A car assembling line of Ford Vietnam in Hai Duong Province. — VNA/VNS Photo

The northern province of Hai Duong has attracted US$128.6 million in foreign investment in the first two months of 2017, up 8.4 times compared to the same period last year.

The provincial department of planning and investment said it has so far granted a licence to seven foreign investment projects with a registered capital of $89.2 million, and adjusted four ongoing ones in the industrial zone, adding another $39.4 million by February.

Hai Duong aims to be among the top 20 competitive provinces in the country by 2020, as per the plan was drawn up to improve the provincial competitiveness index (PCI) in the 2016-2020 period. To achieve this, the province is working to reduce the registration period and the time taken for legislative procedures.

It is also targeting a minimum 1.5-time increase in the number of enterprises in the province and is organising frequent dialogues between authorities and enterprises. All documents and regulations on mechanisms and policies promulgated by the province will have sought and taken into consideration the opinions of the business community.

The province is also promoting investments by large and multinational corporations, and is directing the implementation of administrative reforms, especially with regard to the duties of public officers in facilitating processes related to investment, land, construction, export and import, labour and environment. — VNS