Kon Tum province participates in the Central Highlands Investment Promotion Conference 2024

In carrying out Resolution 11-NQ/TU dated May 16, 2022 of the Provincial Party Committee on improving the investment environment, enhancing competitiveness and increasing investment inflows to Kon Tum province to 2025 and further to 2030, what are outstanding investment attraction achievements of Kon Tum province?

In response to Resolution 11-NQ/TU of the Provincial Party Committee, the Provincial People's Committee has firmly directed sectors and localities to implement effective administrative reform tasks and improve the business investment environment; actively and broadly disseminate the province's investment potential. With these efforts, Kon Tum has attracted large investors and potential corporations to survey and explore investment opportunities such as Sun Group, Intracom Company, Vinaconex Corporation, Vimeco, Alphanam Investment Joint Stock Company and Vi Tri Vang Group Joint Stock Company.

In 2023 alone, the province attracted 13 investment projects (outside industrial parks and economic zones) with a total registered capital of VND2,011 billion, up 35% over 2022 and signed a memorandum of understanding on investment cooperation with three businesses. Kon Tum had 300 new companies in the year which registered to invest VND3,300 billion and 61 new cooperatives, bringing total cooperatives to 285, an increase of 22.84% over 2022.

How has the province worked to improve the investment and business environment as expected by investors? To accompany businesses to overcome difficulties as its working principle, how has the Department of Planning and Investment progressed in administrative reform, especially administrative procedure reform, to help businesses reduce waiting time and investment cost?

With the motto “The government accompanies businesses” and provides the best working conditions for the business community within the framework of the law, the Provincial People's Committee hosts biannual dialogue programs and monthly talk shows with businesses where the province can promptly grasp information and introduce effective actions to tackle obstacles for investors.

In addition, the province has promptly applied fiscal and monetary policies to support businesses in recovering their operations, reduced and simplified procedures regarding investment, land, construction and environment. Sectors and localities have also robustly applied information technology in resolving administrative procedures. Currently, the province has a total of 1,711 procedures, including 1,377 procedures at the provincial level, 207 procedures at the district level, 102 procedures at the commune level, and 25 common procedures of all three levels. To date, Kon Tum has provided 720 full-process public services and 702 partial online public services on the Provincial Administrative Procedure Settlement Information System and integrated 1,377/1,711 administrative procedures into the National Public Service Gateway (reaching 80.5%).

For its part, the Department of Planning and Investment regularly updates and introduces information about local potential strengths and advantages, enabling businesses and investors to capture and learn about investment opportunities. With its effective investment communication, promotion and attraction, the province has initially enticed some strategic, prospective and reputable investors to do business in the locality. Specifically, since early 2023, the department has guided over 60 domestic and foreign businesses and investors in search of support. The department has also actively advised the Provincial People's Committee to establish a working group to learn experiences in investment promotion and attraction in neighboring provinces and has achieved certain results. At the same time, the department has introduced information to local businesses, helping them take part in investment communication, advertising and promotion, attend international fairs and connect information of domestic and international organizations and businesses.

While striving to perform its role as a standing agency of the Steering Committee for Improving the Business Investment Environment and Enhancing Competitiveness, the Department of Planning and Investment also pays special attention to addressing obstacles for businesses and investors by advising the Provincial People's Committee to open the Kon Tum Business Dialogue Conference twice a year and business talk shows every month. The department advises and carries out the resolution of the Provincial Party Committee on improving the investment environment, raising the Provincial Competitiveness Index (PCI) and boosting investment attraction in the province to 2025, with a vision to 2030.  At the same time, the agency actively advises the Provincial People's Committee to work with the Vietnam Chamber of Commerce and Industry (VCCI) to propose new areas of cooperation.

As a result, Kon Tum's business and investment climate has dramatically improved, clearly evidenced by the outstanding growth of the PCI Index. In 2022, the province’s PCI Index scored 64.89 points, ranking 37th out of 63 provinces and cities and climbing 24 places compared to 2021. This was the highest ranking of the province since 2006 (the first year of the PCI Index). The Public Administration Reform Index (PAR Index) and Satisfaction Index of Public Administrative Services (SIPAS) also markedly improved.

According to the 2024 Investment Promotion Program, Kon Tum province advocates attracting capable domestic and foreign strategic investors to survey and explore investment opportunities. How will the department promote and attract investment to make Kon Tum a truly ideal destination for businesses and investors?

Our priority is to further reform and diversify focused investment promotion methods and activities to untap local potential advantages; link the province's investment promotion activities with the country’s investment promotion programs and plans launched by central and local agencies nationwide; speed up information technology application to investment promotion; systematize investment promotion database and professionalize investment promotion publications and documents; promptly provide information on business development support policies and mechanisms, plans, investment projects, infrastructure projects and investment information.

At the same time, the department will focus on effectively carrying out the resolution of the Provincial Party Committee on improving the investment environment, raising the PCI Index and boosting investment attraction to 2025, with a vision to 2030; intensify the inspection of investment documents, with focus to assess project feasibility consistent with the province's development orientation and accurately review the financial capacity and experience of investors; effectively operate 12 investment project management information systems to regularly monitor the progress of licensed projects, warn investors of project progress, make deposits, and urge Investors to comply with the Investment Law.

In particular, to build a fair, transparent and lawful investment environment, the province is also resolutely handling existing shortcomings and limitations for projects where investors do not comply with their commitments. At the same time, the locality is strictly handling individuals and organizations troubling and harassing investors who study and survey investment opportunities. Doing so, Kon Tum will continue to be a safe, attractive ideal destination for investors.

What are the industries and fields that are considered the "pillars" of Kon Tum's economy as well as investment attraction approaches for those key industries and fields in the coming time?

To draw on maximum potential and competitive advantages for socioeconomic development, in the coming years, Kon Tum will prioritize investment resources and sustainable development for four pillars: High-tech agriculture, medicinal herbs, tourism and urban development. To attract investment capital for these four economic pillars, on April 6, 2023, the Provincial People's Committee issued Decision 114/QD-UBND adjusting and supplementing the list of investment projects in Kon Tum province in the 2021 - 2025 period. Accordingly, the province will entice investment funds for 154 projects, including 69 agricultural and forestry projects, 14 industrial projects, 40 office, commerce, services and tourism projects, and 31 urban development investment projects.

Specifically, in agriculture and forestry, the province will attract investment capital for a high-tech pig farm (with a total capital of VND 798 billion) and a high-tech agricultural project in Kon Tum City (VND550 billion).

Regarding urban development, Kon Tum will attract investment funds for large-scale projects such as the new urban area in the western part of Tran Hung Dao Street, Kon Tum City (VND 690 billion), urban - ecotourism projects (VND859 billion), Plei Kan New Urban Area (VND980 billion), and South Toong Dam Lake commercial, service and housing complex (VND685 billion) in Mang Den town, Kon Plong district. Notably, the 273-ha urban, service and tourism complex in Mang Den town is attracting the biggest amount of investment capital, up to VND8,000 billion.

According to the Kon Tum Urban Network Development Planning to 2020 and further to 2025, one of three core areas of urban development is the eastern region where Mang Den ecotourism area is the nucleus, driver of urban development in Kon Plong, Kon Ray and Tu Mo Rong districts. Moreover, all urban areas are also designed to be developed with three main functions: tourism, trade - services and industry. In 2021 - 2025, the province has focused on developing new urban areas along the national border and main traffic axes to create an interlinked urban area chain.

The province desires to attract more private investment funds and create motivation to foster sustainable socioeconomic development, industrialization and modernization. With its red-carpet welcome policy, Kon Tum is open to receive, support and facilitate businesses to make cooperation and investment. This also shows the new aspiration, strong commitment and companionship of the provincial government in enticing capable enterprises and investors to Kon Tum.

Thank you so much!