Want to be in the loop?
subscribe to
our notification
Business News
STRENGTHENING MAGNETISM OF INDUSTRIAL ZONES
Ninh Thuan will strive to become a relatively developed province in the region and the country by 2025. To create a driving force for socioeconomic development, the province will focus on drawing investment flows into industrial zones. Accordingly, the Ninh Thuan Management Board of Industrial Zones has made ongoing efforts to build an open business and investment environment.
Gradual perfection of industrial zone development
Mr. Su Dinh Vinh, Director of the Management Board of Industrial Zones, said Ninh Thuan is endowed with many advantages for economic development, especially industrial development, seafood and salt production. In recent years, renewable energy (solar power and wind power), building materials, supporting industry, marine economy, tourism industry and handicraft production have caught the interest of many potential investors which have come to study investment opportunities.
Given those advantages, in its socioeconomic development strategy, the province has constantly focused on improving governmental leadership, building schemes and resolutions to gradually accelerate industrialization, modernization and production development, especially drawing investment funds into industrial zones. The industrial production value in the period 2016-2020 increased by 186.3% over the 2011-2015 period (VND5116.4 billion in 2015 and VND9532.7 billion in 2020), staging an annual growth of 13.3%. Budget revenue was VND3,900 billion in 2020 and VND3,907 billion in 2021. Industrial zones currently attract 29 secondary investment projects (18 projects in Thanh Hai Industrial Park and 11 projects in Phuoc Nam Industrial Park), with a total investment of nearly VND2,400 billion. They employ more than 3,000 local workers, paid VND7.35 million a month on average. Industrial zones generally contribute more than VND400 billion to the local budget each year and boost local socioeconomic development.
“The Management Board always focuses on infrastructure development to gradually complete industrial zone development planning. The board always listens to, shares with and sides with investors and businesses to improve the quality of their human resources, suitable to their corporate culture and their own needs,” he said.
Focus on investment promotion
In fact, current industrial parks in Ninh Thuan have not been synchronously planned and developed, with small scales and low occupancy rates. Before this reality, the board quickly proposed practical solutions to urge tenants on synchronous infrastructure construction such as wastewater treatment stations, green areas, transport infrastructure and service facilities. It has focused on drawing industries with added value, advanced technology and clean industries to increase product value and protect the environment. The board has completed policies to encourage investment and development of industrial parks, including the single-window policy and government-backed tax incentives. The agency has stepped up information technology application in investment promotion by upgrading websites to enhance the image, potential and investment opportunities of the province to investors.
“The immediate goals of the Board are to further focus on reviewing, reporting and advising the Provincial People's Committee on Ca Na Industrial Park infrastructure development plan which will be submitted to the Prime Minister for approval; solve existing shortcomings, monitor and remove infrastructure difficulties for Du Long and Phuoc Nam industrial parks; recommend investment for infrastructure construction and investment promotion for Thanh Hai Industrial Park (invested by the government). Activities in must be based on common action principles of “Unity, adaptation, creativity, discipline, development and efficiency" as well as goals of "Safely and flexibly adapting to, effectively controlling COVID-19 epidemic, ensuring health and life of workers, making good use of opportunities for socioeconomic recovery and development, while supporting businesses and people to live through hardships," said Vinh.
Source: VCCI
Related News
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
DA NANG CUSTOMS FOCUSES ON DEVELOPING CUSTOMS-BUSINESS PARTNERSHIPS
Da Nang Customs Department issued an action plan for developing customs-business partnership in 2024. One of the new events this year is the workshop on “Settlement reports for enterprises engaged in outsourcing, export production and export processing” held in Da Nang Customs Department on April 16, 2024.