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Thứ 5, Ngày 01/02/2018, 15:00
FDI attraction in Binh Duong – Episode 3: Building up a favorable business climate for businesses
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01/02/2018 | Ngọc Diệp
BEGIC - ​Since its re-establishment, Binh Duong has concentrated on implementing different solutions to build the infrastructure synchronously and modernly for socio-economic development. Thanks to its remarkable efforts on improving business climate, the province has made big leaps forwards, becoming one of the localities with the most dynamic economy and ranking second nationwide in FDI attraction.

Synchronously investing in infrastructure

Infrastructure plays a very important role in local socio-economic development and FDI attraction. It is proved that countries with poor infrastructure will face difficulties in attracting foreign investors. Consequently they will not have favorable conditions to develop their infrastructure. To break this repeated circle, it is necessary to forego by initially investing in building and upgrading the infrastructure that meets the requirements of FDI attraction. According to Bloomberg News, Vietnam's economy is one of the smallest but the leading one in infrastructure investment in the region.

Realizing the above-mentioned advantages, Binh Duong has paid much attention to building synchronously the transportation infrastructure that meets the requirements of local industrialization, modernization and FDI attraction. With the approved projects, provincial Party Committee and People's Committee have always paid great attention to urging relevant sectors of all levels to invest in upgrading, renovating, enlarging and building road systems while concentrating on mobilizing  all resources  to build new roads and others ones running through Binh Duong's area schemed by Central sectors, connecting local road systems to national transportation junctions, networks and those of provinces and cities in the Southern Key Economic hub.

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My Phuoc – Tan Van expressway plays an important role in boosting local socio-economic development

The province puts great concerns on the transportation infrastructure including important and key routes, and north – south backbone routes like highway 13, ĐT ĐT741, ĐT742, ĐT744, and east – west beltways like ĐT743, ĐT746, and ĐT747. These routes create a transportation network that is synchronous and uninterrupted to connect urban areas, industrial zones, residential areas, production materials areas, rural areas; to link the center of Binh Duong New City to urban, industrial areas, and national transportation junctions , networks and those of provinces and cities in the area.

The two north – south backbone routes including highway 13 and D9T741 connect the industrial zones in the south of Binh Duong to industrial zones, urban areas, production materials areas, and rural areas in the north of the province. They also link Binh Duong to HCMC, Binh Phuoc, highland provinces and Cambodia, playing an important role in socio-economic development, FDI attraction, industrialization and urbanization of Binh Duong.

Basing on the scheme of beltway 3 approved by Governmental Prime Minister, Binh Duong has proactively mobilized non-state budgetary resources to invest in My Phuoc – Tan van expressway that helps to connect Binh Duong New City, urban and industrial centers of the province to national traffic junctions and those of provinces and cities in the Sothern Key Economic Zone. This is an important route that helps to boost socio-economic development in line with industrialization, urbanization and modernization processes.

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In addition to developing transportation infrastructure, the province has invested in different systems of electricity, water supply and drainage, waste treatment, telecommunications, environmental protection…. These facilities have basically satisfied the needs of investors. As a result, most investors have chosen local industrial parks for their projects. According to reports about provincial competitiveness index (PCI) in 2016, Binh Duong was ranked in top 10s of attractive investment addresses in Vietnam together with familiar localities as HCMC, Da Nang, Can Tho…It was noticeable that Binh Duong got the highest score on infrastructure with 59.1%.

Tsai Wen Jui, General Director of Taiwanese Active International Corp. said that investors from Taiwan highly evaluated the business climate in Binh Duong. Therefore, his Corp. decided to choose Bau Bang Industrial Park which has good infrastructure as expected to start their project.

Sharing the same viewpoint, Park Dong Moon, CEO of Kolon Industries, Korea said after 2 years to study the business climate in Vietnam, his Kolon Industries has investigated different industrial parks nationwide. Finally, they chose Bau Bang Industrial Park of Binh Duong because this one met required needs.

Evaluating the business climate in Binh Duong, Kadowaki Keiichi, Chairman of Japanese Business Association in HCMC assumed that Binh Duong is one of the localities that has the best infrastructure in Vietnam. It also has good workforce and dynamic authorities who are willing to listen to businesses' ideas, to facilitate investors with high responsibilities. In addition, the geographical location of Binh Duong in the Southern Key Economic Zone enables investors to expand markets and seek for new opportunities to grow.

Building up investors' truth

With the motto "Red carpets for FDI attraction", Binh Duong has deployed many measures to unceasingly improve business climate to lure FDI investors. Dr. Huynh The Du, senior lecturer at the Fulbright Economics Teaching Program explained at the workshop on local brand name that Binh Duong was like a special economic zone 20 years ago although it did not have privileges. Binh Duong implemented issues of legislation, laws and policies just like other provinces and cities did but the province did creatively and became the "shining star" in the eyes of FDI investors for over 2 recent decades.

Du also assumed that Binh Duong has become a phenomenon because its authorities and government have always accompanied with businesses. In 2016, Binh Duong was ranked in top 5s of provinces and cities with highest score on management quality (43.7%). For the first consecutive 3 years applying Provincial Competitiveness Index (PCI), Binh Duong has continuously topped. 8 years later, the score dropped and stopped at 58 marks. The province was ranked in groups of provinces and cities with rather good results in PCI. In 2016, with the score of 63.57, the province made a remarkable breakthrough, ranked 4th in PCI.

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Provincial leaders meet and have dialogues with Korea's businesses

The achievements are attributed to the drastic efforts in administrative reform which aims at reducing expenses and time for people and businesses. After 2 years of operation, the provincial Center of Public Administration has effectively run, providing friendly, rapid and professional public services to people and businesses.

The province has cooperated with Binh Duong Post Office to help people and businesses submit their documents right at home, enable businesses use online services to register a date with state organs, and send apology letters in case of time-out replies. Provincial People's Committee and departments have paid much attention to building up the image of "friendly government and offices", and to accessing ideas of people and businesses about Satisfaction Index of Public Administrative Services (SIPA).

In addition, Binh Duong has proactively held many meetings and dialogues with domestic and foreign businesses to acknowledge and solve their difficulties. For complaints that need feedbacks from Central sectors, the province will forward to authorized organs. At the meeting with Binh Duong-based Korean investors by August 2017, Park Noh Wan, General Consul of Korea in HCMC highly appreciated the outstanding efforts of Binh Duong's authorities to organize many meeting and talks that not only push up cooperation but deal with challenges facing Binh Duong-based Korean investors as well. This is one of the reasons for Korean businesses to decide their investment in Binh Duong.

Apparently, the remarkable achievements in FDI attraction made by Binh Duong for over 2 decades have proved that local brand name is built up not only on favorable natural conditions and geographical location but also good policies and long term visions.

Episode 4: Renovation in FDI attraction

 

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