Ha Giang Province makes efforts to improve investment environment

11:43 | 22/12/2021 Economy

(VEN) - Being aware of the critical importance of capital sources for local socio-economic development, Ha Giang Province has been making efforts to create an open and attractive business and investment environment.

Accelerating administrative reform

The northern province of Ha Giang has a border of more than 277 kilometers with China. Its majestic mountain terrain rises to an average altitude of 800 to 1,000 meters above sea level. The favorable climate gives the province unique advantages. In addition, local products are favored by domestic and foreign markets.

Given its potential, along with the innovative and creative spirit of provincial leaders, the local investment environment is constantly improving. For example, Ha Giang has cut red tape, reducing over 600 administrative procedures; deployed an electronic one-stop system for all departments, sectors, People's Committees of districts and cities, and connected with the online public service system at level 3 and 4. The Provincial People's Committee has also organized dialogues with businesses to receive their feedback and recommendations and improve the operational quality of the VNACCS/VCIS automatic clearance system phase II according to the roadmap of the General Department of Customs.

In the first 10 months of 2021, the Provincial People's Committee issued Resolution 13-NQ/TU dated August 11 and Plan 236/KH-UBND dated August 27, 2021 on investment attraction in the 2021-2025 period. Their goal is to greatly improve the investment environment, strive to attract total registered investment of about VND25 trillion for the whole period, including 10 to 15 projects worth VND500 billion or more each.

The provincial Department of Investment and Planning also formed a working team to consult, guide and support enterprises on investment procedures; conduct research and surveys for 22 investment projects; advised the Provincial People's Committee to promulgate investment policy in accordance with the direction of administrative reform. In the first 10 months of 2021, it approved 17 new projects, with registered capital of over VND3.358 trillion; adjusted 26 investment projects; and terminated operation of 12 investment projects.

In June, the People's Committee of Ha Giang Province set up an Investment Attraction Board to receive information, proposals, recommendations and reflections of enterprises and investors; advise and help the Provincial People's Committee to monitor, inspect, and supervise agencies and units in handling administrative procedures and investment incentive policies.

Major investors drawn to province

Along with creating a favorable business and investment environment, provincial tourism and international trade have also been developing. Local authorities have negotiated, signed and implemented 85 agreements and cooperation minutes in the fields of economy, culture and society.

Thus, Ha Giang ranked among the top 30 provinces and cities in terms of administrative reform indexes such as the Satisfaction Index of Public Administration Services (SIPAS), the Public Administration Reform Index (PAR INDEX), and the Provincial Competitiveness Index (PCI). The PAR INDEX in 2020 ranked 33 out of 63, up 20 places compared to 2019, while the SIPAS index in 2020 ranked 25/63, up 10 places compared to 2019.

Over the 2011-2021 period, Ha Giang implemented 85 programs, projects and non-project aid using foreign non-governmental capital from organizations (PLAN, Action Aid, Caritas, FFI, Helvetas, Loan Stifftung, Vision care, and Blue Dragon Children's Foundation) with total disbursed capital of VND499.284 billion.

In addition, the number of registrations to establish new business and investors interested in the province's business investment environment has increased annually. The Vingroup Group is expected to create a new image for the mountainous urban areas with commercial centers, hotels and commercial housing projects. The Banyan Tree Group, a leading investor in the Asia-Pacific region in running luxury hotels, resorts and spas, has also invested in Ha Giang. Other large corporations such as TH Group and Hao Hung Group have also been implementing key projects in Ha Giang Province.

Investors say Ha Giang is gradually transforming and has made important strides in administrative reform,

creating an open and favorable investment environment, and assuring investors that their capital is safe.

Xuan Lap