Strategic vision needed to attract more investment

Sy Duc
Chia sẻ
(VOVWORLD) - Provinces and cities in Vietnam have implemented several measures to attract investment in the local socio-economic development strategies. With creative approaches and professional, strategic visions, many localities have successfully lured investment to serve their socio-economic activities.
Strategic vision needed to attract more investment - ảnh 1Half of the total investment capital of Nghi Son BOT Thermal Power Plant 2 in Thanh Hoa province comes from South Korean investors. (Photo: VOV)

Quang Ninh has been known as a successful province in administrative reform and regularly stayed atop in Provincial Competitiveness Index (PCI), Satisfaction Index of Public Administration Services (SIPAS), Public Administration Performance Index (PAPI), and Information and Communications Technology (ICT) development and application.

The achievements have been attributed to the province’s special attention to planning. In September 2014, Quang Ninh announced 7 important strategic plans to realize its development goals.

Bui Van Khang, Vice Chairman of the provincial People's Committee, said that the local administration has recognized the importance of designing strategic plans to serve the leadership and direction and has considered them a basis to implement investment projects professionally in order to attract investors.

“In 2011, Quang Ninh hired foreign consultants to develop 7 strategic planning schemes - the key to the locality’s success as it is today.” Khang told VOV.

“To date, Quang Ninh keeps using and fully promoting these seven plans and is developing a provincial plan for the next phase. We’ve completed planning schemes for infrastructure construction, land use, and sectors. If the 3 types of planning cannot be solved, both domestic and foreign investment projects will face difficulties,” Khang said.

The central region currently has more than 2,150 valid FDI projects with total registered investment capital of almost 61 billion USD.

Thanh Hoa is leading the central region with 164 projects worth up to nearly 15 billion USD, accounting for 24% of the region’s total.

It has targeted to be among Vietnam’s leading localities in investment attraction, become a growth pillar in the north, and enter the Hanoi-Hai Phong- Quang Ninh plus development quadrangle.

For many years, Thanh Hoa has focused on upgrading infrastructure and building a working administration to best serve the people and businesses.

Nguyen Van Thi, Permanent Vice Chairman of the provincial People's Committee, told VOV, “Thanh Hoa has ensured security, social order and safety for all investors doing business in the locality. We’ve ensured best conditions for investors before, during and after the investment periods with the motto: ‘The success of businesses will contribute to the success of the province’. We’ve also pursued a goal of harmonizing benefits and sharing risks with businesses.”

Localities nationwide are making the most of their potential for economic recovery and sustainable development while not sacrificing the environment.

Although central provinces are attaching much importance to green, sustainable growth, Le Ngoc Hoa, Vice Chairman of the Nghe An provincial People's Committee, admitted that it’s not easy for them to accomplish the dual task.

Hoa said for Nghe An, with its many specific conditions, a specific strategy is needed. Since 2018, Nghe An has changed its investment attraction policy, said Hoa.

“Last year Nghe An province adopted a resolution on investment attraction mechanisms and policies. We know that next year the North-South Expressway with sections running through Thanh Hoa and Nghe An will be open to the public. This will be a great boost for socio-economic development so we’ve prepared infrastructure in industrial parks to best serve investors,” according to Hoa.