Innovation in investment promotion, Quang Ngai welcomes new wave of investment

Thanks to innovation in investment promotion methods and increased dialogue, support, and problem solving for businesses, Quang Ngai province is welcoming a new wave of investment, aiming to realize the set goals and aspirations.

Quang Ngai focuses on investing in transport infrastructure to create land for modern urban development. In the photo: Ngoc Island (Quang Ngai City) is 300 hectares wide, considered the most beautiful land fund in Quang Ngai province.

Attracting diversified, flexible and adaptive investment

In the context of limited investment capital from the state budget, in recent times, the People's Committee of Quang Ngai province has focused on promoting investment attraction from non-state budget sources and as a result has attracted many domestic and foreign investors to invest in the province, contributing to the successful implementation of the goals of rapid and sustainable socio-economic development.

Chairman of Quang Ngai Provincial People's Committee Nguyen Hoang Giang said that, closely following the direction in Resolution No. 01-NQ/DH dated October 22, 2020 of the 20th Provincial Party Congress; Conclusion No. 371-KL/TU dated May 31, 2021 of the Provincial Party Standing Committee and on the basis of the Quang Ngai Provincial Planning for the period 2021 - 2030, Quang Ngai Provincial People's Committee has issued a Decision approving the list of projects to attract investment in Quang Ngai province, with 34 projects in different fields such as industry, healthcare, services - tourism, environment, urban infrastructure, trade - services, infrastructure of industrial parks and industrial clusters.

Along with that, Quang Ngai province has changed its investment promotion methods, such as changing the investment attraction market to be diverse, flexible, and adaptable; innovating the way of promoting and attracting investment...

The province is focusing on supporting investors to speed up the implementation of key, large-scale industrial projects, such as the Dung Quat Oil Refinery Upgrading and Expansion Project; the Hoa Phat Dung Quat Container Port Project; the Hoa Phat - Dung Quat Iron and Steel Complex Upgrading and Expansion Project; the Hoa Phat Dung Quat 2 Iron and Steel Complex Project; and the combined gas turbine power projects of EVN, Sembcorp, etc.

– Mr. Nguyen Hoang Giang, Chairman of Quang Ngai Provincial People's Committee

In 2023, the province will have 8 foreign direct investment (FDI) projects granted investment registration certificates, with registered capital of 366 million USD; domestic investment has 19 projects approved for investment policy/granted investment registration certificates, with a total registered capital of 17,322 billion VND. In 2024, the province invited FPT Corporation to study and learn about the investment environment in the province. It is expected that from now until the end of 2024, Quang Ngai province will promote support for 20-25 investors to come and study the investment environment in the province, including fields and industries that play an important role in socio-economic development such as healthcare, education, services - tourism, environment, urban infrastructure, trade - services, industrial park infrastructure, industrial clusters ..., with the expectation of bringing a new wave of investment attraction to the province in the period of 2024 - 2025.

“In the context of many difficulties in attracting investment, Quang Ngai has proactively carried out “on-site investment promotion” activities by supporting investors with licensed projects to implement projects and stabilize production and business, thereby expanding investment, creating a spillover effect to attract new investors. In addition, the province proactively connects and works with business associations to support and promote investment attraction for large enterprises; provide information on the province's investment potential and strengths to countries such as Korea, Japan, the US, France, Thailand, India, China, etc. to attract investment. In addition, the province pays special attention to supporting and removing difficulties and obstacles for enterprises and investors, considering this a key and regular task in direction and operation. This is clearly demonstrated through meetings and direct dialogues with businesses to listen to feedback and recommendations, and at the same time, provide and exchange information, creating unity and consensus in leadership, direction and operation," Mr. Giang shared.

According to Mr. Giang, the recommendations of enterprises and investors have been promptly and thoroughly resolved by relevant agencies, units and localities, creating conditions for enterprises to operate smoothly and effectively, contributing to ensuring social security and developing the local economy.

For the contents of the recommendations of enterprises beyond their authority, the province recommends that ministries and branches consider and guide the resolution for enterprises. Accordingly, in the period from 2021 to the third quarter of 2024, the province received nearly 300 recommendations from 150 enterprises, of which about 250 recommendations were resolved, reaching 83.3%. The remaining recommendations are mostly stuck in policy mechanisms and are being recommended by departments and branches to ministries and branches for consideration and resolution; periodically organize dialogue conferences with enterprises and investors twice a year, ensuring compliance with regulations.

“The business community and investors operating in the province acknowledge and appreciate the dynamism, pioneering spirit and supportive efforts of the provincial government, relevant departments and branches, and believe that recommendations and proposals to resolve difficulties and problems in the investment process have been promptly received and resolved by the provincial leaders,” said Mr. Giang.

Motivational solutions

To continue promoting advantages, boosting investment attraction, accompanying and supporting businesses, in the coming time, Chairman of Quang Ngai Provincial People's Committee Nguyen Hoang Giang said that the province will focus on implementing many solutions.

First of all, the province has always been consistent in its viewpoint of selecting large, potential enterprises and investors to call for investment in sectors where the province has competitive advantages such as education, healthcare, eco-tourism, and marine tourism to soon promote tourism development, gradually becoming a key economic sector of the province, associated with sustainable development and environmental protection.

Along with that, the province focuses on upgrading transport infrastructure, creating a chain of links in logistics connection, promoting regional linkages; accelerating key projects, ensuring progress in site clearance and disbursement of public investment capital; actively reforming administrative procedures; promoting the connection between labor supply and demand, improving the quality of training high-quality human resources to continue to welcome investors with large investment capital and high socio-economic efficiency to the province.

Second, the province will promote the implementation of investment attraction policies, focusing on improving administrative procedures, making the investment and business environment transparent, creating the best conditions for investors to learn, research and implement projects in the province; organize economic restructuring, associated with growth model innovation, increase labor productivity, increase competitiveness of key industries and fields, on the basis of digital transformation, application of science and technology and innovation, development of green economy, circular economy, marine economy, digital economy, etc.; pay attention to researching and applying support policies to attract large domestic and foreign corporations and enterprises to invest; continue to take advantage of opportunities, establish relationships with consulting organizations and large corporations to promote and attract investment.

Third, the province focuses on promoting on-site investment promotion activities; continues to enhance the dynamism and pioneering spirit of industry leaders, creativity in solving work; promptly grasps and resolves difficulties and obstacles in the investment and production-business process, ensuring the principle of equality between economic sectors and types of enterprises; supports large projects, key projects, has a spillover effect in the process of implementing investment projects and acts as a bridge to attract new investors.

In addition, the province pays special attention to building a culture of "accompanying businesses", creating a friendly open space, improving the effectiveness of interaction between the government and investors and businesses, with the motto of always accompanying and providing maximum support to businesses and investors during their operations and considering the success of businesses as the success of the province.

According to Chairman of Quang Ngai Provincial People's Committee Nguyen Hoang Giang, the Quang Ngai Provincial Planning for the period 2021 - 2030, with a vision to 2050, approved by the Prime Minister in Decision 1456/QD-TTg dated November 22, 2023 (which updated the entire content of the General Planning for the construction of Dung Quat Economic Zone to 2045, approved by the Prime Minister for overall adjustment in Decision No. 168/QD-TTg dated February 28, 2023) demonstrates "new thinking, new vision", consistent and in sync with the development orientation and vision of the country and locality. Accordingly, Quang Ngai chooses to develop harmoniously based on 3 pillars, including economy - society - environment, placing "enterprises and people as the center and main driving force of development", considering "investment, development of education and training as the foundation contributing significantly to improving and ensuring labor quality for the need of sustainable and long-term development".

According to Mr. Giang, in order to effectively implement the content of the Planning, bring the vision, orientation of the Planning and the development aspirations of Quang Ngai province into reality, in the coming time, the entire political system of Quang Ngai province will proactively study and amend the issued mechanisms and policies, propose to issue new mechanisms and policies for socio-economic development for each period, creating new momentum for the development of the province; use the state budget capital for development investment economically and effectively, invest with focus and emphasis in key sectors and fields, key infrastructure works with breakthroughs and great spillover effects such as main traffic axes in urban areas, traffic axes connecting with dynamic economic regions, infrastructure projects providing electricity, clean water, infrastructure adapting to climate change and social infrastructure at the provincial and district levels.

At the same time, effectively implement socialization policies, diversify forms of investment attraction to mobilize and effectively use capital from economic sectors; continue to innovate, promote digital transformation, take digital government as a driving force to develop digital economy, digital society, create breakthroughs in administrative reform and improve the investment and business environment, improve PCI, PAPI, PAR INDEX, SIPAS indexes; focus investment resources to complete infrastructure, create favorable conditions to improve capacity, quality, and reputation of training institutions, develop human resources, especially high-quality human resources; promote investment attraction in industries, urban areas, trade - services, tourism, environmental protection, green economy, digital economy, circular economy, marine economy, to improve the efficiency of resource use...

Finally, according to Mr. Giang, to improve the effectiveness of investment promotion in each locality, it is necessary to pay attention to both the activities of attracting investors and the internal factors of the locality. Accordingly, we need to create more opportunities for investors, from land access (including creating large land funds, favorable locations), banking and finance, preparing human resources and high-quality human resources, administrative reform and focusing on administrative procedure reform; a very important factor is innovation and improvement of the investment and business environment.

Source: https://baodautu.vn/doi-moi-xuc-tien-dau-tu-quang-ngai-don-lan-song-dau-tu-moi-d226170.html