Expedite the progress and effectiveness of agreements and investment projects after signing.

(Baonghean)Following the investment promotion conferences and investor meetings held at the beginning of the year, the number and scale of investment programs and projects in Nghe An province have increased rapidly, contributing positively to the province's socio-economic growth and development. On the occasion of the Spring Quy Ty Investment Promotion Conference and Investor Meeting, a reporter from Nghe An Newspaper had an interview with Mr. Ho Duc Phoc - Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee.

Comrade Ho Duc Phoc - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, visits a garment factory in Anh Son - Photo: SM

PV:Could you please tell us about the significance and results of the Investment Promotion Conference and Investor Meeting in Nghe An after four editions?

Comrade Ho Duc Phuoc:The Investment Promotion Conference and Investor Meeting in Nghe An is held annually at the beginning of spring, an initiative of three co-organizing agencies: the People's Committee of Nghe An province, the Party Committee of the Central Business Bloc, and the Vietnam Investment and Development Bank (BIDV).

Since its first edition in 2009, the conference has been held for the fifth consecutive time, aiming to introduce and promote the province's potential and strengths in order to attract investment and facilitate the implementation of projects in Nghe An. Through these conferences, the image, culture, land potential, mineral resources, human resources, geographical location, infrastructure, and comparative advantages of Nghe An have become known to domestic and foreign investors. After four conferences, 39 investment cooperation agreements have been signed, securing 43 projects with a total registered capital of VND 54,434 billion, including 40 domestic investment projects with VND 52,864 billion and 3 foreign direct investment projects with VND 1,570 billion. Investment projects are concentrated in the fields of industrial production, commercial centers, real estate, tourism, education, healthcare, processing, and livestock farming.

Following the conferences, Nghe An province actively coordinated with the Party Committee of the Central Business Bloc, the Vietnam Investment and Development Bank, and businesses with signed projects to organize implementation. The People's Committee of Nghe An province directed departments, agencies, and localities in the province to monitor, coordinate, and support investors in implementing the signed agreements. With the efforts of businesses and investors, most projects and agreements have been implemented promptly and on schedule. Notable examples include breakthrough projects with large investment scales and high technology, such as: the Kobe Steel Group of Japan's project to invest in a sponge iron plant in Dong Hoi Industrial Park with a total capacity of 2.4 million tons/year and an estimated total investment of 1 billion USD; and a series of projects financed and advised on by Bac A Bank, including projects already in operation such as the TH industrial-scale concentrated cattle farming and milk processing project. Several projects are in the investment phase: Tan Thang Cement Project; Greenhouse vegetable and flower cultivation project… Saigon Beer, Alcohol and Beverage Corporation (SABECO) has also invested in two projects including Saigon Beer - Song Lam Factory and Sabeco Packaging Factory. Hanoi Beer Corporation has invested in Nam Cam Beer Factory with a capacity of 50 million liters/year… These beer production and processing projects, once operational, bring thousands of billions of dong in tax revenue to the provincial budget each year. The Vietnam Oil and Gas Group and its member units have also invested in 19 projects in Nghe An province with a total registered capital of 16,800 billion VND, many of which have proven effective and transformed the province's appearance, such as the Hua Na Hydropower Plant and the Twin Towers. The Vietnam Cement Industry Corporation has also registered to invest in 4 projects, of which 2 are currently being implemented: the Dong Hoi non-fired brick production project, the Dong Hoi transport port, and the Hoang Mai 2 cement plant with a capacity of 4.5 million tons/year…

It can be said that the annual Investment Promotion Conference and Spring Meeting of Businesses has created a new impetus for investors to seek investment opportunities in Nghe An, contributing positively to increasing the number and quality of investment projects in the province. To date, 594 projects have been granted valid investment certificates, including 557 domestic investment projects with a capital of VND 168,849 billion; and 37 foreign direct investment (FDI) projects from 10 countries and territories with an investment capital of USD 2,071 million…

Electronic component production line at Electronics Co., Ltd.
BSE Vietnam

PV:Through the annual Investment Promotion Conferences and meetings with investors held at the beginning of the year, the implementation of projects and programs following the signing of agreements has had a positive impact, creating clear changes in the socio-economic situation of the province. Could you please elaborate on this?

Comrade Ho Duc Phuoc:From 2009 to 2012, investment-attracting projects contributed significantly, accounting for 46.8% of total social investment (VND 42,578 billion/VND 90,940 billion), helping to maintain an average annual economic growth rate of 9-10%. Investment attraction contributed to the shift in economic structure towards modernization: reducing the proportion of agriculture, forestry, and fisheries from 28% in 2009 to 26.6% in 2012, reducing the proportion of industry and construction from 33% in 2009 to 31.95% in 2012, and increasing the proportion of the service sector from 37% in 2009 to 41.41% in 2012. Local budget revenue increased by an average of over 1,000 billion VND annually during the 2009-2012 period (from 3,436 billion VND in 2009 to 6,310 billion VND in 2011). In 2012, despite economic difficulties in production and business activities, budget revenue still reached 5,692 billion VND, with revenue from production and business increasing by over 20%. On average, investment projects that came into operation each year attracted more than 11,000 workers, bringing the total number of jobs created throughout the province to 24,000-25,000 people. Investment promotion has created important resources contributing to the economic and social development of the province.

Through the influx of investment capital over the years, in addition to contributing to the province's economic development, many businesses in Nghe An have also actively participated in social welfare support activities. In particular, numerous agreements on social welfare support have been signed at various conferences. Between 2009 and 2012, businesses investing in Nghe An contributed over 190 billion VND to social welfare programs in the area, making a significant contribution to poverty reduction. In particular, support has been primarily focused on near-poor districts under the National Target Program on New Rural Development for the period 2010-2020, with a focus on healthcare, education, housing for the poor, and community cultural facilities. Some exemplary businesses in supporting social welfare include: BIDV, which supported 29 programs with a total committed budget of over 83 billion VND, of which 23/29 programs have been completed, and 6 programs are in the process of final accounting and implementation; the Vietnam National Petroleum Group and its member units sponsored over 70 billion VND, including programs to build solidarity houses, schools, health stations, cultural and sports centers, and some transportation infrastructure projects in mountainous districts; and the Vietnam Cement Corporation, which supported 26 billion VND for building houses for poor households and developing infrastructure in mountainous areas. The State Capital Investment and Business Corporation, Vietnam Railways Corporation, and Vietnam Multimedia Communications Corporation provided 12 billion VND to Que Phong district to demolish 1,747 dilapidated houses in 13 communes; Vietnam Maritime Corporation supported Tuong Duong district with 17 billion VND to build 4 new health stations, 3 secondary schools, and a steel bridge across Cua Rao...

PV:To ensure that the Spring Investment Promotion Conference and Business Meeting truly has a positive impact on socio-economic development and the exploitation of the province's potential and strengths, what investment attraction strategies will Nghe An implement in the coming period, Comrade?

Comrade Ho Duc Phuoc:We recognize that attracting investment is crucial for Nghe An to become a prosperous province, especially attracting large-scale projects with modern technology, minimal environmental pollution, and those that align with Nghe An's potential and strengths. Based on this orientation, the tasks that need to be focused on are:

- Continue to significantly improve the province's investment and business environment in a way that is open and favorable to investors, focusing on administrative procedure reform (especially effectively implementing the one-stop shop and integrated one-stop shop mechanisms in resolving investment procedures); strengthening investment in infrastructure, transportation, communication, international border gates, etc.; training human resources; accompanying businesses to promptly resolve difficulties and obstacles, and establishing consistent mechanisms for supporting investors.

- Continue directing departments and agencies to create favorable conditions for businesses during the investment process and to ensure the fulfillment of commitments; strengthen close coordination between investors and relevant agencies, create favorable conditions, provide timely support, and quickly resolve procedures according to regulations; promptly complete procedures for granting land use and exploitation rights for related projects; support compensation costs for land clearance for projects that have been committed to investment by the Provincial People's Committee; issue land use right certificates; and facilitate businesses in borrowing capital from BIDV…

- Conduct a review and inspection of the activities of investors who have signed contracts, categorize investors to provide timely support for ongoing projects, and handle stalled projects to free up land for attracting new potential investors.

- Closely coordinate with BIDV and the Party Committee of the Central Business Bloc to decisively implement the signed agreements.

PV:Thank you, comrade!

Huu Nghia (Compiled)