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Red tape holds back investment in Binh Phuoc

Update: October, 22/2013 - 09:05

Minh Hung-South Korea Industrial Park.— File Photo

HCM CITY (VNS)— The southern province of Binh Phuoc has promised to focus on streamlining administrative procedures and improving infrastructure to make it easier for investors who have been complaining about them.

C&N Vina Co Ltd, which built the Minh Hung-South Korea Industrial Park, for instance, said it encountered problems like poor infrastructure and tortuous procedures.

It took two years to wrap up administrative procedures for building a dormitory for workers, it said.

Minh Hung 3 Industrial Park's developers said the procedures for getting approval to increase capital and clearing land took too much time, affecting the progress of work.

In response, the provincial Department of Planning and Investment has called on the People's Committee to reform administrative procedures and generally improve the investment climate.

Vu Thanh Nam, the department's director, also said relevant agencies have been instructed to list all bureaucratic procedures on their websites to make it easier for investors.

The province plans to improve infrastructure and urge investors to speed up installation of infrastructure at industrial parks, he said.

It is considering changes to its incentive policies, like those related to labour training, subsidising investors' advertisement costs, and providing more land-rental incentives, he said.

Authorities plan to organise a promotional trip to Japan to seek investment for industrial parks in the province, he said.

The province is preparing to zone off an eco-tourism area in the districts of Bu Gia Map and Bu Dop and build an industrial park-trade and service areas cluster in Dong Phu District.

Nam said the province, which has carefully earmarked lands, expects to attract more investment in future. — VNS

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