Dien Bien Provincial Business Association worked with Tuan Giao District People's Committee to remove obstacles for businesses investing in projects in the area.
The Provincial Party Committee and the People's Committee of Dien Bien have directed departments, sectors, and localities to promptly and flexibly grasp and resolve the difficulties faced by enterprises to facilitate investment expansion. Additionally, the province has issued an action program and developed specific plans to implement Resolution No. 41-NQ/TW dated October 10, 2023, of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the new era. In the first months of 2024, various departments, agencies, and the People's Committees of districts, towns, and cities received 21 recommendations from the Business Association within the province. Of these, 10 recommendations have been addressed and resolved, while 11 have received responses and are being further processed.
On May 22, 2024, in Pa Sang village, Hua Thanh commune (Dien Bien district), Dien Bien Rubber Joint Stock Company held the groundbreaking ceremony for the construction of the first rubber latex processing plant in Dien Bien. The plant has a total investment of 60 billion VND and a designed capacity of 5,000 tons per year (with a drying oven capacity of 2 tons per hour). It ensures that all latex harvested from rubber plantations in the province is processed. Additionally, it contributes to increasing the production and business efficiency of the company, creating stable employment for hundreds of local workers.
Mr. Nguyen Cong Tam, General Director of Dien Bien Rubber Joint Stock Company, stated: "During the project's implementation, the company has always received support and favorable conditions from the provincial leadership and local authorities. Dien Bien province has provided the best conditions for the company to complete procedures related to land, planning, environmental impact assessment, and fire prevention and control. The company also benefits from tax and fee policies and various other investment attraction policies. It is expected that by the end of 2024, the basic investment components will be completed; trial runs of the plant are scheduled for March 2025, with full operation by June 2025. In the future, the company hopes that the provincial People's Committee will approve support for infrastructure such as electricity, water, and access roads to the plant."
Investing in the construction of a rubber latex processing factory helps increase production and business efficiency, creating stable jobs for hundreds of local workers. In the photo: Workers of Dien Bien Rubber Joint Stock Company harvesting rubber latex.
Similarly, the BHL Dien Bien Tapioca Starch Processing Plant Project was granted investment policy approval and investor approval by the provincial People's Committee on March 15, 2024. The project is being constructed in Tan Ngam village (Nua Ngam commune, Dien Bien district). The plant covers an area of 28.7 hectares, with a total investment of approximately 283 billion VND, a production capacity of 200 tons of starch per day, and 50 tons of cassava residue per day and night. It utilizes modern technology with a closed, automated production line from European countries.
According to Mr. Nguyen Van Phuc, Director of BHL Dien Bien Agricultural Products Processing Joint Stock Company, during the investment process, the enterprise hopes to enjoy preferential policies such as corporate income tax exemptions and reductions, land rent exemptions, and land use tax exemptions. State management agencies are expected to support the implementation of administrative procedures and related issues during the project's execution and the plant's production and business activities. Additionally, the province should have plans and sustainable development strategies for cassava raw material areas, enhancing the application of science and technology, and introducing high-yield, high-quality cassava varieties into production to meet demand.
Credit institutions always create conditions for businesses and investors to access capital to carry out business investment activities.
Facilitating businesses and investors' access to capital is one of the important solutions Dien Bien province has implemented to improve the investment and business environment. Recently, commercial banks and credit institutions have always provided favorable conditions for enterprises to access capital sources.
As of April 30, the total credit balance in the province reached 20,304 billion VND. Of this, short-term loan balances were 6,566 billion VND, accounting for 32.34% of the total credit balance, while medium and long-term loan balances were 13,738 billion VND, accounting for 67.66% of the total credit balance. For example, since the beginning of 2024, Agribank's Dien Bien Branch has implemented several measures to increase access to capital and promote credit growth, such as proactively reducing lending interest rates and launching credit programs with a scale of over 180,000 billion VND with interest rates 1-3% lower than regular rates to encourage and support business customers. As of April 30, the unit's total mobilized capital reached nearly 6,000 billion VND, and credit balance reached 7,000 billion VND. Among this, the credit balance for enterprises was 2,150 billion VND, accounting for 31.5% of the total credit balance.
The Provincial People's Committee organized a conference to meet businesses and investors to promote investment in potential areas of the province.
Since 2021, VietinBank's Dien Bien Branch has been implementing financial products for enterprises operating in the construction sector, especially guarantee products. Through this, eligible enterprises can receive advance capital from investors to carry out projects based on signed construction contracts. In 2023, VietinBank's Dien Bien Branch issued 647 guarantee commitments with a total issuance amount of 414 billion VND. In the first five months of 2024, the bank issued 274 guarantee commitments with a total amount of 142 billion VND, including 26 advance payment guarantees totaling 90 billion VND, supporting enterprises in implementing construction plans.
At the meeting with enterprises and investors at the end of May 2024, discussing solutions to improve the investment and business environment, Chairman of the Provincial People's Committee, Le Thanh Do, emphasized: "In the coming time, Dien Bien province will focus on decisively directing several breakthrough tasks and solutions to create a more attractive investment and business environment. We will strengthen communication to create a positive shift in the perception of all levels and sectors about the importance of prioritizing administrative reforms, improving the investment and business environment, and enhancing the province's competitiveness. We aim to build and develop digital governance, simplify administrative procedures, business conditions, and investment licensing, and resolutely eliminate unreasonable barriers and informal costs."./.
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