(HBO) – Being aware of their potential, advantages and even weaknesses, localities in Hoa Binh province are rolling out the red carpet to attract more investors with a determination to create a favourable, safe and reliable environment for businesses.
Lac Thuy joint Stock Company of Duc Giang Corporation
(Lac Thuy) is quickly put into operation, generating jobs for over 1,000
labourers.
At a meeting of the provincial Party Committee’s Standing
Board in January, Ngo Van Tuan, member of the Party Central Committee and
Secretary of the provincial Party Committee, stressed positive developments in
several localities when the provincial Party Committee, local authorities, and
relevant organisations joined hands in speeding up ground clearance to support
enterprises.
According to him, ground clearance is the most important
link to increase the efficiency of investment attraction. Of great note, some localities have taken the initiative in
carrying out measures to improve the efficiency of ground clearance so as to
better the investment environment and attract more resources for socio-economic
development.
Lac Son district is a good example, reflected through the
Canh Tang reservoir project. The project, invested by the Ministry of
Agriculture and Rural Development, has a total investment of 3.1 trillion VND
(134 million USD). To carry out the project, the province was assigned to carry
out compensation and resettlement for 652 households with the total area of
land that needs to be cleared being 1,238ha. The district has mobilized the entire political system to
effectively carry out the ground clearance.
Nguyen Ngoc Diep, Secretary of the district Party Committee,
said that the district is determined to perform well the task in order to
attract investors, to compensate for the locality’s disadvantages, especially
in the geological position and the road transport system.
Lac Thuy district counts 54 investment projects with total
registered capital of around 18.03 trillion VND. It has been able to attract
strategic investors and lure major projects thanks to drastic actions in
improving the investment climate, particularly in site clearance.
Investors said the available of clean land has shortened the
time needed to put projects into operation, which created special
attractiveness for Lac Thuy over the past years. During project implementation, all-level Party Committees
and authorities have helped to remove difficulties facing investors, and worked
as a bridge between investors and people. Slow land clearance cause many projects to delay and be
rescheduled. The main reason for the problem is that businesses and local
residents could not reach consensus on the compensation plan.
Such bottlenecks need the involvement of the entire
political system and relevant units to be handled. "People sometimes ask for high compensations as they think
that enterprises can afford high prices that even amount to 2 billion VND per
ha,” a businessperson said on condition of anonymity.
"However, after being explained by district officials, they
are aware of benefits generated by the projects such as job generation, higher
income, momentum for local socio-economic development, and State budget
contribution,” the businessperson said, adding that locals agreed with the
compensation plan at last.
In an effort to attract investments, the province has rolled
out uniform mechanisms and policies. To assist investors, leaders of the
provincial People’s Committee personally instructed the settlement of problems
emerging during the implementation of major, important projects. The provincial centre for investment, trade and tourism
promotion, and relevant departments and agencies have also helped enterprises
with legal procedures.
During dialogues with investors, local leaders affirmed
their support to investors, from survey to project building, implementation and
operation, which has been realised with high political resolve. /.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.