"Choosing the right person to entrust your money to" in attracting investment
(Baonghean.vn) - With its potential for industrial development and abundant labor and resources, Nghe An has been attracting the attention of many domestic and foreign investors.
Sowing new investment season
For the first time in 2009, with the support of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), the People's Committee of Nghe An province organized a meeting with domestic and foreign investors at the beginning of the New Year to promote and introduce the potential, preferential policies and investment opportunities in the area.
Through this Conference, many investors signed commitments and were granted licenses, including projects that have become typical examples of effective investment in Nghe An such as: Dairy cow farming project and milk processing factory of TH Group; Hanoi - Nghe An Beer Factory...
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| TH Group's dairy farming project and milk processing factory. Photo: PV |
Since then, Nghe An leaders have always paid special attention to the investment sector, considering investment attraction as the key to development and Nghe An still maintains the Spring Meeting with investors with the good meaning of "sowing the new investment season".
Especially from 2016 to now, Nghe An has continuously successfully organized investment promotion events both inside and outside the province and many events abroad, with many solutions and channels to call for investment promotion such as: Organizing investment promotion in Korea, Japan, Thailand; Signing an investment cooperation agreement for the WHA Hemaraj 1 Industrial - Urban Park Project...
The mark of attracting investment to Nghe An after 10 years, especially since 2014, is a completely new look with many dynamic projects. A series of infrastructure works such as traffic systems, airports, seaports, and industrial parks are developing rapidly.
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| The railway overpass on the 72m road axis has been completed and put into use. Photo: Lam Tung |
Vinh City is supported by Japanese experts to re-plan with a strategic vision to 2050, creating the premise for the future to turn this place into a modern, livable urban area of Vietnam with a wide and open traffic system worthy of being a good condition for investors to come.
Many highlight projects
Assessing investment attraction activities, at the 2018 Investor Meeting, Prime Minister Nguyen Xuan Phuc praised the province: "A spirit of creativity, integrity, and action for the development of the country, for the development of Nghe An province, the comrades who researched and implemented it spread from words to actions with a very high determination".
Nghe An has attracted important large projects as a premise for the province's development such as the project to build and operate infrastructure of VSIP Nghe An Industrial, Urban and Service Park, Song Lam 1 and Song Lam 2 Cement Plant, Tan Thang Cement Plant, Hoa Sen Steel Plant, TH Milk Plant, Massan Food Processing Plant, Royal Foods Fish Processing Plant, BSE Electronics Plant, MDF Plant in Nghia Dan; high-class hotels, urban projects, hospitals, large commercial centers...
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| Packing corrugated iron products at Hoa Sen Corrugated Iron Factory (Nghe An). Photo: Lam Tung |
From 2014 to the end of 2018, the province attracted 150 projects with a total investment capital of VND 89,141 billion. Of which, 55 projects have been put into operation with an investment capital of VND 42,868 billion, accounting for 48% of the total registered investment capital, 74 projects with an investment capital of VND 34,428 billion, accounting for 39% of the total registered investment capital. In 2018 alone, Nghe An province newly granted (approved investment policy/issued Investment Registration Certificates) to 114 projects, with a total registered investment capital of VND 9,119 billion.
Some major projects that can create highlights in industrial development include: Massan Beer and Beverage Factory Project in Zone B - Nam Cam Industrial Park (1,661 billion VND); Trung Do Construction Materials Production Complex in Nghi Van Commune, Nghi Loc District (1,025 billion VND); Hai Chau II Confectionery Factory (360.3 billion VND); Biomass Fuel Vietnam Biomass Pellet Factory in VSIP Industrial Park (20 million USD); Em-Tech Vinh Factory in VSIP Industrial Park (11.82 million USD)...
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| Many projects have been completed and put into operation. (In photo: A corner of VSIP Nghe An Industrial Park; Recruiting workers at Em-Tech Factory (VSIP Industrial Park); DKC petroleum depot preparing for inauguration). Photo: Tran Chau - Lam Tung |
Investment attraction has had a great impact on Nghe An's socio-economic development. The growth rate of gross regional domestic product (GRDP) in 2018 increased by 8.77%. GRDP per capita reached 38 million VND. The economic structure shifted in the right direction: The proportion of industry - construction and services accounted for 79.5%. Budget revenue in 2018 reached 13,937 billion VND, reaching 109.8% of the estimate and increasing by 10.3% compared to 2017. Mobilization of social investment capital increased sharply compared to previous years, estimated at 70 trillion VND, increasing by 12.9%. The provincial competitiveness index is currently ranked 21st, leading the 6 North Central provinces, the highest position ever.
Resolutely direct to solve difficulties for businesses
Comrade Le Ngoc Hoa - Vice Chairman of the Provincial People's Committee said that Nghe An's investment attraction has been most strongly implemented since 2014, especially attracting industrial park infrastructure investors and a number of projects of large investors and domestic and foreign economic groups.
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| Vissai Port in Nghi Thiet Commune (Nghi Loc) has the capacity to receive cargo ships of over 70,000 tons. Photo courtesy |
To achieve Nghe An's goal for the 2015 - 2020 period with 100 trillion VND of investment capital, of which FDI is about 50 trillion VND; by 2020, the competitiveness index will be in the top 15 nationwide, Nghe An is focusing on key groups of solutions: Strengthening investment promotion activities to ensure practicality, efficiency, proactiveness, substance, "choosing the right person to entrust" when granting investment licenses; Simplifying and making transparent land access procedures; improving the spirit of serving investors, promoting administrative procedure reform; strengthening the connection of government support for enterprises and resolutely directing the resolution of difficulties, removing obstacles for investors, creating momentum for socio-economic development in the area in the following years.
