In a bold move to enhance its Provincial Competitiveness Index (PCI), Hoa Binh province has carried out various measures to create a more dynamic and business-friendly environment across all economic sectors.
With upgrades to its investment and business climate, Hoa
Binh province has attracted many investors. Seyoung INC Co., Ltd. at Luong Son
Industrial Park in Luong Son district has generated jobs for local residents.
Nhuan Trach Industrial Park, one of the
province's 14 flagship projects, exemplifies this initiative. With an
investment of nearly 2.4 trillion VND (nearly 95 million USD) and spanning
213.68 hectares, the project is being developed by Hoa Phu - Hoa Binh Co., Ltd.
According to Deputy General Director of the company Luu Quoc Khanh, it wants to
build modern infrastructure while prioritising high-tech projects that add
value to the local economy, contributing to local sustainable economic
shifting.
The project faced initial challenges with land
clearance and compensation, particularly regarding resettlement issues. The
province then directed Luong Son district to accelerate the land clearance
process and complete relevant procedures. These efforts culminated in the
project's groundbreaking ceremony on January 10, 2025.
Following the Government’s resolution on
measures to create a better business environment and competitive capacity, Hoa
Binh developed and carried out various action plans focusing on administrative
procedure reform, improvement in competitive edge, and business support. The
province has utilized international media and events to promote its receptive
business community on a global level.
The results after one year are remarkable. By
the end of 2024, the province digitised 1,838 administrative procedures, with
over 55% fully available online. The implementation of a five-step digital
process has enabled 100% of provincial and district-level procedures to be
handled electronically. This has led to a 99.6% rate of on-time application
processing and a 98% satisfaction rate among citizens and businesses. Business
registration procedures have been streamlined, reducing the time for the
establishment of a business to just two days.
The intelligent operations center (IOC) has
provided real-time data analysis for more effective decision-making, while a
digital investment promotion database helps investors access information
easily.
Additionally, regular dialogues with businesses
have addressed concerns effectively, with two major conferences involving 280
companies helping to resolve various issues. The total outstanding loans in the
region reached over 41.2 trillion VND in 2024, up 2.9% from the previous year.
Despite these achievements, the province still
faces delays in master planning approval, which affects investment attraction.
Businesses continue to encounter difficulties in land access and administrative
procedures while human resources quality and the connection between training
institutions and businesses need improvement.
Deputy Director of the Department of Planning
and Investment Vu Duc Dung said it is important to develop digital infrastructure
and provide more support policies for small and medium enterprises. In the
meantime, the province should continue issuing support policies while
encouraging innovation and strengthening collaboration between educational
institutions and businesses to develop a skilled workforce.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
The inspectorate agency of Hoa Binh province has issued Official Dispatch No. 1090/TTr-PCTN to provincial departments, agencies, localities, business associations, enterprises, and investors regarding measures to improve informal component indexes of the Provincial Competitiveness Index (PCI).
Hoa Binh is taking concrete steps to improve its investment environment, with a strong focus on supporting businesses, settling obstacles for strategic investors, and creating opportunities for robust development in the coming years.
Under the blazing early summer sun, the construction site of Nhuan Trach Industrial Park (IP) in Luong Son district is abuzz with activities from dawn to dusk, a testament to the determination of the investor to meet their construction targets on schedule.
