Nghe An named among top 10 localities attracting the highest FDI in the first quarter

Nghe An ranked 10th in FDI attraction in the first 3 months of this year. Graphics: Foreign Investment Agency

In the first 3 months of this year (from January 1 to March 20, 2023), foreign investors have invested in 44 provinces and cities across the country. Bac Giang leads with a total registered investment capital of more than USD 1.1 billion, accounting for nearly 20.3% of the country’s total registered investment capital and increasing 5.2 times over the same period in 2021.

Dong Nai ranked second with 18 new projects, with a total registered investment capital of more than USD 607 million, accounting for more than 11.1% of the country’s total investment capital, and increasing 3 times over the same period.

The next positions (with respective foreign investment capital attracted) are: Bac Ninh (USD 516.65 million), Ho Chi Minh City (USD 497.53 million), Hai Phong (USD 455.47 million), Binh Duong (USD 445.85 million); Quang Ninh (USD 441.82 million), Long An (USD 181.83 million), Hung Yen (USD 169.77 million). Nghe An ranked 10th, attracting 2 foreign direct investment projects with a total registered capital of USD 164.95 million.

In the North Central and Central coast region, Nghe An ranked first among 14 provinces and cities in terms of FDI attraction in the first 3 months of the year. Other places belonged to Thanh Hoa (USD 47.49 million), Thua Thien Hue (USD 22.76 million), Da Nang (USD 13.51 million), Quang Ngai (USD 11.89 million), Ninh Thuan (USD 4 million), Binh Thuan (USD 3.86 million), Binh Dinh (USD 2.18 million), Ha Tinh (USD 1.65 million), Khanh Hoa (USD 1.01 million), Quang Tri (USD 0.3 million), Quang Nam (USD 0.09 million). Quang Binh and Phu Yen provinces have not attracted FDI in the first 3 months of this year.

According to the Foreign Investment Agency, Ministry of Planning and Investment, in Nghe An province, there are currently 132 valid FDI projects, with a total registered investment capital of more than USD 2.737 billion.

In 2022, the amount of newly granted and adjusted FDI in Nghe An reached more than USD 961.3 million, naming Nghe An among top 10 localities attracting the largest FDI in the country for the first time.

Data from the Nghe An’s Provincial People's Committee shows that, from the beginning of this year to March 20, 2023, the province has newly granted (approval of investment policies/issuance of investment registration certificates) 30 projects with a total registered investment capital of VND 4,937.9 billion; carried out 21 times of adjustment of projects, of which adjusting the total investment capital of 9 projects (an increase of VND 497.9 billion); The total new and adjusted capital is VND 5,435.8 billion.

In which, investment in economic zones and industrial parks consists of 4 newly granted projects with a total registered investment capital of VND 4,256.2 billion (accounting for 13.3% of the number of projects and 86.2% of the total investment capital).

Several major newly granted projects in the first quarter of 2023 include the Tho Loc Industrial Park Infrastructure Investment Project (phase 1) in the Nghe An’s Southeast Economic Zone of VSIP Nghe An Co., Ltd., with a total capital of USD 164.6 million (equivalent to VND 3,826.9 billion); Siba Nghe An High-tech Mechanical Factory in Zone C - Nam Cam Industrial Park of SIBA High-tech Mechanical Group Joint Stock Company, with a total capital of VND 320 billion; Nghia Dan export garment factory in Nghia Lam commune, Nghia Dan district of Vietnam Garment Company Limited, with a total capital of VND 225 billion... Nghe An has also adjusted the Investment Registration Certificate for the Automobile Component Manufacturing Project of Nagoya Vietnam Industry Co., Ltd. in WHA Industrial Park. Specifically, its total investment capital is increased by VND 216 billion...