The surge in investment inflows into the industrial parks (IPs) of Ninh Thuan province in recent years has been a significant contributor to the province’s socioeconomic development. The presence of tenants in these IPs extends beyond providing employment opportunities for local workers. They play an important role in catalyzing economic restructuring and propelling fiscal revenue growth.
Delegates at a workshop on green energy, green hydrogen and carbon neutral industrial parks
Increased appeal from complete infrastructure system
According to the Ninh Thuan Industrial Parks Development Planning to 2030 approved by the Prime Minister, the province will have four industrial parks with a total area of nearly 1,700 ha, namely Du Long (407.28 ha), Phuoc Nam (370 ha), Ca Na (827.20 ha) and Thanh Hai (78 ha). These IPs give priority to locally advantageous and potential industries like processing industries, high-tech industries, environmental protection and sustainable and effective investment.
At present, Ninh Thuan province has three industrial parks in operation. Thanh Hai Industrial Park has built technical infrastructure on 58 ha and attracted 22 projects with a combined registered investment capital of VND2,622 billion, including VND387.5 billion of foreign direct investment (FDI). Phuoc Nam Industrial Park, invested by Phuoc Nam - Ninh Thuan Investment Joint Stock Company, has completed the first-phase infrastructure construction on 151 ha and licensed 13 projects with VND372 billion of investment capital, including VND134.75 billion of FDI fund. Du Long Industrial Park, developed by Hoang Thanh Du Long Industrial Park Investment Joint Stock Company, licensed six investment projects with VND1,937.58 billion of investment capital, including VND750.587 billion of FDI fund. Ca Na Industrial Park is waiting for the conclusion on the current status of forest land from the Ministry of Planning and Investment and the Ministry of Agriculture and Rural Development before submitting it to the Prime Minister for consideration and approval. The first phase covers 387 ha of land.
Strongly developed business operations of tenants in IPs have largely helped increase the province’s industrial production value, export value and budget revenue. Knowing that investing in infrastructure development in IPs will draw investment capital for connected infrastructure and utility services for IPs and create new sources of State revenue which will be in turned used for infrastructure construction, the Ninh Thuan Industrial Parks Authority regularly urges IP infrastructure investors to build synchronous infrastructure facilities like wastewater treatment stations, green spaces, traffic and utility services to generate ready spaces for secondary investors. The authority pays attention to perfecting investment incentive policies applied in industrial parks like the single-window mechanism at its working office where it supports investors to settle investment administrative procedures and other ones for their projects quickly and conveniently.
The Ninh Thuan Industrial Parks Authority has also carried out many consistent solutions to improve the quality of human resources in association with enhancing the quality of investment promotion and investment support services like fostering information technology application to investment promotion, upgrading its website, updating complete and transparent information in many languages such as Vietnamese, English, Korean and Japanese and regularly updating information on investment policies to provide timely information for domestic and foreign investors. At the same time, the authority has cooperated with the Southern Investment Promotion Center, the Foreign Investment Agency (Ministry of Planning and Investment) and investment promotion agencies to boost images, potential and investment opportunities for investors.
Creating the most open and favorable climate for businesses
The authority is developing industrial parks and modern infrastructure, improving the investment environment, and streamlining administrative procedures to expedite investor operations. It regularly reviews and amends procedures to foster a conducive business environment. It also monitors the labor market, connects training schools with businesses, introduces policies on social and unemployment insurance, and collaborates with agencies to assist businesses with legal, training and recruitment procedures.
Mr. Su Dinh Vinh, Director of the Ninh Thuan Industrial Parks Authority, said, in order to support businesses and investors through challenging times, the authority enacted Decision 31/QD-BQLKCN on August 3, 2023, establishing a working group dedicated to assisting businesses and alleviating their difficulties. Subsequently, Decision 40/QD-BQLKCN was issued on September 18, 2023, forming a working group to gather information and aid businesses in complying with regulations. Official Dispatch 1334/BQLKCN-NV2 appointed personnel to these working groups to understand real-world situations and address difficulties in accessing and utilizing credit capital. The authority conducts monthly reviews and summaries of business hardships. Issues within its purview are resolved promptly by the Ninh Thuan Industrial Parks Authority. For issues beyond its jurisdiction, it provides recommendations to the Provincial People’s Committee to guide relevant agencies in collaboratively resolving these matters.
To uphold its achievements, in the coming time, the Ninh Thuan Industrial Parks Authority will continue to complete technical infrastructure in industrial parks to entice more investors. The province will give priority to appealing investors from the ASEAN Economic Community (AEC), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam - European Union Free Trade Agreement (EVFTA). The Ninh Thuan Industrial Parks Authority plans to connect the southern key region with the Central Coast, implement investment promotion programs, and use digital transformation to showcase investment opportunities. It will promptly share planning and development plans. Ninh Thuan, including its industrial parks, welcomes investors and is committed to creating a conducive business environment, supporting investors, and maximizing local development potential.
By Duy Anh, Vietnam Business Forum
Vietnamese
October 2024
Hanoi