Thai Nguyen Province improves business environment

Currently, 8,877 businesses are operational in Thai Nguyen Province with the total registered capital of more than VND129.43 trillion. Under its socioeconomic development plan for the 2021-2025 period, Thai Nguyen expects to have 11,600 businesses by 2025, including 4,100 new enterprises with the total registered capital of VND57.37 trillion. The province is concentrating on developing digital enterprises and promoting the application of science and technology in production and trade. It expects to have 700 digital enterprises by 2025 and 3,000 by 2030.

In recent years, Thai Nguyen has made nonstop efforts to reform administrative procedures and enhance the efficiency of its e-government, the provincial public administrative center and those of districts to facilitate business access to capital resources. The province has concentrated on dealing with bad debts and supporting small- and medium-sized enterprises in worker training. At the same time, it encouraged businesses to build brands for their products and apply high technology to production. Thai Nguyen has also facilitated business access to land resources and encouraged them to use land in an effective, economical and sustainable manner. The province listened to business opinions and dealt in a timely manner with problems arising in the implementation of laws and regulations.

Packaging fresh milk at Elovi Joint Stock Company in Pho Yen City

The province’s leaders have spent time meeting and talking with the business community and investors to understand their problems so as to take timely support measures, especially during the three years of the COVID-19 pandemic.

Kim Sang Nam, General Director of Samsung Electro-Mechanics Vietnam (SEMV), said that Samsung Group’s production value in Vietnam has been stable and keeps growing. Improvements in Thai Nguyen’s business and investment environment have encouraged the group’s leaders to maintain operations in the province. “We appreciate the willingness of provincial leaders and relevant departments to accompany businesses and resolve their problems as quickly as possible,” he added.

Thai Nguyen Province’s willingness to accompany businesses has enabled the locality to attract both domestic and foreign investment. According to Dau Anh Tuan, Director of the Provincial Competitiveness Index (PCI) Program and Head of the Legal Department of the Vietnam Chamber of Commerce and Industry (VCCI), the province has dealt on a timely basis with problems facing businesses in the implementation of administrative procedures, making businesses feel secure about investing in the locality.

Nguyen Van Thoi, President of Thai Nguyen Province’s Business Association, said that the support of provincial authorities has been a huge source of encouragement for businesses to overcome difficulties and recover production and trade for further development.