INTRODUCTION VINH PHUC INVESTMENT PROMOTION AGENCY. Nguyen Tien Hanh Director, IPA Vinh Phuc

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1 VINH PHUC INVESTMENT PROMOTION AGENCY INTRODUCTION INVESTMENT CLIMATE & POLICIES FOR INVESTMENT ATTRACTION IN VINH PHUC PROVINCE VIET NAM Nguyen Tien Hanh Director, IPA Vinh Phuc

2 CONTENT 1 ADVANTAGES OF INVESTMENT CLIMATE IN VINH PHUC PROVINCE 2 POLICIES FOR INVESTMENT ATTRACTION AND SUPPORTS OF VINH PHUC PROVINCE 3 FIELDS AND SECTORS CALLING FOR INVESTMENT 2

3 6 major advantages 1.1 Favourable geological, natural conditions and transportation 1.2 Investors and enterprises support from the local Government and local people 1.3 Simple and fast-processing administrative procedures by one-stop service mechanism 1.4 Young population, labor abundant; and rich cultural and historical traditions 1.5 Integrated socio-economic infrastructure basically installed in a modernized way 1.6 Great opportunities for supporting industry for automobile, motorcycle, electronics, and tele-communication

4 1.1 Favourable geographical location and transportation + Vinh Phuc is located inside 03 planning zones: the Northern Vietnam key economic region, the Red River delta, and Hanoi Capital region; + Being a part of Yunnan (China) Lao Cai Ha Noi Hai Phong (Viet Nam) Corridor and Vietnam Northern Industrial Developing Corridor. + Convenient transportation systems available: national highways railways, Trans-Asian railways, Red river and Lo river waterway; bordering with Noi Bai International Airport. Regional transportation network 4

5 1.1 (Cont.) + Natural topography includes: delta, midland, and mountainous areas; is potential for multiform of tourism (eco, resort, sport, adventure, spiritual tourism), and green economic development. + Temperate climate, annual average temperature: o C; + Good geological structure, and solid ground facilitate industrial and urban development, saving foundation cost of construction; + High density of rivers, lakes, swamps; water source abundant for industrial use and for living; + No earthquakes nor flood. BA THIEN 2 INDUSTRIAL PARK 5

6 1.2 Investors and enterprises support from the local government and local people + With the following motto: Investors in Vinh Phuc are the province citizens, the success of the enterprises are also the province s ; + The provincial leaders takes drastic measures in management; facilitating the investors in doing business; resolving difficulties in time for investors and enterprises; + Vinh Phuc is one of the top provinces with the best management capability in economic development, in 2015, the province ranks 4 th /63 in provincial competitiveness index; + The local people are willing to handle the land to investment project for socio-economic development. Leaders of Vinh Phuc Province and Piaggio Italia in brand new Vespa scooter lauching Ceremony 6

7 1.3 Simple and fast processing administrative procedures by one-stop service mechanism + Administrative procedures on investment are published on the internet and at processing units in the province; + One-stop service processing mechanism, time reduction is from one third to half compared to normal method; + Communicate and support the investors in 4 main languages: English, Japanese, Korean, and China. Document preparation consulting service Providing info to Investors Publish mechanis m training supports One stop service processing ONE STOP SERVICE Set up communication system Document receiving and results returning Receive & processing feedbacks and proposals Supports for whole lifetime of projects Investors support in Vinh Phuc Province 7

8 1.4 Young population, labor abundant; and rich cultural and historical traditions. + Golden population structure, low rate of dependency, labor rate in total population 59.6%, rate of trained labor is increasing continuously; + There are 35,000 high school and secondary school students graduate each year; 20,000 students graduates from universities, colleges, vocational and training schools; and thousands of engineers, bachelors, and workers from abroad return to work in the province. IT practicing in Vinh Phuc Vocational College 8

9 1.4 (Cont.) + The local people are known for their fondness of learning, labouriousness, and creativity. The students in the province won many international and regional Excellency Contests (golden and silver medal); + Hundred of ranked historical and cultural monuments in well-known tourism sites and the national primary forest. There are 2 national exceptional ranked vestiges: Tay Thien historical and cultural tourism site, and Binh Son tower The art of construction - Binh Son Tower National Exceptional Ranked Vestige 9

10 1.5 Integrated socio-economic infrastructure basically installed in a modernized orientation. + Completed master plan and sectional plan for socio-economic development; completed master plan for construction in a closed provincial border, aiming to a sustainable development; + The Province has installed an internal and external transportation network with 4 belt-roads, 9 center-pivot roads, Noi Bai Lao Cai Express Way (Trans- Asia Expressway and National way 2. + Prioritization are given to irrigation system and rural transportation; Vinh Phuc Urban Plan by 2030 with vision to

11 1.5 (Cont.) + 19 planned industrial parks with a total area of 5,530 ha. Standard factories, warehouses available for lease to SMEs in each industrial parks; + Clean water supply, power supply, wastewater and waste treatment, telecommunication available; + Service and living facilities: hotels, restaurants, amusement parks, golf course, etc. are developing fast. Khai Quang Industrial Park 11

12 1.5 (Cont.) + Benefits from ODA funded projects and other concessional loans of international banks: Vinh Phuc Flood Risk and Water Management Project (World Bank - WB); Secondary Cities Development Program Green City (Asian Development Bank ); Vinh Phuc Investment Climate Improvement Project (Japanese Bank for International Cooperation JBIC). A transportation project funded by Japanese ODA 12

13 1.6 Great opportunities for supporting industry for automobile, motorcycle, electronics, and telecommunication in the North of Vietnam. + Toyota, Honda Corp.(Japan), Piaggio(Italia), Daewoo (Korea) are successfully manufacturing and assembling automobile and motorcycles in Vinh Phuc; + Several large electronics Corp from Japan (Canon), Korea (Samsung), Taiwan (Foxconn, Compal) invested in Vinh Phuc and nearby provinces and cities. International Corporations invested in Vinh Phuc 13

14 2. POLICIES FOR INVESTMENT ATTRACTION AND SUPPORTS Beside the common regulations, investment projects in Vinh Phuc also benefit from the following policies and supports: 2.1 The Province installs all essential infrastructure: transportation road, power and water supply, telecommunication, etc. to the border of the industrial parks; 2.2 Lowest land rental price applied according to the regulated frame enables the enterprises to reduce production cost and increase the competitiveness of products; 2.3 Authorized provincial and district agency responsible for fast land acquisition, clearance, and compensation, creating a land pool available for investors; 2.4 Simple administrative procedures publicly listed about process, document lists, application forms and being monitored under one stop service mechanism online at 14

15 2. POLICIES FOR INVESTMENT ATTRACTION AND SUPPORTS 2.5 Receiving feedbacks and proposals, timely resolving difficulties of enterprises by setting up and maintaining the operation of an online Dialogue Portal between Enterprises and the Government. vinhphuc.gov.vn After receiving questions, feedbacks, or any proposals from the enterprises, the relating organizations are responsible for answering within 05 working days. 15

16 2. POLICIES FOR INVESTMENT ATTRACTION AND SUPPORTS 2.6 Finance support for labor training, project documents preparation, especially, supporting industry projects in the industrial parks are free-of-charge for administrative procedures, support the investor in recruitment. 2.7 For large-scale projects or projects greatly benefit the socio-economic development, more favorable policies might be considered. 16

17 3. FIELDS AND SECTORS CALLING FOR INVESTMENT 3.1 Industrial Development Mechanics, automobile and motorbikes assembling, and related supporting industries Electronics, telecommunication and related supporting industries New materials and light-weight materials Agricultural forestry and fishery process; Industrial park infrastructure. 17

18 3. FIELDS AND SECTORS CALLING FOR INVESTMENT 3.2 Service Development Finance, banking, insurance; Stocking, logistics; Supermarket, restaurant, hotel; Eco-tourism resorts, high-class amusement parks; Education and training centers: Universities, vocational schools, high schools, and high quality kindergartens; Healthcare and medicalcare hospitals, nursing centers. 18

19 3. FIELDS AND SECTORS CALLING FOR INVESTMENT 3.3 Agricultural development Hi-tech production of vegetable, fruit, and flower with processing facilities Hi-quality diary and pig with food processing facilities.

20 3. FIELDS AND SECTORS CALLING FOR INVESTMENT 3.4 Socio-economic infrastructure development Clean water treatment and supply, urban effluent drainage and treatment; Industrial waste and household waste treatment. 20

21 Thank you for your attention! Vinh Phuc Investment Promotion Agency (IPA Vinh Phuc) Nguyen Trai Str, Dong Da Dist, Vinh Yen, Vinh Phuc Tel: (+84) Fax: (+84) ; Website: ipavinhphuc.vn ipa@ipavinhphuc.vn doithoaidoanhnghiep.vinhphuc.gov.vn