Illustrative image (Photo: nhandan.com.vn)

Thai Nguyen (VNA) – The northern mountainous province of Thai Nguyen has attracted 62 projects with total registered capital of about 113.5 trillion VND (4.8 billion USD) since it hosted the investment  promotion conference last July.

The locality is now home to 882 valid investment projects, including 753 projects valued at around 140 trillion VND (6.02 billion USD) run by domestic investors and 129 foreign-invested projects worth some 7.2 billion USD.

After Samsung Group of the Republic of Korea (RoK) landed in Thai Nguyen in 2013, the province has welcomed a  new wave of investment, including those from big groups like Vingroup, T&T and FLC.

The investment inflows have helped spur local socio-economic development, thus helping Thai Nguyen advance quickly on the road to become an industrialised province.

Hoang Thai Cuong, Director of the provincial Department of Planning and Investment, said Thai Nguyen has launched specific action plans and assigned tasks to departments and localities in efforts to attract more investments.

The Department of Planning and Investment has focused on administrative reform, helping reduce time and cost on administrative procedures of investors and businesses, he added.  

Thai Nguyen is committed to creating a favourable business environment for businesses, and providing optimal support to firms that want to expand operation, change production and business plans, and gain investment licences.

The province has also assisted enterprises in labour training and electricity supply, and land clearance while offering them tax incentives.

According to Nhu Van Tam, Vice Chairman of the provincial People’s Committee, Thai Nguyen is speeding up the building of a public service centre and has issued a resolution on improving the local business environment and provincial competitiveness index.

It has also developed mechanisms in support of investment in infrastructure in industrial clusters, amended and supplemented policies on investment in agriculture and rural areas, and facilitated land clearance for major projects, especially high-tech, smart and environmental-friendly ones, he said.-VNA