With a relatively favorable geographical position, diverse development potential and with an appropriate investment attraction strategy, Binh Dinh is gradually asserting itself as one of the dynamic localities in economic development, of which marine economy is a significant strength of the province.

In line with the current strong development cooperation, leadersship at all levels of the provincial government in general and the Department of Planning and Investment (DPI) in particular have made their best effort to innovate the operating institutions, and the implementation of the one-stop-shop, one-stop-shop mechanism in handling administrative procedures is considered as a key task.

As a result, in the past year, several positive results have been achieved:

- For domestic investment attraction: the province has attracted 93 investment projects with total capital of over VND 104,340.19 billion (decreasing 40% in the number of projects, increasing 102.22% in total attracted capital compared to the year 2020). Of which: 66 projects outside economic zones and industrial zones with total investment capital of VND 95,461.22 billion (22 projects in Industrial Clusters, total investment capital of VND 266.74 billion); there are 27 projects in economic zone (EZ) and industrial parks (IPs) with total capital of VND 8,878.97 billion. Also, 11 projects registered to raise their capital with a total increase of VND 27,121.9 billion.

- With regard to foreign investment: In 2021, the whole province attracted 4 FDI projects with a total capital of USD 80.34 million.

7 projects increase capital with a total increase of USD 32.23 million and 8 turns of foreign capital contribution, purchase of shares, capital contribution with a total capital of USD 17.8 million. One project, the Gold Garment Factory project of Longmate Holdings Joint Stock Company terminated the operation.

Cumulatively, the province currently has 86 FDI projects with a total registered capital of USD 1,088 billion, of which there are 38 projects in EZ and IPs with a total registered capital of USD 843.35 million USD and 48 projects outside EZ and IPs with a total registered capital of USD 245.56 million.

Also in 2021, about 1,000 new enterprises were established with a total charter capital of approximately VND 12,500 billion. At present, about 8,200 enterprises are operating in the province.

To achieve such good results, DPI and the provincial agencies have made great efforts during the Covid-19 pandemic with the motto of both fighting the epidemic and developing the economy, stabilizing production and investment - business, including administrative reform, especially investment administration.

In the past time, administrative reform has always been paid special attention and the leadership has provided transparent, flexible and comprehensive direction to accelerate the reform process and fulfill the socio-economic growth targets, and gradually meet the development needs and drastically improve the investment environment, step by step remove difficulties and obstacles in investment, production and business activities of enterprises.

With the high consensus of concerned departments and localities, Binh Dinh has proactively reduced the time to process investment procedures from 32 days to 25 days and considers this as one of the practical support for investors in Binh Dinh. This reduction has been supported and appreciated by the Ministry of Planning and Investment.

In addition, the Chairman of the Provincial People's Committee has established the Investment Promotion and Support Working Group with the main task of promoting and supporting investors and businesses investing in the province, quickly solving the problems arising in the investment process. The Working Group has proposed to amend and supplement a number of regulations, mechanisms and policies to create a more open and attractive investment environment; step by step create breakthroughs in attracting investment to the province and mobilizing investment resources to improve the infrastructure system, especially infrastructure in Nhon Hoi Economic Zone, Becamex VSIP Industrial Park; transport infrastructure, tourism infrastructure...

In the administrative reform work, up to now, the Department and District Competitiveness Index (DDCI) has been basically completed. DDCI is a set of indicators to assess competitiveness at departmental, sectoral and local levels in various aspects in term of differences in economic management capacity, improvement of investment and business environment. This is considered a dual set of indicators that evaluates agencies in the province and is one of the new directions to improve the current Provincial Competitiveness Index (PCI).

In the upcoming time, DPI commits to continue to coordinate with relevant agencies to propose solutions to promote administrative reform, creating more favorable conditions for businesses, improving business environment and enhancing the competitiveness of the province. The administrative procedures are highly publicized, with priorities given to business registration, investment certification, construction licensing, land allocation procedures... Specific responsibilities of each officer, each agency, the working style are improved to create the most favorable conditions for investors. The rate of organizations using online public services at level 3 and 4 is raised.

In addition to the administrative reform, DPI is determined to provide specific support to each investor of large projects. In the immediate future, supporting key projects with large investment capital such as: Offshore wind power project of PNE Group (Germany); coating and thin film technology factory of Kurz Group (Germany), Becamex VSIP Binh Dinh Industrial Park and Service Center of Becamex IDC, High-tech Agriculture project of Truong Hai Group , Hai Giang tourist area, Vinh Hoi tourist area... 

To prepare for the investment capital flow, DPI will actively innovate the way of attracting investment in order to adapt the investment promotion work in the new situation. Focus is put on attracting projects in industry - information technology - hi-tech agriculture - trade and tourism. Priorities are given for important fields such as: heavy, large-scale and high-tech industrial production projects; manufacturing and information technology projects; hi-tech agriculture, agricultural, forestry and fishery processing; renewable energy projects; tourism resort projects,...

In previous years, the administrative reform of the province was assessed as still inadequate. The coordination among sectors and localities was not sufficient; the inspection and examination at enterprises was duplicated. Transparency in accessing information was not good, especially in accessing administrative procedures related to land, investment, construction and environment. Those factors have significantly affected the socio-economic development tasks of the province.

Therefore, it is important to improve the quality of direction and administration of administrative reform, regularly monitor, inspect the implementation and the responsibilities of the heads of agencies and departments. Reform of administrative procedures shall be in all fields, especially directly related to investment, production and business activities.

With solidarity, synchronous solutions and strong commitments of all authorities, cadres, civil servants and related officials, it is believed believe that the administrative reform, capacity improvement and  competition for Binh Dinh province, investment promotion and attraction are expected to achieve more important results because administrative reform is creating breakthroughs for driving of the province's socio-economic development.

Currently, the processing of investment documents involves many agencies and units, so DPI is looking forward to receiving active coordination of the agencies in the near future to enhance the role of concerned agencies in administrative procedure reform in particular and the province in general.