Efforts to improve investment environment

>>> Hai Duong jumps 34 places in PCI rankings
>>>Hai Duong determined to improve PCI ranking

Leaders of the Hai Duong Department of Planning and Investment actively propose measures and plans to improve the business and investment environment during meetings with the provincial People's Committee

Over the past time, with a determination to heighten the Provincial Competitiveness Index (PCI) ranking, Hai Duong authorities have drastically improved the business and investment environment to build trust with the business community.

The biggest breakthrough in the provincial authorities’ PCI improvement efforts is the provincial Party Committee’s issuance of Resolution No. 08-NQ/TU on strongly improving the business and investment environment and the provincial competitiveness in the 2021 – 2025 period.

With the motto “Party committees and authorities serve people and accompany enterprises,” the provincial investment environment improved in quality as investment promotion was enhanced.

Meetings between the provincial leaders and large corporations and enterprises over the past time are the clearest evidence of the provincial authorities’ innovations in investment promotion.

Large corporations from South Korea, Japan, India, etc. assessed that Hai Duong had many strengths in attracting high-quality projects and desired to be facilitated for research and investment proposals.

In March 2022, Hai Duong authorities held the first seminar to attract foreign direct investment (FDI) from South Korea, thereby paving a foundation for the province to approach prestigious and quality FDI flows from many countries.

The provincial Investment Promotion and Support Board was set up to remove difficulties in accessing investment of enterprises.

Aside from investment promotion activities, Hai Duong considered planning as the key to attracting and managing investment effectively and sustainably.

The provincial authorities accelerated the review, adjustment, and making of construction plans for sectors and fields and sped up planning and investment in the infrastructure of industrial parks and clusters.

The plans were publicized, facilitating businesses and investors’ research, proposal, and investment.

The provincial authorities formed a working group to promptly remove difficulties and obstacles in luring investment, and businesses were always accompanied by specialized agencies in the process of researching and attracting investment.

Besides, special importance was also attached to apparatus arrangement and completion of employment positions with a resolution to eliminate the harassment of businesses.

Defining administrative reform, especially administrative procedure reform, as one of decisive conditions to win businesses’ affections, the provincial authorities shortened the processing time of several investment-related administrative procedures, saving enterprises’ time and costs.

The provincial authorities also focused on promoting the implementation of public administrative services at levels 3 and 4 to both modernize management and ensure accurate and timely processing of procedures for people and businesses.

With great efforts, determination, and specific and drastic measures, Hai Duong expected PCI improvement to become a “promising land” for investors and enterprises.

As a result, despite great epidemic-caused challenges, Hai Duong made spectacular progress on the PCI rankings. From the 47th place in the middle group with 62.52 points in 2020, the province scored 5.13 more points to rank 13th nationwide and lead the group of 20 provinces and cities ranking fairly high in 2021.

Furthermore, Hai Duong was considered one of 10 localities having good infrastructure for business development.

It was the year the province got the highest PCI ranking in the past 17 years, far exceeding the goal to be one of 20 highly-ranked localities by 2025.

Hai Duong was the fastest-growing locality on the track by jumping 34 places on the PCI rankings after only one year.

From this result, Hai Duong has continued drastic innovation and creation in improving the business and investment environment.

Hai Duong News