​The northern province of Hai Duong has worked continuously to improve its investment environment, removing difficulties and creating favourable conditions to facilitate the operation of foreign direct investment (FDI) enterprises in the locality, the provincial leaders told representatives of 400 FDI firms based in the locality at a meeting on May 18.

According to Chairman of Hai Duong provincial People's Committee Trieu The Hung, the meeting is an opportunity for the province to listen to FDI firms' opinions and recommendations, thus timely solving bottlenecks that hindering smooth operation of FDI enterprises in the locality.

Representatives of FDI enterprises at the event spoke about problems they are facing, including transport infrastructure, social insurance, site clearance, land lease, regulations on fire prevention and fighting, incentives for FDI enterprises investing outside industrial parks (IPs), procedures and documents for project construction permit, electricity supply situation, and mechanisms for investment in infrastructure in IPs.

Hai Duong provincial Party Committee Secretary Tran Duc Thang admitted limitations in the province's business and investment environment, saying that one of the major causes is the performance of state agencies and civil servants.

He said the province will  continue with efforts to improve the business and investment environment, standing side by side with businesses, creating all the most favourable conditions for enterprises to operate in the locality.

To date, the province has 496 FDI projects with a total capital of over 9.2 billion USD from 26 countries and territories, ranking 4th in the Red River Delta region and 11th in the country.

Investors from Asian countries accounted for 90% of the total number of foreign investors; in which, China’s Hong Kong investors accounted for 40%; Japan 16.3%, and the Republic of Korea 15.4% of total registered investment capital.

FDI enterprises currently contribute over 60% of industrial production value of the province. The FDI sector is also a leader in export, international economic integration, creating many new products for locally produced goods and is a bright spot in contributing to the provincial budget every year, accounting for about 30% of the total budget revenue of the locality.

Regarding orientation to attract investment in the coming time, Hai Duong will prioritise projects using high and smart technology, biological industry, new materials, processing industry, manufacturing and supporting industries; projects with high added value, and eco-friendly projects./.

​Quote: Mqi