Foreign direct investment in Nghe An reaches all-time high

On the afternoon of November 24, Comrade Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee chaired the regular meeting of November 2022 of the Provincial People's Committee to listen and give opinions on important contents.

Scene of the regular meeting of the Provincial People's Committee in November on the afternoon of November 24. Photo: Pham Bang

At the meeting, the Provincial People's Committee listened to and commented on the Report on foreign affairs results in 2022, directions and tasks in 2023 presented by Deputy Director of the Department of Foreign Affairs Nguyen The Than.

In 2022, international cooperation and integration activities were actively implemented, in line with the new situation, achieving many positive results. The province successfully organized online conferences with the Gifu provincial government (Japan), the Haryana state government (India); established friendly relations with Gwangju city (Korea).

Nghe An Provincial People's Committee has signed a Memorandum of Understanding with the Singapore Manufacturing Federation on investment and trade cooperation to enhance cooperation between the two sides on the basis of equality and mutual benefit.

Comrade Nguyen The Than - Deputy Director of the Department of Foreign Affairs presented the Report on the results of foreign affairs work in 2022, directions and tasks in 2023. Photo: Pham Bang

In particular, the province successfully organized the 60th anniversary of the establishment of Vietnam - Laos diplomatic relations and the 45th anniversary of the signing of the Vietnam - Laos Friendship and Cooperation Treaty. The events aim to enhance cooperation activities in many fields in the coming time with potential partners. This is an opportunity to promote the potential, advantages, and investment policies of the province; create conditions for investors and businesses from other countries to seek opportunities for investment, trade, tourism cooperation, etc. in Nghe An.

Activities to attract investment, trade and tourism have been enhanced. Activities to connect with central ministries, branches, Vietnamese representative agencies abroad and foreign representative agencies in Vietnam have been promoted to promote cooperation, attract investment and trade; attend and introduce the province's potential and advantages in attracting investment, trade and tourism at international conferences; and enhance tourism promotion activities in many forms.

Foreign direct investment (FDI) reached an all-time high, contributing greatly to the province's economic recovery and growth after the Covid-19 pandemic. In 2022, Nghe An entered the top 10 localities attracting the largest FDI in the country for the first time, with a total newly granted and adjusted capital of 935.22 million USD as of November 10, 2022.

Comrade Le Hong Vinh - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee contributed comments to the report. Photo: Pham Bang

Regarding ODA capital attraction, in the first 10 months of 2022, 1 project has had its investment policy approved; 1 project is undergoing investment policy approval procedures; 3 projects are undergoing proposal procedures. Up to now, the province has 11 ODA programs and projects and foreign preferential loans with a total investment of VND 9,620 billion; foreign capital disbursement in the first 10 months of the year was VND 68,694 billion/VND 482,140 billion, reaching 14.25% of the assigned plan.

Total export turnover is estimated at about 2.490 billion USD, up 2.55% compared to 2021, of which, goods export is 2.168 billion USD, up 2.6% compared to 2021. Goods import turnover is estimated at 1.195 billion USD, up 20.2% compared to 2021.

The mobilization and management of aid from foreign non-governmental organizations is carried out closely and effectively; there are 18 projects and 7 non-projects being implemented in the province with a total committed aid capital of 4.09 million USD. In general, the programs, projects and non-projects have high humanitarian significance, contributing to ensuring social security for the people.

Leaders of departments, agencies and sectors attended the meeting. Photo: Pham Bang

Foreign information work is deployed with focus, key points, timely information on foreign affairs work, promoting the potential and advantages of the province. Foreign cultural work is actively deployed, with diverse activities, aiming to promote the land, people and culture of Nghe An to domestic and foreign tourists. Border management work is deployed synchronously, maintaining stability, ensuring security, order and social safety on the land border, sea and islands.

Speaking at the meeting, Chairman of the Provincial People's Committee Nguyen Duc Trung assessed that foreign affairs activities have improved, many traditional foreign affairs activities have been organized, foreign cooperation has served economic development, in which foreign economy has many bright spots.