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Plan on implementing foreign investment cooperation strategy for a period of 2021 - 2030 in Vinh Phuc province 

 Thursday, November 30,2023

AsemconnectVietnam - Expand markets, take advantage of capital, technology, management knowledge, and corporate culture of foreign-invested areas; improve the competitiveness of the economy, businesses and domestic products; promote domestic industry, agriculture and services

Plan on implementing foreign investment cooperation strategy for a period of 2021 - 2030 in Vinh Phuc province
I. Objectives
1. General objectives
- Attract foreign investment projects using advanced technology, new technology, high technology of the Fourth Industrial Revolution, modern management, high added value, and widespread impact. Actively radiate, connecting global production and supply chains.
- Expand markets, take advantage of capital, technology, management knowledge, and corporate culture of foreign-invested areas; improve the competitiveness of the economy, businesses and domestic products; promote domestic industry, agriculture and services;
- Improve efficiency and comprehensive quality in attracting and using foreign investment capital, increasing the contribution rate of the foreign investment sector in socio-economic development, commensurate with the priorities of the foreign investment sector. Incentives and support received;
- Build and develop innovation centers in Vinh Phuc province, creating motivation for socio-economic development for the coming period.
2. Specific goals
- Complete the specific goals stated in Plan No. 157-KH/TU dated November 8, 2019 of the Provincial Party Committee to implement Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientation perfect institutions and policies, improve the quality and efficiency of foreign investment cooperation by 2030.
- Increase the proportion of registered investment capital of countries and territories in some areas in the province's total foreign investment capital to more than 80% by 2030, including: Asia: Japan, Korea, Singapore, Thailand, India, Malaysia, Indonesia, China, Taiwan (China); Europe: England, France, Germany, Italy, Spain, Russian Federation, Sweden; Americas: United States; Australia: Australia.
- Attracting 1-5 more multinational corporations belonging to the group of 500 largest corporations in the world ranked by Fortune Magazine (USA) to invest in Vinh Phuc province.
- Among the top 10 provinces and cities in the country in terms of Provincial Competitiveness Index (PCI).
II. Tasks and solutions
1. Continue to effectively deploy assigned solutions at:
- Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientations to perfect institutions and policies, improve the quality and efficiency of foreign investment cooperation until 2030;
- Resolution No. 23-NQ/TW dated March 22, 2018 of the Politburo on orientations for building national industrial development policies to 2030, vision to 2045;
- Resolution No. 10-NQ/TW dated June 3, 2017 of the Fifth Conference of the 12th Party Central Committee on developing the private economy to become an important driving force of the oriented market economy Socialist;
- Resolution No. 58/NQ-CP dated April 27, 2020 of the Government promulgating the Government's Action Program to implement Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientation perfect institutions and policies, improve the quality and efficiency of foreign investment cooperation by 2030;
- Decision No. 1851/QD-TTg dated December 27, 2018 of the Prime Minister approving the Project "Promoting the transfer, mastering and development of technology from abroad into Vietnam in priority industries and fields". "Foreign period up to 2025, orientation to 2030";
- Decision No. 67/QD-TTg dated October 2, 2019 of the Prime Minister approving the Project "The impact of the US-China trade dispute on attracting foreign direct investment into Vietnam".
- Decision No. 1102/QD-TTg dated August 6, 2020 of the Prime Minister approving the Plan to implement the Free Trade Agreement between Vietnam and the European Union.
- Resolution 02/NQ-CP of the Government on main tasks and solutions to improve the business environment and enhance national competitiveness;
- Plan No. 157-KH/TU dated November 8, 2019 of the Provincial Party Committee to implement Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientations for perfecting institutions, policies, and upgrading High quality and efficiency of foreign investment cooperation until 2030.
2. Improve the business investment environment, improve the quality, efficiency and competitiveness of the economy
a) Regarding institutions
- Strengthen the proactive, strong, uniform and substantive participation of departments, branches, branches and People's Committees of districts and cities to create a fair, open and transparent business investment environment. Ensuring the investment environment and laws are stable, unified, synchronous and increasingly perfect, promptly adapting to new issues and handling shortcomings to improve the quality and efficiency of foreign investment.
- Apply business investment procedures flexibly according to the principle of post-audit for appropriate business sectors and professions according to the provisions of law to create competition in the process of attraction and use foreign investment capital.
- Review and advise and propose to Ministries and central branches to continue cutting unnecessary and unreasonable industries, occupations and business investment conditions, ensuring full and consistent implementation of business freedom of the government according to the provisions of law.
- Increase transparency in state management activities on investment, supervision and law enforcement, and post-investment support to limit and prevent investment disputes; Propose solutions to resolve investors' problems and disputes.
- Strictly monitor and control the acquisition behavior of foreign investors and foreign-invested enterprises towards domestic enterprises, especially large enterprises and enterprises operating in strategic fields; Strictly control investment projects that have the risk of negatively affecting security and public order.
- Promote administrative reform, minimize the time to carry out business investment procedures; equal treatment between domestic and foreign enterprises; Protect the legitimate interests of investors to enhance the confidence of foreign investors.
- Accelerate the construction and development of e-Government in Vinh Phuc province; Providing online public services to create favorable conditions for business investment activities of enterprises.
- Promote the implementation of commitments in the EVFTA towards ensuring benefits between Vietnam and the EU, including strengthening implementation supervision at the grassroots level to ensure policies on improving the business environment are implemented effectively in practice.
- Improve predictability and transparency in the process of developing legal documents of the province; Strengthen activities to monitor and evaluate the appropriateness, impact, quality of policies and the effectiveness and efficiency of policy implementation on foreign investment cooperation in the province.
- Review and promulgate policies to create a legal corridor for the development and management of new investment forms and methods in accordance with international practices.
b) About infrastructure
- Planning for infrastructure development in a modern synchronous direction, with strategic thinking, long-term vision, associated with regional connectivity. Improve economic infrastructure systems and modern non-manufacturing industries in finance, banking, insurance, e-commerce, and telecommunications to meet the needs of businesses.
- Create favorable conditions for economic sectors, including the foreign investment sector, construction investment and infrastructure business in many forms in compliance with the provisions of Vietnamese law and in accordance with the provisions of Vietnamese law in accordance with international practices.
- Issue a list of priority projects to attract investment in infrastructure development to develop high-quality infrastructure systems, such as transportation infrastructure, telecommunications infrastructure, information technology, electricity, water, logistics..., social infrastructure such as hospitals, schools, vocational training... of Vinh Phuc province.
c) Regarding the commodity market
- Diversify export markets, taking advantage of signed free trade agreements, especially new generation agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP), Vietnam - EU Free Trade Agreement (EVFTA) and Regional Comprehensive Economic Partnership (RCEP).
- Research to propose to competent authorities to amend and supplement a number of policies related to tariff and non-tariff barriers to ensure integration commitments as well as the rights of domestic enterprises, improving effective cooperation with the foreign investment sector.
- Fully form and ensure effective operation of all types of markets serving commodity production, especially markets directly related to foreign investment such as finance, land, labor and technology.
- Strengthen market liberalization of factors of commodity production; ensure market principles in access to land, capital and opportunities to enter the market.
3. Develop an ecosystem of science, technology and innovation
- Promote and raise awareness of authorities at all levels about the importance of innovation and creative startups. Promote international cooperation in research and development, technological innovation, and creative startups. Building and developing the Innovation Center of Vinh Phuc province and businesses to develop a startup and innovation ecosystem, supporting businesses to access technological innovation and creative startups .
- Drastically and effectively deploy Resolution No. 50/NQ-CP of the Government dated April 17, 2020 on the Action Program to implement Resolution No. 52-NQ/TW dated September 27, 2019 of the Politburo on some guidelines and policies to proactively participate in the Fourth Industrial Revolution.
- Build and develop a science, technology and innovation ecosystem with a flexible management mechanism, suitable for the digital business environment to create a favorable space for innovation and creative startups , creating a foundation to attract and develop high-tech industries.
- Encourage cooperation, technology transfer and management based on voluntary agreements for domestic enterprises. Improve standards and technical regulations on products, environmental protection, resources and energy saving in harmony with regional and world standards.
- Promote the protection and commercialization of intellectual property rights to ensure the rights and interests of organizations and individuals participating in scientific and technological activities and creative activities.
- Improve the quality of human resources associated with innovation, application and strong development of science and technology. Encourage the private sector to invest in labor training in key industries, occupations, and fields requiring high quality that Vietnam lacks and that foreign-invested enterprises need.
4. Innovate and improve competition in attracting foreign investment
- Develop balanced and reasonable foreign investment attraction policies, ensuring foreign investment attraction and cooperation in accordance with orientation, planning and development requirements.
- Focus on attracting large-scale projects to become the nucleus, driving force behind satellite projects, forming linked clusters of production - manufacturing - supply - services in the province.
Prioritize attracting projects that can accelerate economic restructuring, have spillover effects, connect global production and supply chains, and organically link with the domestic economic sector for supporting industry development.
Enhance the attraction of capital, technology, and advanced management experience from foreign invested enterprises, focusing on converting from quantity to quality, converting from outsourcing and assembly (OEM) to design and manufacturing (ODM), increase added value, participate in higher levels in the value chain. At the same time, focus on small and medium-sized projects, consistent with the industry and local economic development orientation.
- Prioritize attracting investment projects in the field of high-tech industry, source technology, environmentally friendly clean technology, effective use of natural resources, land, and labor, creating favorable conditions and strengthen links with domestic businesses. Focus on attracting investment in supporting industrial fields such as: processing, manufacturing, electrical and electronic components, auto and motorbike parts, and high-tech industry. For the agricultural sector: attract foreign investment in smart agriculture, adapt to climate change, and transform the structure of crops and livestock breeds towards sustainability.
- Promote research and regularly update information on the investment conditions of the world's leading multinational corporations to accurately grasp the investment orientation of these corporations for introduction and promotion. Promote in accordance with the development orientation of the province and each Group. Establish links between multinational corporations and domestic businesses, encourage multinational corporations to coordinate with high-level university and vocational training institutions, and scientific research organizations Study in Vinh Phuc province to improve qualifications and capacity.
- Investment support policies need to be considered, based on output results such as added value, high technology use components, research and development, technology transfer to domestic enterprises, and support for domestic enterprises. Support domestic businesses, especially small and medium-sized enterprises participating at all levels in the supply chain.
- Departments, committees, branches, and People's Committees of districts and cities regularly review and prepare conditions on premises, land, infrastructure, labor, energy... to be ready to receive investment capital flows. Investing in moving and relocating production. Review industrial parks to prepare clean land funds ready to welcome the wave of foreign investment. Promote synchronous infrastructure upgrades to create competitive advantages to attract long-term investment.
5. Develop supporting industries, promote linkages and spread
- Assess the current status, technology and market trends, develop a strategy to prioritize the development of a number of specific fields of supporting industries (supporting industries) from time to time to prioritize development, avoid stagnant, spread, ineffective investment.
- Develop appropriate incentive and incentive mechanisms to increase links between foreign investment and domestic investment, priority areas to attract investment; improve absorption capacity, gradually moving towards technological autonomy; Developing industry clusters and value chains, contributing to improving domestic added value and product competitiveness.
- Continue to implement policies to support businesses in investing in technological innovation; Promote the formation and development of intermediary organizations, create conditions to develop the science and technology market, encourage businesses to transfer, apply and innovate technology, and promote commercialization of results, research and technology development results; Forming joint ventures and links between foreign invested enterprises and research institutes and universities in Vinh Phuc province.
6. Promote internal capabilities and take advantage of competitive advantages to improve the effectiveness of foreign investment cooperation.
a) Promote the implementation of policy groups to promote increased labor productivity and total factor productivity (TFP), specifically:
- Promote research, application of science and technology, and innovation.
- Modernize and marketize education and training, including vocational training, focusing on improving qualifications, technical skills, and digital technology skills in accordance with actual needs and meeting the requirements of Fourth industrial revolution.
- Strengthen international cooperation in the field of training experts and improving productivity to support businesses in meeting digital transformation requirements.
b) Promote production and business development: clearly identify industries, fields, and products with key competitive advantages to have appropriate development support policies; Focus on improving labor productivity, competitiveness, technology level, and innovation.
c) Improve the capacity of domestic enterprises
- Developing the domestic business sector in international integration; Maximum support for startups, innovative businesses, small and medium-sized enterprises to enter into joint ventures and links with foreign investment sectors, focusing on the fields of high technology, new technology, and technology advanced, key technologies of the 4th Industrial Revolution, modern services, manufacturing industry, information technology and financial services.
- Enhance the competitiveness of Vietnamese businesses and goods. Promote measures to support small and medium-sized enterprises according to the provisions of the Law on support for small and medium-sized enterprises.
- Promote and support domestic enterprises in joint ventures and partnerships through capital contribution, share purchase, capital contribution of foreign invested enterprises in industries and fields using high technology and high, new, advanced technology moving towards owning and mastering technology.
- Orient and support domestic enterprises to evaluate, select and receive technology transferred from foreign invested enterprises, ensuring compatibility, synchronization and conformity with national technology development goals, involved in each stage.
- Build a database of domestic enterprises in the province capable of providing raw materials, components and accessories in the supporting industry to widely inform foreign investors to access and connect. .
d) Improve the quality of human resources
- Ensure implementation of commitments in new generation free trade agreements. Improve the quality of human resources to attract high-quality foreign investment.
- Strengthen professional training, skills, discipline, culture and raise awareness for the workforce, especially in priority industries to attract foreign investment, in accordance with international standards and requirements to attract and use foreign investment. Research and develop a coordination mechanism with large domestic and foreign corporations and investors to provide training according to "orders".
- Encourage foreign invested enterprises to train and improve skills and qualifications for Vietnamese workers so that Vietnamese workers can take on important positions in foreign invested enterprises.
- Encourage the employment of Vietnamese workers who have worked and trained abroad, especially from developed countries, to return to work in Vinh Phuc province.
- Encourage global vocational education organizations to invest in Vietnam; promote streamlining of university, college and vocational training; reform the functions, tasks, and organization of the education and vocational training management system to be appropriate and meet the development requirements of the labor market; Promote the "school in business" model.
- Invest and develop a modern labor market information system, maximum support for businesses in attracting, training and recruiting workers.
7. Improve the effectiveness of international economic integration
- Proactively engage in comprehensive international integration in a more effective and efficient manner, seize opportunities, overcome challenges, so that international integration makes a practical and pervasive contribution, truly becoming a means of serving sustainable national development on the basis of protecting national sovereignty and security.
- Implement measures to accompany and support businesses in the integration process and implement commitments on international economic integration, promptly listen to businesses' opinions and feedback on policy issues, problems in international economic integration.
- Protect the legitimate interests of the State, businesses and consumers of Vietnam in international economic, trade and investment disputes.
- Coordinate with the Ministry of Industry and Trade to implement trade defense measures to protect the legitimate rights and interests of businesses in the province.
8. Modernize and diversify investment promotion work
- Continue to innovate, perfect and improve the effectiveness of investment promotion work. Strengthen coordination and linkages between central agencies, professional associations, embassies of countries in Vietnam, Vietnamese embassies abroad, and government organizations countries in investment promotion.
- Innovate investment promotion work that is practical, effective, targeted, focused and key. When implementing investment promotion activities, it is necessary to attach them to new investment cooperation criteria; continue to maintain traditional markets and partners, while expanding new markets and partners.
- Proactively approach and mobilize flexibly through different channels such as: influential individuals, investors, business associations, international organizations, leading consulting companies, investment funds and influential individuals to attract large corporations to invest in Vinh Phuc province.
- Adequate investment to diversify and modernize investment promotion activities and methods.
- Strengthen dialogue mechanisms, innovate, and expand methods of receiving investors' recommendations and feedback; Completely and promptly handle difficulties and problems related to ongoing projects.
- Develop a set of criteria to evaluate the effectiveness of investment promotion activities at the provincial level after receiving guidance from the Ministry of Planning and Investment.
9. Improve the effectiveness and efficiency of state management of foreign investment
- Promote inspection, examination, and supervision of granting, adjusting, and withdrawing foreign investment projects, promulgating investment support regulations..., promptly detecting and handling violations , there are signs of illegality.
- Ensure economic - social - environmental efficiency, in accordance with planning, according to project selection and screening criteria... in state management of foreign investment in the province; processes and procedures for granting, adjusting, revoking, and terminating operations of foreign investment projects in accordance with the law.
- Promote assignment, decentralization, authorization, and coordination between departments and branches in the province associated with strengthening inspection and supervision. Simplify and unify the enterprise's periodic reporting templates to competent authorities according to the provisions of law.
- Completely handle projects that cause environmental pollution, ineffective land use, business losses for many years, projects that are not implemented or do not comply with commitments. Prevent and resolve early and effectively disputes related to foreign investment.
- Coordinate to complete the national database and information system on investment in a synchronous and interconnected manner with the fields of labor, land, construction, tax, customs, banking, foreign exchange, securities... Improve the quality of statistical work, ensuring timeliness, completeness, accuracy and compliance with international practices; attach the responsibility of periodic reporting to the enterprise with post-audit incentives.
10. Integrate the views and goals of the Strategy into the socio-economic development plans and strategies of Vinh Phuc province, agencies and units.
III. Implementation organization
1. Based on functions and tasks, Heads of Departments, branches and branches; Chairmen of People's Committees of districts, cities and related units seriously organize thorough understanding, implement effectively and are responsible to the Provincial People's Committee for the tasks and solutions in Section II and the issued Appendix attached to this Plan.
2. Assign the Department of Planning and Investment to monitor and urge departments, branches, localities and units to organize and implement the Plan. Annually report implementation results according to regulations.
During the implementation process, if any problems or problems arise, units and localities promptly report them to the Provincial People's Committee (through the Department of Planning and Investment) for consideration and resolution.
Above is the Plan to implement the Foreign Investment Cooperation Strategy for the period 2021 - 2030 in Vinh Phuc province. The Provincial People's Committee requests the Heads of Departments, branches, branches, and Chairman of the People's Committees of districts and cities to seriously and effectively implement this Plan./.

Source: Vitic/ thuvienphapluat.vn

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