Advocating for Businesses and Investors

Investment attraction is always actively and regularly carried out by Bac Lieu province. Resolved to improve the business investment environment and accompany businesses, Bac Lieu is considered to have a lot of potential investment opportunities.

Enterprises are honored with a Certificate of Merit by the Chairman of Bac Lieu Provincial People's Committee for outstanding socio-economic contributions to the province

Bac Lieu province has actively implemented governmental resolutions on key tasks and solutions to improve the business investment environment. The province coordinated with the Vietnam Chamber of Commerce and Industry - Mekong Delta Branch to organize a training course on "Solutions to enhance Bac Lieu competitiveness through PCI and DDCI indices”. At the same time, the province has stepped up administrative procedure reform to reduce service time, streamline and publicize administrative procedures.

Bac Lieu participated in Vietnamese local promotion programs in Australia, South Korea and Japan, launched by the Ministry of Foreign Affairs in coordination with Vietnamese Embassies and consulates general in Australia, South Korea and Japan, to promote, inform and introduce the province's images, environment, policies, potential and investment opportunities to investors from other countries.

In the first nine months of 2023, Bac Lieu issued three new Investment licenses and two preliminary investment decisions, with a total registered capital of VND192 billion and revoked one investment license. To date, the province has attracted 171 investment projects outside industrial parks (155 domestic projects with VND60,723.708 billion and 16 foreign projects with US$4.51 billion).

Twice a year, Bac Lieu hosts government-business meetings to understand the thoughts and aspirations of businesses and investors, promptly remove difficulties and obstacles, make them feel secure in production and business, and carry out investment projects as scheduled, especially driving projects.

The province executed Plan 139/KH-UBND dated September 30, 2021 of the Provincial People's Committee on organization of annual business, cooperative and investor meetings in the 2021-2025 period and organization of theme-based meetings and dialogs. In addition, the Provincial People's Committee established a special working group to remove difficulties and obstacles and support local businesses, investors and investment projects as per Decision 1094/QD-UBND June 2, 2023.

Right persons, enough policies, quick procedures

Mr. Pham Van Thieu, Chairman of the Bac Lieu Provincial People’s Committee, said, in the coming time, Bac Lieu province will focus on attracting investment in several pillar areas: High-tech agriculture, clean energy development, tourism, education, high quality healthcare, and marine economic development. This is considered a right, timely decision to create a clear and specific direction for the province to enhance its administration and focus social investment resources for targeted activities.

Besides, the province advocates attracting and selecting high-quality projects that generate high added value, use modern, environment-friendly technology, biotechnology and new materials and generate many jobs for local workers; strengthening investment promotion and attraction for large-scale projects; and selecting large, reputable investors with financial potential. At the same time, the province focuses on small and medium-sized projects suitable to local potential, strengths and conditions. With a clear investment attraction approach built on the above pillars, the province has actively approached and contacted domestic and foreign investors and introduced projects to capable ones.

The province continues to create an attractive investment environment by introducing incentive policies and investment support policies according to the motto of “Right persons, enough policies, quick procedures”, "Always accompanying investors and businesses” and “What is easy is for businesses, what is difficult must be done by the government”. The province has now published the contact hotline to the Chairman of the Provincial People’s Committee and directed localities to publish their contact hotlines to promptly resolve difficulties and problems for businesses and investors.

With the firm and close attention and direction of the Provincial Party Committee, the Provincial People’s Council and the Provincial People’s Committee, with the effort of the entire political system, the investment environment of Bac Lieu province is increasingly improved, open and transparent.

By Duc Binh , Vietnam Business Forum