Simplifying administrative procedures to boost invesment attraction

Binh Dinh has seen positive signs in the investment attraction recently, but it is also facing some “obstacles”, particularly administrative procedures, director of the province’s Center for Investment Promotion (IPC) Nguyen Bay said in an interview with Binh Dinh News.

A resort project is under construction at Nhon Hoi Economic Zone.

According to Bay, the province’s transport network include all road, railway, airway and waterway, connecting with key national highways in Vietnam. Newly-built routes between Phu Cat airport and Nhon Hoi Economic Zone are also expected to lure more potential investors to Binh Dinh.

The expansion of the airport, offering more flights to depart from and arrive in Binh Dinh, was also seen as a driving force for the local real estate market.

However, Bay also confirmed that the administrative procedures are the real challenge for local authorities in inviting more investors to the province. For example, a real estate project usually requires formalities formed by 9 laws and 20 procedures, making an investor spend a lot of time to follow.

He said that IPC would directly contact with every potential investor to promote the province’s projects. One of its priorities is to consult the authorities about the simplification of unnecessary procedures, helping investors to shorten waiting time. 

The center will also improve its strategies for investment promotion and diversify channels for calling on investment projects.

N.HAN

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