Economic News

11/30 enterprises have report fully on the national information system on foreign investment

According to the Khanh Hoa Department of Planning and Investment, by the end of January 2017, there are 11/30 enterprises in the province which have fully report on the national information system on foreign investment.

Illustrative picture.

These are enterprises outside the economic and industrial zones in the province. Although Khanh Hoa Department of Planning and Investment announced, instructed the registration to create the account, issued the account for businesses but businesses have not fully implemented the updated project information and submit reports on the system. Currently the Department is continuing to urge and remind the companies, at the same time suggesting Foreign Investment Agency to research the support of automatic programming for the prompt FDI enterprises report monthly/quarterly.

Reportedly, the national information system on foreign investment built by the Ministry of Planning and Investment under the direction of the Prime Minister at the Decision No. 48/2009/QD-TTg dated March 31st2009. The system is designed to standardize, computerize the management of FDI’s activities, and establish the national data warehouse of businesses, FDI projects and investment projects of Vietnam to foreign countries; set up collection systems, updated information on FDI’s activities on a national scale. By using the system, investors and FDI enterprises may declare the entire online information on their investment projects before applying for investment certificates. This will support positive for the authorities in examining documents quickly and efficiently. Additionally, FDI enterprises will use the system to carry out the online report for management agencies.

According to the report of Khanh Hoa Department of Planning and Investment, as of January 18th 2017, the whole province has 95 projects with foreign capital investment licensed or registered investment certificates (in which 48 projects in the Management Board of Van Phong economic Zone). Total realized accumulated capital from the beginning of the project so far reached about 633.2 million USD. Particularly in 2016, there are 8 new projects to be granted new investment certificates with a total registered capital of 10 million USD (including 5 projects in economic and industrial zone and 3 projects outside the economic and industrial zones).

Turnover of FDI enterprises reaches 572 million USD, up more than 1.01% over the same period in 2015; export turnover reached 590.6 million USD, submit to State budget is about 8.9 million USD. The number of employees currently working in FDI enterprises is 18,840 people. Also in 2016, the Department has advised the province to recover, terminate the operation of the 4 projects: The projects of Long Sinh seafood processing and food exports Co., Ltd.; LPG storage and loading station of Vietnam LPG Joint Venture Company; Aquaculture Fish farming of Nha Trang Pearl Co., Ltd; Nha Trang Teachers’ Training College – Orienting to establish Khanh Hoa University - BT project of Dewan Vietnam Co. Ltd.

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