Investment attraction in Dien Bien: New opportunities emerging

The National Tourism Year - Dien Bien 2024 event opens up new opportunities for the province to attract investment, making an important contribution to promoting regional connectivity and being an effective bridge to bring tourists and investors to learn more, explore more on the historical land of Dien Bien.

Recently, the investment attraction and business environment improvement of Dien Bien have shown many positive changes. This land has received the attention of many investors and large economic corporations to learn, conduct surveys, researches, and to sign cooperation and investment agreements.

Investment attraction in Dien Bien: New opportunities emerging
Prime Minister Pham Minh Chinh inspected the progress of a project to expand the Dien Bien airport on April 8. (Photo: VNA)

Synchronized deployment of multiple solutions

During the 2021-2023 period, Dien Bien has issued Investment Certificates and Investment Policy Decisions for 42 projects, with a total registered investment of over 16,209.395 billion VND. Currently 120 projects are completed and put into operation with a total investment capital of about 13,207,931 billion VND. Accumulated investment projects registered in the province are 200 projects, with a total registered capital of over 44,188.72 trillion VND.

The province has actively called, promoted and attracted the domestic leading investors, corporations and large companies to learn, survey, research, sign cooperation agreements and implement their investment projects. To quote the names of large companies, we have Sun Group, Vin Group, Deo Ca Company, and ONew...

These achievements are attributed to Dien Bien's synchronous implementation of solutions to attract investment resources inside and outside the province. Specifically, the province focuses on reviewing and prioritizing the selection of fields with potential and strengths such as: high-tech agricultural production, organic agriculture; processing industry; auxiliary industries; clean energy, renewable energy and investment in urban infrastructure development in Dien Bien Phu city, to attract the investment. The province also rolls out various investment promotions in line with the implementation of socio-economic, sectorial and regional development plans of the province.

Bearing the expectation that the number of projects and total registered investment capital next year will be more by year, Dien Bien periodically organizes meetings with Business Associations and investors in the province to evaluate the implementation situation and resolution of problems and difficulties under the responsibility of state agencies; focus on building and effectively implementing the Program to improve the Provincial Competitiveness Index (PCI) for investment attraction.

Dien Bien always supports and creates the best conditions for businesses and investors, especially in administrative procedures, a consistent viewpoint of changing, thinking and working style from “licensing” to “serving” the businesses and investors.

In the near future, the province will shorten the time for issuing Business Registration Certificates from 3 days as normally prescribed, down to 1.5 working days. Administrative procedures for business registration are carried out seamlessly in the network environment between business registration, tax and insurance agencies. The authority encourages and provides maximum support for businesses to submit applications online to reduce time and business costs.

The implementation is continued for the Projection to support small and medium-sized enterprises, promote administrative reform, improve provincial competitiveness, perform well in dialogue, and promptly remove obstacles for businesses and investors in investment and production, export and trade activities.

"Bottlenecks" solved step by step

Right after the start to implement the goals of the resolution of the 14th Provincial Party Congress, term 2020-2025, the Provincial Party Executive Committee has developed and issued Resolutions specifying the action plans, strongly to promote the investment and socio-economic development.

Among them, there are thematic resolutions for connection of transport infrastructure, gradually solving "bottlenecks" in traffic connection by investing in renovating and upgrading the Dien Bien Airport. The province prepares to make investment into the Son La - Dien Bien expressway and in upgrading and expanding key traffic routes, linking the region in a synchronous and modern manner.

To date, the Dien Bien Airport expansion and construction project has been accomplished, and the airport has been put into operation. This is a greatly encouraging motivation for the province to continue implementing its transport infrastructure development strategy. In particular, 2024 is the year to celebrate the 70th anniversary of the Dien Bien Phu Victory.

Investment attraction in Dien Bien: New opportunities emerging
Dien Bien Phu Airport. (Photo: VNA)

Along with Dien Bien Airport reopening for larger aircrafts, the key projects on transport infrastructure, urban areas, trade and services continue to be invested and put into operation, creating opportunities to attract investment and promote economic growth.

The province is also focusing on preparing to invest in the Son La - Dien Bien Expressway Project (phase 1), project to renovate and upgrade section of National Highway 12D...

In addition, the results of expanding foreign relations with other countries and international organizations promote and highlight the image and people of Dien Bien, helping the province continue to attract investment, develop tourism, and contribute an important budget revenue in the province.

Investment commensurate with potential and advantages

The Resolution of the 14th Dien Bien Provincial Party Congress identifies the overall goal. By 2025, Dien Bien must develop rapidly and sustainably. In particular, investment attraction has been identified by the locality as one of the key solutions to achieve this goal.

Currently, Dien Bien is focusing on combining the investment resources from the state budget with the investment from economic resources to develop modern infrastructure associated with urban development for rolling out the master plan up to 2030, with a vision to 2050 which has just been approved by the Prime Minister. At the same time, there is a need to review and re-adjust the urban area of Dien Bien Phu city, along with other urban areas of the province to create favorable conditions for large corporations such as CME, Dai An Investment JSC, and Agroup Investment Group to come for surveys and investments.

In the coming time, in order to attract the investment to meet expectations and be commensurate with the province's potential and advantages, Dien Bien pays special attention to improving the investment and business environment; with the responsibilities of Party Committees and local authorities attached to the investment projects of investors from the time of surveying and project conceptualization until the implementation and completion of the project.

The responsibility, initiative, and creativity of the team of officials and civil servants are highlighted, especially required of the heads of agencies and units, exclusively of agencies and units directly involved. The administrative procedures are to be well performed for the people and businesses in the investment field. The index of human resource training must be improved to provide good qualification of human resources with accountability to participate in implementing projects of investors, as well as businesses.

Apparently, on the occasion of the National Tourism Year - Dien Bien 2024 and the efforts of the local government, new opportunities are opened for Dien Bien's investment attraction journey, realizing the aspiration of a rapid and sustainable development in Dien Bien.

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