board of Investment Promotion & Business Support.


Mr Thu said it has been almost a full year since Quang Nam implemented this regulation. During the implementation process, some points needed to be adjusted, but additional effects of implementing regulations are huge. The province has received much positive feedback from businesses and investors. In the coming time, along with the implementation of the regulation on coordinated implementation of the “one stop shop” of the settlement of investment procedures, Quang Nam will continue to deploy synchronized solutions to attract investment and support business to build Quang Nam into a fascinating destination, providing many advantages for investors, for businesses and for the province.


Kim Bang – Minh Tuan




Đăng ký: VietNam News