Da Nang Changing Promotion Methods, Attracting More Investors

Source: Pano feed


Continuing to improve the investment environment and renovating investment promotion works, the Da Nang Investment Promotion Centre (IPC Da Nang) has helped Da Nang become an ideal destination for domestic and foreign investors. Vietnam Business Forum has an interview with Mr Lam Quang Minh, Director of IPC Da Nang, on outstanding achievements as well as orientations and solutions in investment promotion activities. Luong Han reports.Could you briefly introduce IPC Da Nang’s remarkable activities over the past time? What are major difficulties and advantages in investment promotion?

In 2014, IPC Da Nang coordinated with relevant organs and businesses to carry out investment promotion. The city endeavoured to strengthen and renew investment promotion activities, with focus on target destinations like Japan, South Korea, the US and Europe. Investment promotion activities were organised in specific themes while investors learned locations, land policies and necessary supports for investment survey and decision.

While seeking new investors and projects, the city actively assisted existing investors to carry out their projects smoothly to win their trust and build up their satisfaction with the local investment environment. They may in return introduce new investors to the city.

These good results came from favourable factors, that is, Decision 03/2014/QD-TTg of the Prime Minister dated January 14, 2014 on issue of regulations on State management over investment promotion activities was promulgated in 2014.In Da Nang, investment promotion activities were conducted formally and professionally. Contents and methods of investment promotion were renewed, based on clear definition of key sectors, areas and projects for dynamic socioeconomic development of the city. Da Nang organised many investment promotion events in Vietnam and foreign countries and contacted big potential investors.

Given overall economic slowdown, the government of Da Nang City created most favourable conditions for local businesses to operate and expand production and chose 2014 as the Year of Business. Accordingly, Da Nang City issued a lot of policies on business support and investment attraction like supporting business sites, establishing and funding the Credit Support Fund for SMEs, thus enabling this fund to guarantee credit for businesses. The city also added capital to the Da Nang Investment and Development Fund to support credit loans for production and export operations and market price stabilisation. The city’s leaders also hosted direct dialogues and meetings with local businesses.

However, the city faced a lot of difficulties in investment promotion due to the impacts of economic downturn. Many businesses only focused on their core operations rather than expand investment. Besides, the city also saw subjective reasons as follows:

– Selectively licensing projects: To ensure the tourism environment and sustainable development, the city advocates attracting projects using high-tech, supporting industries, high-valued services, and especially, environment-friendly projects.

– Land fund for investment projects outside industrial zones is scattered while available area inside industrial parks is limited. The city finds it hard to create industrial parks for small and medium projects.

To support and facilitate investors to establish and carry out their projects in the city quickly and efficiently, what solutions has IPC Da Nang taken to promote domestic and foreign investment?

As an effective bridge for investors to understand Da Nang, IPC Da Nang has actively supported foreign investors to access information on infrastructure conditions, market and products, contact partners, meet city leaders, ask for investment locations, prepare investment and business registration documents, and carry out procedures after their projects are licensed.

– Applying single-window mechanism for investment licensing for projects outside industrial parks and clarifying procedures and processes of investment certification. The centre has proposed the Municipal People’s Committee resolve difficulties and problems facing businesses operating in the city.

– The centre has put forth an initiative for establishment of Da Nang FDI Business Club which will unite FDI businesses in the city and join hands with FDI businesses and associations across the country. Through the club, the centre often provides updated information on socioeconomic performances, guidelines, policies and legal documents relating to investment operation and help investors to meet and dialogue with the city’s leaders.

– The centre is asking the Municipal People’s Committee to establish a steering board in charge of investment promotion to speed up contact with new projects and timely support operating projects in the city.

Would you mind telling us IPC Da Nang’s missions, objectives and orientations for 2015 and beyond?

As the lead investment promotion agency of Da Nang City, IPC Da Nang has advised the Municipal People’s Committee to work out investment promotion plans in 2015. Accordingly, the city advocates attracting investment capital for high-tech industries, support industries, and service sectors such as trade, tourism and finance, banking, health, education and logistics. Major investment promotion contents are as follows:

– Timely and effectively supporting existing FDI firms to build up their trust in the local investment environment and policies. These investors may introduce new investors to the city.

– Changing investment promotion methods and directly accessing potential investors with strong financial capabilities and advanced technologies from Japan, South Korea, the United States, France and multinational corporations.

– Focusing on attracting investment capital from small and medium enterprises, especially supporting industries and high-tech industries.

– Strengthening the city’s leadership and coordination of investment promotion in order to achieve higher efficiency.

Đăng ký: VietNam News