Despite complicated developments of Covid-19, foreign direct investment (FDI) attracted to Hai Duong has still risen fairly high year on year, proving that the province is still an attractive destination of investors.
Built in Duc Xuong commune, Gia Loc district, the factory can produce 25,600 tons of cosmetics and 8,500 tons of plastic products partly for cosmetic packaging; trade, import, export, process, and package cosmetics, toys, and accessories; and manufacture 5,900 tons of knitted products, crafts, stationery, cultural products, soft hoses, plastic, printing, bamboo, wood, EVA, and paper products, etc.
The project has a total investment of about USD20 million.
Along with the project of General Glory Inc Limited, in the first five months of the year, Hai Duong attracted 10 new FDI projects with a total registered capital of USD98 million, including a number of projects with relatively high registered capital, such as Jun Cheng Vietnam Industry Co., Ltd.’s Jun Cheng Vietnam toy factory in Hoang Tien ward, Chi Linh, with a total registered capital of USD12 million and Regent Garment 3 project with a registered capital of USD35 million.
Apart from newly granted projects, in the first months of the year, 22 projects got USD139.2 million in additional investment, consisting of five projects outside industrial zones (IZ) and 17 in IZs.
In early January, the wholly South Korea-invested Chemilens Vietnam JSC. in Dai An IZ decided to add investment to its project to produce eyeglasses, prescription eyeglasses, and molds and exercise rights to import, export, distribution, and wholesale of goods with a total additional registered capital of about USD21.6 million.
It was the third time the enterprise had supplemented capital after two times in 2012 and 2016. After 13 years of presence in Hai Duong, the total registered capital of the company increased from close to USD16.3 million to nearly USD51.3 million.
Also in January 2021, the fully Hong Kong-invested Welco Technology Vietnam Co., Ltd. in An Phat Hi-tech IZ decided to increase investment in its project to manufacture, process, and assemble electronic circuit boards by USD15 million.
After this capital increase, the firm’s total registered capital rose to USD25 million. It is capable of manufacturing, processing, and assembling 2.6 million products/year.
By the end of May 31, the province lured USD244.7 million in FDI, up 12% year on year.
Further improvement of investment environment
In the coming time, departments, sectors, and local authorities will continue administrative reform in the mechanism of joint supervision and inspection of investment and public responsibility of officials and civil servants in processing procedures on investment, land, construction, import, export, labor, environment, etc. to remove troubles and create conditions in the shortest time for investors when they carry out projects; transparently publicize connection points, dossier processing time, and procedures for business registration certification on the internet to facilitate foreign investment, contributing to increasing the attraction of the local investment environment.
Director of the Department of Planning and Investment Le Hong Dien said that the department would devise regulations on coordination among relevant agencies and units to create consistency, convenience, and quickness when processing administrative procedures, focusing on procedures after investment registration certification, land allocation and rent, construction licensing, environment, and investment and business conditions for enterprises; continue to review promulgated legal documents to perfect the provincial legal document system, abolish documents no longer suitable, develop and perfect the legal system ensuring consistency, transparency, accessibility, and efficiency and meeting requirements of sustainable development; continue to pay attention to and create more favorable conditions for investors in production and business, create a close relationship between State management bodies and enterprises, further consolidate trust for foreign investors to feel secure in production and business in Hai Duong; counsel the provincial People’s Committee to direct departments, sectors, and local authorities to diversify and improve the quality of enterprise support services, especially services providing information about the market and finding business partners; intensify information about labor and employment support services and fund the training of highly skilled workers to meet businesses’ needs; and care about giving advice on legal issues and supporting the implementation of administrative procedures on land rent, site clearance, import, export, and customs.