According to Nguyen Duc Son, Head of the district Center of Economy and Infrastructure Division, Tan Yen is home to more than 130 investment projects, including 120 domestic projects with total registered capital of over 1.5 trillion VND (67.1 million USD) and 9 foreign direct investment (FDI) projects totally worth over 750 billion VND (32.1 million USD).

The production line at Vert Fashion Company Limited in Viet Lap commune.

Since 2015, the district has yearly attracted 12 – 15 investment projects on average. The operating projects play an important role in boosting up the district economic development, positively changing the production mechanism toward less agriculture as well as more industrial and service ratio and reducing the poverty rate.

The highlight in local investment attraction has been proved by the expansion and completion of Dong Dinh Industrial Cluster in Cao Thuong commune with present scale of nearly 30 ha to be expanded to more than 66 ha.

Apart from drawing the enterprises to pour capital to the industrial clusters, Tan Yen also focuses on facilitating a quick execution for the projects outside the industrial clusters.

There are now 54 projects of this kind in the district with total registered capital of some 500 billion VND (21.4 million USD), helping create jobs to nearly 2,000 labors.

Duong Ngo Manh, Chairman of the district People’s Committee said: “The district People’s Committee built and issued several plans and guidance to encourage the investment such as the execution plan for the Resolution No.73 of the provincial Party Committee about improving the business and investment environment for the period of 2016 – 2020; development plan for socio-economy, industry, service...,which act as the firm basics to effectively attract the investment”.

Additionally, the district People’s Council passed the resolution about the content and support rate to encourage the industrial and service development. 

Particularly, the newly approved investment enterprises, newly operating businesses or those recently completed the factory construction and machinery installation will be supported 50 million VND (over 2,100 USD) while the expanded firm will be offered 30 million VND (over 1,200 USD).

In the upcoming time, the district will further realise the solutions to encourage the investment attraction by facilitating in land issue, accelerating administrative procedure reform, applying the special preferential policies. The district authority always follows the motto of accompany with enterprises and businessmen Duong Ngo Manh, Chairman of the district People’s Committee.

The local authority made up and issued the leaders’key task with a criteria of business attraction. The one stop shop and integrated one stop shop at all levels of district, communes and towns are sufficiently equipped with facilities and operating software.

Meanwhile, all procedures of project verification, construction license, business registration...are done seriously.

Besides, leaders of the districts and competent agencies hold annual meeting and dialogue with businessmen and enterprises to timely discuss the arising issues as well as create the friendly relationship between the governmental authority and investors, businesses.

Vietnam likely to become EU’s investment hub in SEA

 

Vietnam, EU sign free trade, investment protection agreements

The EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) were officially signed in Hanoi on June 30 afternoon, in the witness of Prime Minister Nguyen Xuan Phuc, Vietnamese National Assembly and Government leaders, and leaders of the European Union (EU).

German firms intend to expand investment in Vietnam

Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent), according to a survey conducted by the German Industry and Commerce Vietnam (GIC) in April.

Philippine company eyes investment in Vietnam’s tea industry

JG Summit Holdings, Inc., one of the biggest Filipino investors in Vietnam, hopes to invest in sustainably developing tea business in the country, particularly via the participation in public-private-partnership projects.

Bac Giang: 86 investment projects licensed and adjusted in first 6 months

(BGO) – As of June 17, 2019, Bac Giang province licensed and adjusted 86 investment projects, accounting for 72 percent with total capital of 542 milion USD, up 73.8 percent comparing to the same period last year.

Quoc Phuong