Ninh Binh works to attract more investment

Investment attraction of the northern province of Ninh Binh has seen remarkable progress, contributing greatly to its socio-economic growth. This was attributed to the province's provision of mechanisms and policies in favor of attracting investment over the past few years.

Ninh Binh works to attract more investment

In 2019, the province renovated and diversified policies and programs on investment promotion, realizing that this helps draw in investments along with supporting businesses' operation. It stepped up investment promotion both inside and outside Vietnam, targeting prestigious groups.

It has also focused on implementing the administrative reform, improving the business and investment climate, and working to increase its provincial competitiveness index, especially in the fields of investment, land, taxation, customs, and labour.In addition,Ninh Binh has regularly organised dialogues with investors to help them deal with difficulties and speed up the implementation of projects, while at the same time working to build a convenient, open, and transparent business and investment environment.

In 2019, Ninh Binh had 809 newly established businesses with a total registered capital of 5.4 trillion VND; and granted investment licences to 46 projects worth 10.3 trillion VND, including 4 FDI projects.

With that, province has to date attracted 71 FDI projects with a total registered capital of over 1.3 billion USD, mainly in the fields of garment and textiles, footwear, and electronic components.

In 2020, Ninh Binh will continue pursuing its investment attraction program, focusing on hi-tech agriculture projects, automobile support industry, environmentally friendly projects and those having high added value of Japanese, Republic of Korean, American, and EU investors.

It will also focus on renovating and diversifying investment attraction promotion actitivies along with improving the quality of investment and business environment to create more favorable conditions for investors.

Translated by Nguyen Thuy