At the conference, numerous investors and businesses raised their concerns, particularly regarding credit loans and administrative procedures.

Nguyễn Cường, Vice Chairman of the Bắc Giang Business Association, said that small- and medium-sized enterprises (SMEs) continue to face significant challenges in accessing credit loans.

Business representatives shared their opinions at the conference. — VNS File Photo

The stringent loan application process, which is time-consuming and often requires collateral, poses a major obstacle.

According to Nguyễn Tiến Đạt, Director of Tấn Đạt Import Export and Trading Co Ltd, businesses are facing difficulties in accessing long-term loans and typically must rely on short-term financing. To address this challenge, entrepreneurs recommend that businesses be provided with long-term loans at favourable interest rates to facilitate their operations.

As for administrative procedures, many businesses reported difficulties in handling investment, land and construction-related processes.

Ngô Văn Khanh, CEO of Bắc Giang Import Export Corporation, highlighted the lack of coordination among regulatory agencies, leading to delays and a reluctance to take responsibility.

Consequently, the complicated procedures involved in obtaining construction permits, operating licences and business licences for foreign enterprises in industrial zones have hindered businesses from commencing operations even after completing their factories within these zones.

Additionally, some companies reported challenges related to land clearance. As most projects do not involve state-led land acquisition, investors must negotiate agreements with landowners, which frequently results in adjustments to the project timeline.

In Bắc Giang’s industrial zones, many enterprises still mobilise thousands of workers to maintain production and fulfil orders during holiday. — VNS File Photo

Several businesses called for policies to support market access and development, specifically by facilitating the creation of investment projects linked to the value chain from production to product consumption.

Lê Ánh Dương, Chairman of the Bắc Giang Provincial People's Committee, addressed and clarified the concerns raised by businesses, expressing his appreciation for their substantial contributions to the province’s economic and social development.

However, many businesses are still facing difficulties due to the impact of the global economic situation and a sluggish real estate market. The implementation of new policies and regulations has also greatly impacted businesses.

He expressed empathy for the challenges businesses face and encouraged them to cooperate with the province as regulations are constantly being updated.

He also said that a portion of the provincial staff is hesitant to take responsibility, leading to work delays. The province is working to address this by improving the work ethic and accountability of civil servants.

According to Dương, Bắc Giang boasts strong infrastructure, particularly in transportation, expanding urban spaces and a significantly improved investment environment with many top-ranking indicators nationwide.

The province continues to attract foreign direct investment and will see the formation of new industrial parks and clusters shortly. These conditions are favourable for investment and business development. The province is also addressing weaknesses in commercial services by attracting major investors in this field.

To address common challenges faced by businesses, the province has tasked relevant departments and the Provincial People's Committee with finding solutions based on newly issued regulations.

For central regulations that are problematic, the province will compile and propose adjustments to higher authorities.

Regarding foreign businesses' concerns about taxes and administrative procedures, Dương asked relevant departments to provide specific answers on each issue.

He instructed the Bắc Giang branch of the State Bank to urge commercial banks to support businesses with loans, prioritising key contributors. For land and construction issues, he tasked the relevant departments with resolving obstacles. He also suggested delegating authority to districts for investment permits in industrial clusters to avoid redundant assessments.

The chairman of the Provincial People's Committee stressed that Bắc Giang will focus on enhancing its workforce, particularly officials managing administrative procedures. He urged departments, agencies, and localities to increase online or hybrid training sessions to guide businesses on regulations and procedures.

He encouraged businesses to join associations to express their challenges and concerns, emphasising that associations should serve as effective intermediaries between businesses and government agencies. He suggested that associations compile and submit businesses' complaints and proposals to the province on a monthly or quarterly basis for timely resolution.