Binh Duong province moves to attract more investments
Improving investment climate via building a transparent administrative regime will be the focus of the southern province of Binh Duong to maintain its attractiveness to investors.
At the Vietnam-Singapore Industrial Park in Binh Duong province (Photo: cafef.com)
Binh Duong (VNA) – Improving investment climate via building atransparent administrative regime will be the focus of the southern province ofBinh Duong to maintain its attractiveness to investors.
Thanks to a line-up of favourable policies drawn by local authorities, BinhDuong becomes the third most attractive destination for foreign investments, securingmore than 31 billion USD in more than 3,400 projects, just following Hanoi andHo Chi Minh City.
Last year, the province rose to the sixth place in theProvincial Competitiveness Index (PCI) from the 14th in 2017. Itsurpassed Ho Chi Minh City to gain the top position in the southeastern region.
Information and technology has been applied to handle administrativeprocedures, facilitating investment registration, shortening time for tax andcustoms procedure settlement. Particularly, the “one-door” mechanism was set upto handle investment procedures as well as promotes both domestic and foreigninvestments.
The local leaders have committed to simplifying and shortening time forenterprises to start their business. Accordingly, local authority processescompanies’ application for business certificates in a maximum of two workingdays, and reduce by half the time for settling an administrative procedure.
According to Chairman of the provincial People’s Committee Tran Thanh Liem, theprovince will further its efforts to improve investment climate and put forthadministrative reform to improve its competitiveness.
The Department of Planning and Investment is responsible for building, updatingand announcing favourable policies while the Department of Industry and Tradeis in charge of supporting enterprises to build infrastructure at localindustrial parks. The Departments of Natural Resources and Environment andConstruction should work together on land use planning measures.
In addition, dialogues with local enterprises will be organised regularly toremove their bottlenecks in a timely manner, Liem said.-VNA
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At the Vietnam-Singapore Industrial Park in Binh Duong province (Photo: cafef.com) 
