Bac Giang strives to address difficulties for investment projects

Bac Giang (VNA) – The northern province of Bac Giang is taking drastic measures to help solve difficulties for investment projects in an effort to boost production and business activities and economic development, according to the provincial Department of Planning and Investment.

The locality is also paying special attention to the implementation and disbursement of public investment

The province is trying to reduce costs for businesses, and increase their access to preferential capital and State support. Accordingly, the State Bank of Vietnam's Bac Giang branch is offering to meet the capital needs for production, especially those in sectors and fields that have been encouraged to develop in accordance with policies issued by the Government and the Prime Minister; and accelerating the implementation of the Government's Decree on interest rate support from the State budget for loans.

According to the provincial Department of Planning and Investment, the province will promote the implementation of business support programmes such as trade and e-commerce, and industrial encouragement plans and another on energy saving, to help enterprises improve production capacity, expand scale, innovate technology, find new markets, reduce production costs, and promote production and sustainable development.

The industry and trade sector has coordinated with departments, branches, People's Committees of districts and Bac Giang city to regularly monitor petroleum supply in the locality; promptly reported to the Ministry of Industry and Trade for direction and coordination to avoid supply disruption, and ensure adequate supplies of petrol and oil to serve production and business activities of enterprises and people; strengthened supervision, inspection and control to promptly detect stockpiling; and strictly handled any violations.

In addition, the sector will closely cooperate with the Ministry of Industry and Trade and other provinces and cities to connect and support businesses in seeking alternative sources of goods, raw materials, supplies, and input components for production, especially raw materials for textiles and electronics in case the supply chain is affected by epidemics or political conflicts; and at the same time guiding enterprises on standards, specifications, packaging, preservation and labeling in accordance with the requirements of export markets.

Bac Giang will also focus efforts on solving the shortage of local labour in a number of industries and fields, promoting the implementation of policies and solutions to support workers, and improve training to meet the requirements of the labour market and businesses.

Agencies, departments and localities in the province have increased the organisation of meetings, contacts and dialogues with businesses and investors to grasp and promptly solve difficulties and problems for businesses; monitor and supervise the settlement of difficulties and problems, and publicise the results.

Attention will be paid to accelerating the implementation of supporting businesses in digital transformation in accordance with the Law on Support for Small- and Medium-sized Enterprises to improve the efficiency of production and business activities, as well as the capacity and competitiveness of enterprises.

Bac Giang will continue to concentrate on effectively implementing the digital transformation plan in the 2021-2025 period with a vision to 2030, while enhancing the efficiency of its online public services and applying digital signatures, ISO, as well as software to connect and share data, thus improving the effectiveness of management and direction over the implementation of tasks among State agencies.

Statistics from the provincial Department of Planning and Investment show that in the first nine months of 2022, Bac Giang saw 1,243 newly established enterprises, up 26% over the same period of 2021, with total registered capital of 24.5 trillion VND (988.9 million USD), up 23.2% year-on-year.

To date, there have been 13,310 enterprises in the province, including 12,811 domestic firms with registered capital of 132.09 trillion VND, and 499 foreign-invested companies with registered capital of 3.94 billion USD./.