Improve the efficiency of investment promotion
(i) Continue to improve and develop infrastructure, serving as a foundation to attract investment projects in the province.
To enhance the appeal of foreign investment in the province, it is essential to renovate and improve the quality of promotional documents and publications This effort should prioritize investment promotion targeting large and multinational corporations, while also developing tailored promotion plans Additionally, collaboration with central ministries and sectors is crucial for effective promotion strategies.
Recognizing and appreciating on-the-spot promotions is essential to enhance support for projects with investment certificates, ensuring their smooth deployment Timely resolution of challenges faced by investors fosters trust and confidence, which in turn helps to promote a positive local investment environment through these investors.
(iv) Continue to update and upgrade the website of the Department and the province to introduce foreign investment.
(v) Actively approach and take advantage of attracting investment from large corporations of Japan, the United States and European countries
(vi) Regarding planning and attracting industrial park infrastructure investors:
Ongoing efforts to enhance and expedite the detailed planning of industrial clusters and parks across the province aim to attract infrastructure investors and boost economic development.
Strengthen the ability of investment management and investment
When investing, it is crucial to focus on the stages of investment verification and approval Key considerations should include technology, environmental impact, national defense, and security Additionally, prioritizing the efficient use of land resources is essential for sustainable development.
To enhance project execution, emphasis is placed on expediting the disbursement of registered capital for projects with investment registration certificates This involves streamlining administrative procedures and site clearance processes A comprehensive review of these projects, particularly ongoing and large-scale initiatives, will be conducted Collaborative efforts among departments will ensure effective monitoring and promotion of projects in line with established timelines, while any violations will be addressed decisively.
(iii) Resolutely put an end to the project's non-implementation, slow implementation, handling of environmental violations
(iv) Promote control and prevent transfer pricing of enterprises.
(v) Urging projects to implement the reporting regime on project implementation on the National Foreign Investment Information System.
The province will conduct a review of foreign investment projects with registered investment certificates to address challenges in their implementation Additionally, measures will be implemented to enhance post-inspection efforts, ensuring a thorough understanding of the operational status of foreign enterprises.
To enhance collaboration, it is essential to facilitate ongoing dialogues between businesses, government departments, and local authorities This approach aims to swiftly address and resolve the challenges faced by enterprises, while also supporting them in establishing effective mechanisms for dialogue and consultation.
Increasing the effectiveness of management, inspection, monitoring, and business assistance
Enhancing business connections and diversifying the quality of support services is essential for enterprises This includes providing market information, assistance in finding business partners, and employment support services Additionally, offering financial aid for training highly skilled workers is crucial to meet enterprise demands Furthermore, businesses benefit from legal advice and support with administrative procedures related to land leasing, site clearance, import-export regulations, customs, and taxation.
Enhancing collaboration among sectors and local authorities is crucial for effective enterprise management and oversight It is essential to prioritize the implementation of measures that address and eliminate challenges faced during project execution.
(iii) Set up and publicize the "hotline" of the Office of the Provincial People's Committee and departments and branches to promptly receive feedbacks from businesses.
Every six months to a year, it is essential to hold meetings and dialogues involving provincial leaders, state management agencies, and the business community These discussions aim to identify and address the challenges and obstacles faced by enterprises promptly.
Finalize the policy
(i) Strengthen regional linkages, promote advantages to optimize resources in development, participate more deeply in "production chain", "value chain".
To promote investment in the agricultural sector, it is essential to implement an effective support mechanism for production models This involves transitioning from intermediary support to direct assistance for producers, while ensuring processes and procedures are completed, publicized, and transparent Additionally, establishing a robust monitoring and control mechanism is crucial for effective implementation.
(iii) Pilot implementation of regulations on public-private partnership, especially in the field of technical infrastructure investment Promote investment attraction in the form of: Build - Operate - Transfer (BOT).
To support job creation in regions requiring land acquisition, it is essential to continue research and implement policies that facilitate this process Focus should be placed on the planning and development of resettlement areas, along with providing incentives for the construction of apartments and housing specifically for workers in industrial zones Additionally, enhancing social security services in areas with industrial parks and clusters, such as cultural centers, sports facilities, and service areas for investors and foreign experts, is crucial for fostering a conducive living and working environment in Nghe An province.
Improve the quality of labour
As the era of "abundant and cheap labor" comes to an end, it is crucial to implement a strategic approach to systematically train human resources in both knowledge and skills, alongside modern industrial work practices This comprehensive training will serve as a key competitive advantage in attracting foreign direct investment (FDI) in the evolving landscape.
To enhance the investment sector, officials and civil servants must continuously upgrade their qualifications and implement attractive policies regarding salaries, recruitment, and housing to draw high-quality talent to the Province It is essential to provide regular advanced training for staff involved in project appraisal and management Additionally, establishing housing policies and foreign language training for FDI sector workers will ensure their stability and productivity Encouraging foreign investors with training expertise to establish branches or joint training initiatives in the province will help develop a skilled workforce for foreign projects, ultimately improving the overall quality of human resources.
To effectively address the human resource needs of the foreign-invested economy, it is essential to understand its development landscape and requirements This understanding will inform the creation of targeted training programs and strategic plans that align with actual conditions, ensuring a workforce capable of meeting the evolving demands of foreign direct investment (FDI) Successful implementation of this approach relies on using economic demand driven by FDI as a benchmark for determining the necessary quantity, quality, and structure of human resources Additionally, policymakers must consider labor market signals and the responsiveness of the existing workforce to generate effective strategies and resources.
To meet the labor recruitment needs of investors, it is essential to train and develop high-quality human resources capable of accessing modern technology Additionally, researching and adjusting labor restructuring in line with the pace of economic restructuring is crucial for fostering a competitive workforce.
(v) Improve labor skills, especially for farmers whose agricultural land has been acquired.
Recommendations
For the state
The Ministry of Planning and Investment must persist in releasing legal documents that guide the execution of the Investment Law and the Enterprise Law Additionally, it should enhance the coordination between the investment management agency and the business registration agency to ensure effective implementation of the Law on Enterprises.
The Government and the Ministry of Planning and Investment must prioritize the development of national and regional investment promotion programs These initiatives should focus on key investment channels and projects, particularly those with significant capital, advanced technology, efficient land use, and environmentally friendly practices that positively influence the growth of other industries and sectors.
For Nghe An province
District and city People's Committees, along with relevant authorities, are urged to thoroughly assess all projects facing land clearance compensation issues The emphasis is on addressing challenges and expediting compensation processes to facilitate site clearance, thereby creating a conducive environment for investors to proceed with their projects Additionally, there should be coordinated efforts to resolve planning and construction difficulties, particularly in the procedures for issuing land use certificates.
75 rights and property ownership to investors This will facilitate investors to access capital sources to accelerate investment progress.
The province should consistently update and disseminate information regarding its policies and planning initiatives This includes sector and field planning, key product development, detailed construction plans, industrial park layouts, and investment promotion programs Additionally, it is essential to highlight priority areas for attracting investment and designated land areas available for investment across various sectors.
The Provincial People's Committee, in collaboration with the Vietnam Chamber of Commerce and Industry, is committed to reforming administrative procedures to expedite the process for investors This includes a thorough review and timely publication of all relevant administrative procedures to ensure transparency To enhance efficiency, all administrative tasks for organizations and individuals will be processed through a one-stop-shop mechanism Additionally, agencies and units are encouraged to strengthen inspections and promote the effective implementation of this system to facilitate smoother interactions for investors.
Departments, branches, and People's Committees of districts and cities are encouraged to actively research and propose new projects, particularly focusing on land use and transportation initiatives, to facilitate public announcements and attract further investment.
Enhancing collaboration between departments is essential for innovating processes and improving the quality of investor document and project appraisals This includes integrating the appraisal of investment projects with land use assessments and fire prevention procedures Implementing tailored appraisal forms, primarily through written opinions, will ensure a more efficient evaluation process for each project.
Foreign direct investment (FDI) plays a crucial role in the economic development of Nghe An province and Vietnam as a whole The province has prioritized the management and attraction of FDI, resulting in significant improvements to the investment environment These efforts aim to attract more potential investors in the future, highlighting the importance of FDI in driving economic growth.
Through research at the Department, my report clarified the following issues: Assess the status of attracting foreign direct investment in the province.
Propose measures to improve and enhance the investment environment of the province to enhance investment attraction.
I tried my best to complete the report but inevitably limited knowledge I look forward to receiving suggestions from teachers to prepare the best for my thesis.
3 OECD (1996), Benchmark difinition of foriegn direct investment
4 Ngọc Thi (2017), Kinh nghiệm của Trung Quốc trong thu hút vốn đầu tư trực tiếp nước ngoài, Luanantiensi.com
5 Sở Kế Hoạch và Đầu Tư tỉnh Nghệ An (2020), Báo cáo tình hình kinh tế xã hội 2020
6 Sở Kế Hoạch và Đầu Tư tỉnh Nghệ An (2019), Báo cáo tình hình kinh tế xã hội 2019
7 Sở Kế Hoạch và Đầu Tư tỉnh Nghệ An (2018), Báo cáo tình hình kinh tế xã hội 2018
8 Sở Kế Hoạch và Đầu Tư tỉnh Nghệ An (2020), Báo cáo tình hình kinh tế xã hội 2019-2020
9 Tổng cục thống kê (2019), Niên giám thống kê 2019
10 Tổng cục thống kê (2018), Niên giám thống kê 2018
11 Tổng cục thống kê (2017), Niên giám thống kê 2017
12 Thanh Le (2019), 26/27 chỉ tiêu KT-XH năm 2019 ở Nghệ An ước thực hiện đạt và vượt, NXB Báo Nghệ An.
14 Văn Cương (2021), Nghệ An: Hoàn thành quy hoạch 10/11 Khu công nghiệp, Báo Doanh nghiệp hội nhập.
15 Việt Hương (2020), Hà Tĩnh: Chọn lối đi riêng trong thu hút đầu tư trước ảnh hưởng dịch nCovid-19, NXB Báo đầu tư