Positive outlooks for investment attraction in Ninh Binh

Since the beginning of 2023, the province's investment attraction has seen important outcomes in both the numbers of projects and the amount of investment capital, thus helping to fulfill the goal set for the whole year.

Since the beginning of the 2020-2025 tenure, administrations at all levels and sectors have focused on renewing investment attraction work, increasing the collection of information; and studying, evaluating and analysing the markets and potential investors in order to build up suitable plans for investment attraction.

The provincial People's Committee has steered administrations at all levels and sectors to remove difficulties for firms, continue to improving the investment climate and PCI with the motto of "Administrations accompany, listen to and remove difficulties and hindrances for businesses".

The provincial People's Committee has also directed competent agencies to set up delegations to evaluate production and business activities of enterprises, thereby putting forth solutions to remove difficulties for enterprises and foster economic recovery and growth.

Provincial leaders have organised monthly dialogues with businesses to listen to their ideas and petitions, and direct the settlement of their difficulties and obstacles.

The province's PCI in 2022 was improved remarkably. It was ranked 44th out of 63 provinces and centrally-run cities nationwide, jumping up 14 places from 2021.

In the first ten months of 2023, the province granted investment licences to 33 projects, up 16 projects from the same period last year, with total registered capital of 4.89 trillion VND (200.7 million USD), a 3.1-fold rise as compared to the same period last year.

In the January - October period, the province saw 1,039 newly established firms with total registered capital of 10.33 trillion VND, a 1.9-fold increase from the same period last year.

The province sets a target of 10% growth in the total amount of new registered capital in 2023.

To achieve this target, the province has continued to stepping up investment attraction, accelerating completion of files and administrative procedures to attract strategic investors in the fields of industrial zone and cluster development and expansion, hi-end tourism services, and urban development.

Provincial authorities have inspected and handled sluggish projects and projects using land ineffectivel, paid due attention to solving environmental pollution.

At the same time, it has continued to implementing the DDCI to create momentum for improving administrative procedures and creating favourable conditions for business and production activities.

Ninh Binh has assisted firms to get access to information, land, market, technology, credit, and favourable policies for drawing investors.

The province has also maintained cooperation with traditional partners and markets such as the Republic of Korea (RoK), Japan, Taiwan and Thailand and expanded investment promotion with partners who use hi-tech, source technology, supply chain and are members of CPTPP, EVFTA, RCEP agreements such as the US, Canada, EU, Singapore, Australia, and New Zealand.

Translated by Nguyen Thuy