Who are the 6 FDI 'giants' in the technology and electronic equipment sector in Nghe An?
(Baonghean.vn) - According to information from the Southeast Economic Zone Management Board, by the end of 2023, Nghe An attracted 1.6 billion USD, being one of the 10 provinces and cities attracting the best FDI investment in the country.
On December 20, Nghe An completed the licensing procedures for Radiant Opto – Electronics Vietnam Nghe An Factory to enter the VSIP Industrial, Urban and Service Park in Hung Nguyen District. This 120 million USD project has brought Nghe An's total FDI attraction in 2023 to 1.6 billion USD; of which, the capital attracted toSoutheast Economic Zoneis 1.596 billion USD and outside the economic zone is 6.02 million USD.
Nationwide, Nghe An is one of the few localities that has attracted 6 of the world's leading technology corporations in the production of electronic components and equipment to invest and do business. Specifically, these are the "big guys":
+Luxshare Grouphas a total investment in Nghe An of 290 million USD with 2 projects: Luxshare ICT 1 worth 140 million USD and Luxshare 2 worth 150 million USD, in VSIP Nghe An Industrial Park (Hung Nguyen). This group manufactures electronic components with products: Cables for smart electronic devices; voice signal digitization and network transmission devices; signal amplification devices, communication devices; touch pens, lighting, electronic locks, walkie-talkies; smart positioning stamps,...
+Goertech Groupcommitted to invest 500 million USD and phase 1 invested 100 million USD project at WHA Industrial Zone 1 - Nghe An. In 2022, Goertek Group is honored to be in the top 100 best workplaces in Vietnam.
+Foxconn Group, Apple's leading partner, invested in a 100 million USD project in WHA Industrial Zone 1 - Nghe An. This group specializes in manufacturing electronic products for large companies in the US, Canada, China, Finland and Japan. The group has been granted an investment registration certificate to implement a project with an area of 48 hectares in Nghe An.
+Everwin Precision Groupcommitted to invest 400 million USD, of which phase 1 invested 200 million USD in VSIP Nghe An Industrial Park. This project was granted an Investment Registration Certificate by the Southeast Economic Zone Management Board on January 6, 2021, with an area of over 43 hectares. This is a project specializing in the production of electronic components, communications equipment and consumer electronics products.
At the end of November, the Standing Committee of Nghe An Provincial Party Committee approved the investment policy for the Everwin Precision Technology Factory project (Nghe An), the second factory of this group. The project is also invested in VSIP Nghe An Industrial Park, Hung Tay Commune, Hung Nguyen District, on an area of nearly 16.5 hectares, with a total investment capital of 115 million USD (equivalent to 2,806 billion VND), from 100% of the investor's capital contribution.
+JuTeng Groupinvested in a 200 million USD project to build a JuTeng electronic product and auto parts factory in Hoang Mai I Industrial Park, which was granted an Investment Registration Certificate by the Southeast Economic Zone Management Board on December 30, 2021, with an area of over 120 hectares. After nearly 9 months since the issuance of the Investment Registration Certificate, Ju Teng International Group has completed the procedures in accordance with regulations and is currently organizing the construction of the factory. The project will employ about 6,000 - 9,000 workers and is one of the key projects that Nghe An province is calling for investment.
+Sunny Groupinvested in a 150 million USD project in WHA Industrial Zone 1 - Nghe An. The project of Sunny Group specializes in manufacturing, processing, assembling camera modules, screens, smart car lights, smart lighting, processing and assembling photoelectric devices, glass lenses, plastic lenses. The project is deployed on an area of 42.8 hectares, with a designed capacity of 60 million car camera products/year, and 5 million other products/year.
With 6 "big guys" investing in the technology sector, Nghe An in the future promises to be one of the major electronic component manufacturing centers of the country, creating jobs for nearly 90,000 workers.
Nghe An aims to attract 3-3.5 billion USD in the 2021-2025 period and 4.5-5 billion USD in the 2025-2030 period, equivalent to the target of attracting 900 million to 1 billion USD per year. Specifically, next year, in addition to attracting liquefied natural gas (LNG) investment projects in Quynh Lap commune (Hoang Mai town), Nghe An is promoting and completing procedures for a number of other investment projects and the results are very positive.
Over the past two years, Nghe An has implemented the “5 Readinesses” in attracting investment and serving investors. These are: preparing conditions for land; mobilizing and prioritizing resources for investment in essential infrastructure; focusing on improving the quality of labor resources; increasing support for existing infrastructure investors; continuing to substantially improve the investment environment; at the same time, removing 4 barriers and challenges such as lack of clean land; low quality of human resources; limited infrastructure and logistics services, far from centers and development poles...
Mr. Le Tien Tri - Head of the Southeast Economic Zone Management Board said: After attracting 3 reputable and professional investors in industrial park infrastructure business, VSIP, WHA and Hoang Thinh Dat, the province focused on improving the investment environment, accompanying and supporting businesses in completing procedures.
In order to create the best conditions for investors, Nghe An previously "led the way" in terms of planning, such as proposing to adjust and expand the Southeast Economic Zone from 20,776 hectares to 80,000 hectares and orienting to expand to 105,000 hectares; at the same time, prioritizing investment in key infrastructure such as Cua Lo deep-water port (3 berths),Vinh International Airport Upgrade; invest in the construction of connecting a number of transport infrastructure works and logistics service warehouses with industrial parks, seaports, airports, etc. The conditions for attracting investment are more favorable when the Government has approved the planning of Nghe An province for the period 2021-2030, with a vision to 2050.
In 2023, Nghe An will grant 18 new projects with a registered capital of 1,323.38 million USD and adjust 11 projects with a capital of 271.17 million USD for industrial parks in the economic zone. Of the 2 projects outside the economic zone, there is 1 newly granted project worth 4.2 million USD and 1 adjusted project with 1.82 million USD.
