With competitiveness and new thinking, Quang Nam province, in a short period of time, has emerged as a bright spot of Central Vietnam in attracting investment, especially FDI. Mr Tran Van Tri, Director of Quang Nam Planning and Investment Department disclosed: “Without complacency on what have been achieved, Quang Nam is preparing for new FDI inflows in Vietnam”. Kim Bang –Minh Tuan report.Will you please tell us the impressive achievements of Quang Nam in attracting investment?
When the province was re-established, Quang Nam had only 100 enterprises, with registered capital less than VND50 billion, engaging mostly in trade and service. For FDI investments, there were less than 10 enterprises with registered capital of less than US$20 million.
After 17 years of development, the province has now nearly 4,300 enterprises with nearly 20 percent in big enterprises accounting for 65 percent of registered capital. There are several big projects with competitive products in domestic market as well as in South East Asia and the world such as: Truong Hai – Chu Lai auto, Chu Lai float glass, Thanh My cement, Ricker shoes, the Nam Hai Resort, Indochina golf course, hotels Palm Garden, Victoria Hoi An, Sunrise, Hoi An Brach Resort, and major hydro power projects. Since early 2006, with new Investment Law, there are 309 domestic investment projects with investment capital of VND1,055 billion (75 percent implemented) and 175 projects under Investment Encouragement Law.
Regarding infrastructure for investments, Quang Nam has 53 industrial clusters, 8 industrial zones and Chu Lai Open Economic Zone. In recent years, due to economic recession, investments in the province declined. Nevertheless, FDI projects in Quang Nam have continued to operate efficiently, such as Rieker shoes, Groz Beckert precision mechanics, and foreign companies’ cooperation with Truong Hai – Chu Lai auto assembly. Presently, the province has 104 FDI projects with registered capital of over US$5,219 million (US$800 implemented) creating over 20,000 jobs for the local people. In the first 9 months of 2014, the province attracted 9 FDI projects with registered capital of US$71.1 million, notably Japanese projects in Dien Nam – Dien Ngoc industrial zone.
Is it true that this success is due to the new thinking and efficiency in attracting investments?
In fact, it is not a big success. It is partly due to both positive and negative aspects in developing businesses and attracting investments. Besides administrative reform, assistance to businesses implementing projects and market development, Quang Nam Party Commission has issued Resolution on developing and improving investment environment and the People’s Committee has endorsed action plan accordingly. In addition, the People’s Council for its part has adopted several Resolutions supporting businesses in such areas as garments, rattan-bamboo products and craft villages. Furthermore, the province has also coordinated with the actual needs of the investors.
How can the province select the right investors to ensure successful cooperation?
To attract and select investors are both delicate and principled issues. The position of the provincial leadership is to facilitate domestic and foreign investors to find business opportunities in Quang Nam. However, we are equally determined to cancel projects of investors without financial capacity delaying the implementation. As a matter of fact, in 2014, the province cancelled 8 tourist projects along Dien Ban – Hoi An coastline and 33 investment projects in various districts, increasing the number of projects cancelled since 2006 to 67 with registered capital of US$4.57 billion.
I think when the new Land Law is enforced, it will be the best way to screen out incapable investors. The Investment Law (amended) will have the same effect with specific regulations for concerned authorities to apply the screening.
As Quang Nam plans to develop itself into an industrialised provinceoffering opportunities for both domestic and foreign investors to benefit from existing economic potential, do you have any messages to investors?
First, on the concept of “industrialised province”, Quang Nam together with UN-HABITAT and GGGI (South Korea) organised successfully Green Growth Forum in 2013 and set out the Green Growth orientation. Quang Nam gives high priority to developing three industrial sectors: manufacturing-processing, electronic-telecom, and new and renewable energy. Accordingly, the province is ready to welcome domestic and foreign investors with projects of Green Growth orientation. The province also facilitates investors contributing to sustainable development so as to attain the slogan: Sustainable development of businesses is the foundation of Quang Nam development.
Đăng ký: VietNam News