Continue to pay attention to attraction of foreign direct-invested capital for socio-economic development

Published On: 15/08/2017

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 (Quang Binh Portal) - Defining the importance of attraction of foreign direct-invested (FDI) capital to socio-economic development of the province, Quang Binh province, in the past time, has incessantly improved business and investment climate through strengthening infrastructure development, reforming administrative procedures and training human resources with high quality, speeding up investment promotion to attract potential projects in the locality.
Up to now, the province has attracted 20 FDI projects with a total registered capital of USD683.77 million, of which 07 projects, worth USD448.89 million, have put into operation; 09 projects, worth USD230.96 million, have been being built; 02 projects, worth USD1.86 million, are temporarily being postponed and 02 projects, worth USD2.06 million, are being revoked.

FDI projects does not only create more funds for investment and development, but also supports for a sound and stable business and investment climate, creating a human resource with high quality.

Together with strong development of FDI enterprises, contributions of foreign economic sector to local budget have seen a high increase, contributing to providing more jobs, increasing labor productivity, eliminating hunger and reduce poverty. FDI projects have provided more than 1,175 jobs with an average income of approximately VND3.5 million/month. FDI enterprises have also promoted domestic enterprises to renovate technology and management method in order to improve quality and competitiveness of products and services in the foreign and domestic markets.

However, FDI attraction has still reached low compared with the province's potential and demands. The FDI projects in trade and import-export fields have low registered capital. Economic efficiency from FDI projects has remained low, the FDI projects' contributions to provincial budget and income for laborers have still limited, etc.

In order to complete targets in the 2016-2020 period with a focus on attracting approximately 25-30 FDI projects with a total registered capital of about USD1,000 million, in the upcoming time, all levels, agencies and localities should strengthen mass mobilization work of the political system in foreign investment attraction for the province's socio-economic development; reject cumbersome procedures to simplify investment procedures; have preferential policies to attract investment, making a belief for investors in the implementation of the project.

In addition, the agencies and localities should build up a list of projects calling for foreign investment with a focus on socio-economic development of the province; accelerate the progress of site clearances for investment projects, create a clean land fund for foreign investment projects; pay attention to improving quality of human resources in FDI projects; focus on building necessary infrastructures for investment attraction, etc.

It is believed that with the implementation of comprehensive solutions to improve business and investment climate in the province, the foreign investment attraction will become more efficient, meeting the targets of sustainable economic growth, creating jobs and improving income for laborers.

By Nhu Y
(Source: Quang Binh Portal)

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