Investment procedure processing time reduced from 32 days to 25 days
24/09/2021

 

On September 20, 2021, the Chairman of the Provincial People's Committee signed the Decision approving the plan to simplify administrative procedures in investment in Vietnam under the management function of the Department of Planning and Investment.

 

Accordingly, at present, the administrative procedure set in the investment field in the province consists of 22 procedures under the management functions of the Department of Planning and Investment (DPI), issued together with Decision No. 2391/QD-UBND dated June 16, 2021 of the Chairman of the Provincial People's Committee, of which there are 10 procedures under the approval authority of the Provincial People's Committee with processing time of 32 days (according to the Investment Law and related documents). The Chairman of the Provincial People's Committee (PPC) granted unanimous approval for a reduction of 7 days and therefore the total time to carry out the procedures goes from 32 days to 25 days.


The Chairman of the Provincial People's Committee also assigned the DPI to assume the prime responsibility and coordinate with relevant agencies in the application of the simplified implementation plan for 10 administrative procedures approved in the Decision.


In 2021, Vietnam is experiencing the fourth pandemic with complicated progress. As required by the central government, Binh Dinh province has been deploying robust and synchronous solutions in the prevention and control of the pandemic. The motto of combining "dual goals" is followed; therefore, disease prevention and control, and protection of people's health are a priority and socio-economic recovery and development are a crucial task.


Accompanying businesses in the province, in August 2021, the Provincial People's Committee held a conference to discuss solutions to deal with difficulties and promote production and business for businesses under the influence of the COVID-19 pandemic. The conference was chaired by the Secretary of the Provincial Party Committee Ho Quoc Dung and the Chairman of the PPC Nguyen Phi Long and it was attended by leaders of departments, associations and enterprises. At this conference, the DPI proposed to cut down the processing time of investment procedures and to consider that as one of the important supports for investors in Binh Dinh.


In the upcoming time, Binh Dinh province will continue to promote administrative reform, application of technology in handling procedures related to investment activities. Also, it is important to boost investment promotion in place, supporting licensed projects, reducing difficulties for investors to accelerate project disbursement.