Dong Nai provincial party committee secretary Tran Dinh Thanh led investment promotion delegation to the United States for seeking strategic investor who is interested in high-tech business in the afternoon of September 21. Dong Nai Newspaper’s Kim Loan interviewed Mrs. Dang Thi Kim Nguyen in charge of foreign trade and investment in Dong Nai
What is the purpose of the visit to the US for investment promotion?
This visit to the US was really a good chance for Vietnam, particularly Dong Nai to introduce to US investors the image of a new and stable country or the province‘s renewal that is developing steadily and becoming the most attractive destination for foreign investors. These potentials are waiting for investment and sustainable development. Although province has the fastest-growing economy in Vietnam, the province want to take into account these potentials and the need for encouraging in-depth investment projects such as high-tech industries, particularly in auxiliary industries.
Although Dong Nai lured approximately US$8 billion in FDI up to now, in fact, there are only a few US investors to invest in Dong Nai. What do you desire in this visit to the US?
We don’t set concrete target that how many contracts have to be signed with US investors in this visit to the US. The United States of America is watched as the most powerful country where will find enormous potentials for pursuing our investment promotion. We will offer US investors investment opportunities in Vietnam, particularly in Dong Nai province that help them make investment decisions. Many US investors from Michigan, Chicago and other localities in the USA know very little about Dong Nai province. They don’t know how to look for the province of Dong Nai of Vietnam map. Therefore, our message to US investors is that Dong Nai is an attractive and profitable destination for foreign investment via this visit to their country.
What do you answer American businesses if they ask why foreign investors should come Dong Nai for doing business?
Dong Nai boasts an abundant supply of vacant land available for investors, plentiful workforce and favorable conditions for attracting foreign investments. The province offers an ideal location that is situated in Thi Vai port and close to Long Thanh international airport. After completion of Long Thanh airport in accordance with a schedule in late 2010 benefits the province. It is only a 4 hour flight from Dong Nai province to neighbouring regions and countries such as China, ASEAN and Japan …. In the other hand, the province will coordinate with investors to train labor force in order to meet their requirements if they want.
What are the preferential policies offered to foreign investors?
Some American investors from Cargill, OPV, Gannon and Nike…. that are gaining success in doing business in Dong Nai province are accompanying the delegation to the US for investment promotion. I think that these businesses will share their success stories to help spread the message that the local government creates favorable investment climate in Dong Nai and facilitate foreign investment into the province. Foreign investors enjoy preferential policies from the central government. Besides, we make efforts to further accelerate reform in order to reduce the administrative burden on foreign investors. More should be done to further shorten the appraisal time. In appraising, we focus on innovative issues to reduce the time of appraising applications and granting licenses from 7 days to 2-3 days or between 8-24 hours. We are stepping up administrative reform and adopt the new-styled managerial mechanism of one door - on spot alongside proper implementation of laws and regulations governing operations of foreign investment. In addition, local government is planning to create an Internet-based registration system where foreign investors can submit their applications for granting of licenses. This will create a facility that will attract foreign investors to Dong Nai. Presently, we have just launched a website http//consultdongnai.gov.vn that provides useful information for both domestic and foreign investors.
To date, Dong Nai has absorbed approximately US$8 billion of FDI with nearly 700 investment projects. Especially, Nike group has invested a few hundred million dollars in producing athletic footwear at factories of its subcontractors. FDI projects created jobs for 70,000 labors. Thus, Dong Nai is an attractive and safe destination for foreign investors.
By Kim Loan
