Dak Nong deals with bottlenecks in investment attraction

Knots in planning and efforts to overcome difficulties

2024 is a year that Dak Nong faces many difficulties. Problems related to the implementation of projects and works on the bauxite planning have lasted since 2023 and have not been thoroughly resolved by the province. Entering 2024, new problems continue to arise, affecting the province's socio-economy.

Production activities at Van Xuan Agri Joint Stock Company, Truc Son commune, Cu Jut district (Dak Nong)

This has somewhat affected the process of attracting investment locally. However, with much effort, Dak Nong still attracts many projects.

Compared to previous years, the investment attraction results in 2024 are not impressive, but create many highlights for Dak Nong to continue to develop in the coming years.

According to Director of the Department of Planning and Investment Tran Dinh Ninh, in 2024, Dak Nong attracted 3 projects in Tam Thang Industrial Park, Cu Jut district, with a total investment capital of over 470 billion VND.

These are the Fresh Fruit Processing and Preservation Factory Project of Tuoi Xanh Agricultural Products Export Company Limited, with an investment capital of 13 billion VND; the Frozen Sliced ​​Sweet Potato Processing Factory Project of SEJIN F&S VINA Company Limited, with an investment capital of 158.66 billion VND; and the Duc Giang Alcohol Production Factory Project of Duc Giang - Dak Nong Chemical Company Limited, with an investment capital of 300 billion VND.

Many difficulties and problems of enterprises during operation are promptly resolved by Dak Nong.

Dak Nong has also received attention and proposals for investment projects from large investors. Currently, many enterprises operating in the field of mineral and bauxite exploitation have come to learn and discuss with the province.

Although the investment policy has not been officially approved, the possibility of success is very high. “Five enterprises have submitted their applications to the province, with a total investment capital of more than 8 million USD. The Department of Planning and Investment is speeding up the approval process for the investment policy. If successful, this is considered a good sign to attract investment to the province,” said Director of the Department of Planning and Investment Tran Dinh Ninh.

Dak Nong granted the investment registration certificate for the alcohol production factory project worth 300 billion VND to Duc Giang - Dak Nong Chemical Company Limited in August 2024 (Photo: LD)

According to Mr. Ninh, although the investment attraction results have not reached the expected numbers, it is the result of the local efforts. There was a time when Dak Nong was in a situation where there was no space for development.

Investment promotion and attraction work is almost impossible because investors who come to survey and learn are stuck with bauxite planning or planning for 3 types of forests.

“Dak Nong continues to petition the Central Government to remove many obstacles that are beyond the province’s authority. Relevant ministries and sectors are working together to remove them for the locality. Hopefully, in the coming time, when the difficulties and obstacles are gradually removed, it will create favorable conditions for investors to start operating,” said Mr. Ninh.

Dedicated to investors understanding and sharing

Dak Nong faces major challenges in the process of attracting investment. Among these, the very large objective cause of bauxite planning has a strong impact.

However, Dak Nong has continuously made efforts to improve many procedures within its scope and authority to facilitate investors to do business.

The dialogue conference between businesses and banks was held to grasp difficulties in accessing credit in the business sector.

Advisory agencies have focused on guiding investors to remove difficulties in the implementation of key investment projects.

Many enterprises are carrying out investment procedures in Dak Nong province and are receiving dedicated guidance and support from relevant agencies such as: TH Group Joint Stock Company, Central Power Corporation, Duc Giang Chemical Group Joint Stock Company, Viet Phuong Investment Group Joint Stock Company, Tran Hong Quan Metallurgy Company Limited, etc.

Specialized departments, districts and cities strengthen handling and regularly report to competent authorities to remove difficulties and obstacles of bauxite projects in the province. Dak Nong conducts review and assessment of overlap and impact of urban projects on bauxite mineral planning.

Dak Glong District People's Committee met with local businesses to grasp difficulties and problems.

According to Director of the Department of Planning and Investment Tran Dinh Ninh, the awareness and responsibility of leaders of Party committees, authorities, cadres and civil servants in attracting investment have been improved. The coordination process between departments and branches in resolving difficulties and problems for businesses has gradually improved.

Since then, Dak Nong's efforts to improve the investment and business environment have been highly appreciated by the business community. This is reflected in the PCI assessment results.

In 2023, Dak Nong made a strong breakthrough when the provincial PCI index rose to 21st place, up 17 places compared to 2022. This is the highest result that Dak Nong has achieved in the past 20 years.

“Despite the existing difficulties, investors have been understanding and sharing a lot with the locality. In 2024, there has not been an assessment of PCI, but it is expected that Dak Nong will achieve positive results,” Mr. Ninh affirmed.

Dak Nong currently has 14 FDI projects of 13 enterprises, with a total registered investment capital of more than 680 million USD . FDI enterprises in the province operate stably, complying with legal regulations.

Source: https://baodaknong.vn/dak-nong-xu-ly-nut-that-trong-bai-toan-thu-hut-dau-tu-238606.html