Investment in the Southeast Economic Zone enjoys the highest incentive policies.

(Baonghean) - Nghe An's Southeast Economic Zone is one of the 12 coastal economic zones in the country. Enterprises investing here enjoy the highest preferential policies of the Vietnamese Government.

Recently, at the Investment Promotion Conference held in Ho Chi Minh City with the theme “Nghe An - Investment and Development Opportunities”, Nghe An province as well as VSIP investors brought to domestic and foreign investors an image of Nghe An, dynamic and attractive in attracting investment.

Rich potential, many incentives

To bring the most complete and objective image to investors, the Organizing Committee of the Promotion Conference chose to introduce through the speeches of speakers, fully reflecting all areas of the investment environment in Nghe An.

Speaking at the opening of the program, Vice Chairman of the Provincial People's Committee Le Ngoc Hoa provided investors with a dynamic, attractive and friendly image of Nghe An, emphasizing that the Southeast Economic Zone of Nghe An is one of the 12 coastal economic zones in the country. Enterprises investing here enjoy the highest investment incentives of the Vietnamese Government. In addition, Nghe An has all the favorable factors in terms of transportation such as airports, seaports, national highways, and trans-Asian roads.

“Nghe An has established an Investment Promotion and Support Center. This is the focal point to complete necessary procedures for investors” - Vice Chairman of the Provincial People's Committee Le Ngoc Hoa informed domestic and foreign enterprises, and committed that the province will actively carry out administrative reforms, strongly improve the investment and business environment; and accompany enterprises.

Investors ask questions to Nghe An provincial leaders at the conference. Photo: Thanh Duy

The voice of enterprises directly investing in Nghe An is also the most vivid and objective proof for investors. Mr. Nguyen Chi Toan - Marketing Director of VSIP Vietnam in the Southern and Central regions affirmed the advantages of investing in VSIP Nghe An by making comparisons and analyses such as labor wages being among the cheapest in the country, 10% corporate income tax incentives for 15 years, 4 years of tax exemption, 50% corporate income tax reduction for 9 years, 50% personal income tax reduction, 5 years of import tax exemption...

“VSIP Nghe An has a favorable location, improved infrastructure; enjoys many good incentives; abundant labor with cost savings; land for rent at low prices and reasonable investment costs for customers; available and convenient services and facilities; maximum government support, professional and thoughtful services from VSIP” - Mr. Nguyen Chi Toan said, at the same time affirming that the VSIP Nghe An industrial - urban area is ready for handover when there is an investor.

The analysis of the advantages of the VSIP representative also received high agreement from Mr. Phan Xuan Quy - Deputy Director of Tax Advisory and Business Support Services, KPMG Vietnam Company - the leading auditing company in our country today. According to the KPMG representative, the tax incentives in Nghe An province are very competitive.

Investors discuss on the sidelines of the conference. Photo: Thanh Duy

Chairman of Mavin Group David John Whitehead - an Australian enterprise that has invested in 4 projects, with a total expected investment of 80 million USD in Nghe An, expressed satisfaction with investing in the province.

“Investing in Nghe An is a good choice for investors, because the province not only has a favorable geographical location, synchronous infrastructure, large human resources, but also businesses receive effective attention and assistance from provincial leaders; enthusiastic support from administrative agencies; good quality human resources; good investment incentive and incentive structure” - Mr. David John Whitehead recommended to businesses and investors.

Expect good effects

With preferential policies introduced by Nghe An provincial government and investment consultations from insiders, the Investment Promotion Conference became lively with opinions from businesses for Nghe An province and investors implementing projects in Nghe An.

A representative of a business that is looking to invest in the high-tech sector expressed concerns about local human resources. “Nghe An has talented human resources working in many places, not only domestically but also internationally. If we invest in Nghe An, how can we attract these human resources, especially middle managers, engineers, and high-tech workers from Nghe An who are working abroad?” - this representative asked.

In response, Vice Chairman of the Provincial People's Committee Le Ngoc Hoa said that Nghe An is a land of learning and has many students who have won high international and Asian awards, and many high-quality workers from the province are working abroad and to attract this human resource, the Vice Chairman of the Provincial People's Committee said: "If we want workers to come back to work, we must have the best environment, suitable for their fields. I hope that the government and you will trust in creating that environment". On the other hand, Nghe An province is currently preparing to cooperate with the South Australian department to train Nghe An workers to work in the province...

Road L5 intersects National Highway 1A through the Southeast Economic Zone. Photo: Sy Minh

Another business representative made a very thoughtful assessment that the investment licensing procedures for businesses in the southern provinces are said to be faster. So what does Nghe An do to shorten administrative procedures and support new businesses to invest? In addition, businesses are also interested in environmental management.

Regarding these contents, Vice Chairman of the Provincial People's Committee Le Ngoc Hoa emphasized: Nghe An authorities have strongly reformed administrative procedures and the Chairman of the Provincial People's Committee has signed and issued procedures for investors to access and grasp specific information. According to the assessment of VCCI and the Ministry of Planning and Investment, Nghe An is one of the provinces that has reformed administrative procedures and shortened this time well. There are cases where investment licenses can be granted within 1 day. Regarding the environment, Nghe An province is committed to having extremely strict procedures and management; not trading off the environment for arbitrary development.

Steel production in Hoa Sen Steel factory. Photo: PV

It can be said that Nghe An's investment promotion activities in recent years, especially since the beginning of 2017, have been very active. In addition to the promotion trips to Hong Kong, Australia, Thailand, Korea, etc., the Investment Promotion Conference in Ho Chi Minh City has played a very important role. Thereby, along with the available advantages of a large land area and an abundant source of trained labor, the investment environment in Nghe An is also highly appreciated by many investors in the most dynamic economic region of the country thanks to the open mindset of encouraging growth of the provincial government along with many investment policies and tax incentives.

Thanh Duy