- Green Growth
- Your Consultant
QTSC general director Chu Tien Dung tells VIR’s Minh Thien about its investment attraction strategy.
What do you think of Vietnam’s investment environment?
|Mr Chu Tien Dung|
The investment attraction results in the first eight months of this year reported that the number of new foreign invested projects in Vietnam grew 41 per cent compared with the same period of 2009.
This also demonstrates the recovery trend of foreign investment in high-tech, information and technology (IT) fields. Some IT giants are looking for opportunities in Vietnam to reduce production costs and increase their competitiveness. Vietnam has a low-cost workforce whose professional skills are enhanced step-by-step while technical infrastructure, investment policies and laws are gradually being completed.
In the IT sector, alongside continuing to develop outsourcing centres, we see more research & development projects coming to Vietnam from high-cost labour countries.
What is the QTSC doing to attract big brand names in the high-tech sector which require available and completed infrastructure and services?
Available infrastructure is QTSC’s important objective so we have completed technical infrastructure within the centre, including stable power supply, external transport, clean water system, wastewater treatment facility and others.
We have also finished telecom and high-quality internet systems which are multidirectional connections in and out of Vietnam. Furthermore, accommodation for staff, welfare constructions, banking services and post that contribute to make business more convenient now are all ready at the QTSC.
To support QTSC’s business community, we have set up an one-door service centre for registration, issuing licences and other administrative procedures relating to tax, customs, import and export, issuance of visas and residence cards for foreigners working in Vietnam.
We are also supporting investors in regard with labour issues so that they can recruit workers easily, quickly implement their investment projects and effectively do business in the park.
Finally, the QTSC is committed to meeting all investors’ requirements by applying clearer and more transparent investment policies.
Do you have any advice for other concentrated software parks nationwide to help them to resolve their challenges and attract more investors?
At first, the biggest challenge of any investor is administrative procedure and their understanding of applying tax policies. Those problems need to be resolved as soon as possible. The second one is procedures relating to importing and exporting mechanical components to serve outsourcing and software manufacturing. In fact, some investors are entangled with these complicated procedures.
What are the advantages for investors joining the QTSC?
We offer investors with many advantages as mentioned. Besides, in the future, when the decree on concentrated information and technology parks is passed, it will create more preferences for investors within the QTSC.
What are QTSC’s investment attraction results within the first nine months of this year and your predictions for the following months?
We attracted 15 new investment projects between January and September this year. Hence, the number of existing companies within the QTSC is 101. The point is that there are more international companies coming and investing, and then bringing their well-known brand names in the park.