Binh Thuan to create a transparent investment environment for businesses and investors

The procedure for establishing a business is streamlined, enterprises’s complaints are less, and the time for business registration, certificate, and procedures has been shortened.

Create a favorable investment environment for businesses. 

Enterprises’ Investment environment has become more favorable

It is clear that, in a short time, the province has successfully arranged two investment promotion conferences, and has attracted a number of large-scale projects registered to invest. The investment promotion and improving the investment environment are of particular interest to Binh Thuan, creating favorable conditions to attract non-budget capital sources. By the end of 2020, the province has nearly 4,500 operating enterprises with production and business results and tax declaration, an increase of 20 times compared to 1995, an average increase of 12.82%/year.

To get investors' attraction, the Provincial People's Committee has focused on directing administrative reform, promptly correcting limitations, and creating an open mechanism for investors and businesses, especially the land access mechanism. Besides, the Departments of Planning and Investment, Construction, Natural Resources - Environment, Transport - Transport, and Tax Department, etc., are publicizing the process and progress of investment projects according to its authority. Whenever businesses have questions, emails, they will be accepted and promptly responded to. Following the implementation of Enterprise Law, Tax Law, Land Law, etc. The Provincial People's Committee through organizing investment promotion conferences and business meetings to grasp investment needs. Based on this, a number of policies are issued to remove obstacles for businesses to create favorable conditions for investors.

Besides, the province also focuses on solving enterprises' difficulties in such fields as compensation and clearance, resettlement, construction planning, land allocation, land lease, business registration, etc. All are considered a breakthrough to improve the business investment environment, creating favorable conditions for businesses to learn about mechanisms and policies related to natural resources and environmental activities. All the activities aim to attract investment, and especially to understand the difficulties and obstacles of enterprises on the way of producing, trading, and implementing projects in the locality. Additionally, the Department of Natural Resources and Environment has organized monthly business meetings to listen to the difficulties and problems of enterprises in all related areas.

Continue to improve the investment environment

The first solution is to quickly improve the investment environment to create conditions to attract capital sources for development investment. It also focuses on prioritizing attraction of foreign investors' capital in projects to develop tourism industries and services, associate production investment with the expansion of domestic and export markets, and create breakthroughs in these fields. High-class services and mutual impact to increase investment efficiency make the investment environment in the province more attractive, with increasing regional competition. To achieve that goal, it is required to constinuously carry out administrative reform, and fundamentally change the relationship between the government and businesses in the direction of accompanying businesses.

Solving problems for businesses and fighting against business corruption to minimize issues, and against commercial fraud for a healthy investment environment are indispensable. In addition, it is necessary to proactively organize investment promotion campaigns abroad, create a list for inviting investment via the Internet, support compensation and site clearance costs, and organize clearance for investors. Moreover, the authorities are asked to quickly provide information to investors about the location, status of the land, and information on industry development so as to reduce investment costs.

From the beginning of 2022, in order to improve the business investment environment, support business development, and create favorable conditions to attract investment, the Provincial People's Committee has directed and requested directors of departments, branches, and owners. Chairpersons of People's Committees of districts, towns, and cities must spend at least 1 session a month working directly with investors and businesses encountering difficulties. In the future, it is necessary to improve the investment environment and speed up the resolution and difficulties and issue-solving of enterprises. The Chairman of the Provincial People's Committee requested the departments, agencies, and the People's Committees of districts, towns, and cities according to their assigned functions, tasks, powers, and domains to strengthen dialogue and work directly with enterprises and investors monthly, listen to their difficulties and problems in order to promptly handle and resolve them.

At the same time, the provincial authorities should actively apprehend and listen to comments and exchanges of businesses and investors about the investment environment, mechanisms, and policies in need of being removed. Thereby, we could create favorable conditions for businesses, and investors to lure as many as investments to the province.

As for contents or recommendations beyond the competence, the departments, agencies, branches, and localities shall report, advise, and propose to the Provincial People's Committee to consider and settle according to their competence.