Innovation in investment promotion – the key to effectively attracting investment in Nghe An

PV: Dear Vice Chairman of the Provincial People's Committee, although production and business around the world have been severely affected by Covid-19, investment attraction has also been strongly affected. However, Nghe An has still achieved many successes in terms of the number of projects registered in the area. Could you please tell us the latest results in attracting investment in our province?

Comrade Le Ngoc Hoa:In 2020 and the first quarter of 2021, although the domestic and world socio-economic situation faced many difficulties due to the impact ofCovid-19 pandemicHowever, with the initiative, determination, and high concentration in the direction and management, the Provincial Party Committee, the People's Committee of Nghe An province, and departments, branches, and sectors, together with investors, businesses, and people, have well implemented the "dual goal", achieving many positive results. One of the bright spots of Nghe An province in 2020 is the results of investment promotion and attraction.

In 2020,Southeast Economic Zoneattracted 24 projects, increased capital for 17 projects. The total newly registered and increased capital reached 14,289.2 billion VND/plan 10,000÷15,000 billion VND, up 75.8% over the same period in 2019. Of which, the total newly registered and increased FDI capital in 2020 was 358.28 million USD. In the first 3 months of 2021 alone, the Southeast Economic Zone also attracted 1 FDI project with a total registered capital of 200 million USD.

Groundbreaking ceremony of Goertek Factory project in WHA Industrial Zone 1 - Nghe An. Photo: Pham Bang

As of April 2021, Nghe An has attracted 253 investment projects with a total registered capital of VND 69,907 billion (equivalent to USD 3.02 billion), including 48 FDI projects with a total registered capital of about USD 1.09 billion. Large projects and large international brands such as Luxshare-ICT, Goertek, Everwin USA, Juteng, etc. have come to learn about and invest in Nghe An, contributing to building the brand for Nghe An province in taking shortcuts and leading the wave of investment shift...

PV: To live with Covid-19 and achieve high results in attracting investment, what important breakthrough solutions has Nghe An had, comrade?

Comrade Le Ngoc Hoa:Firstly, closely follow the direction of the Central and Provincial Party Committees,People's Committee of Nghe An provincehas been proactive, determined, and highly focused on building and perfecting institutions to improve the province's investment and business environment, with the focus in 2020 being on building, amending, and supplementing policies and mechanisms on land price lists, increasing access to land, policies and mechanisms on investment support, contributing to removing bottlenecks and bottlenecks for investors and businesses when coming to learn about and invest in Nghe An.

Accordingly, the Provincial People's Committee has directed the Southeast Economic Zone Management Board, the Department of Natural Resources and Environment and relevant departments and branches to advise the Provincial People's Committee to submit to the Provincial People's Council for approval of the Industrial Park Land Price List in the Southeast Economic Zone for the period 2020-2024 at the 17th session of the Provincial People's Council on December 13, 2020. Currently, the Provincial People's Committee has issued Decision No. 05/2021/QD-UBND dated January 14, 2021 on amending and supplementing the land price list of industrial parks in the Southeast Economic Zone for implementation.

Provincial leaders took souvenir photos with investors after the groundbreaking ceremony of Goertek Vina Factory at WHA Industrial Zone 1 - Nghe An. Photo: BNA Document

Regarding investment support policies, the Provincial People's Committee has directed the Department of Planning and Investment and the Southeast Economic Zone Management Board to continue to advise on amending and supplementing investment support policies for investment projects in the province to suit the reality and meet the requirements of attracting investment in the current period, especially the mechanism for stabilizing land prices for the entire operation period of the project, the mechanism for mobilizing advance capital from investors to build infrastructure, the mechanism for supporting investment in key projects (industrial park infrastructure, seaport infrastructure) and supporting human resource training.

Nghe An's transport infrastructure, airports and ports are being strongly improved. Photo: Document

Second, the approach to investment promotion and support in Nghe An province has been positively innovated. Accordingly, Nghe An province has determined that investment attraction must be implemented with focus and key points, with the investment attraction poles being the three strategic infrastructure investors VSIP, WHA and Hoang Thinh Dat. These three infrastructure investors with synchronous and modern industrial parks will be the connection point, leading the wave of investment shift to Vietnam in general and Nghe An in particular, and directly to the Southeast Economic Zone.

Third, the work of supporting and resolving recommendations and difficulties for investors and enterprises continues to be of interest to Nghe An province and is being implemented effectively. Accordingly, the province has directed departments, branches, sectors and localities to clearly identify investors and enterprises as the center and service partners. Departments must always proactively accompany investors and enterprises to grasp information, promptly advise on removing difficulties, and create the most favorable conditions for investors.

Fourthly, Nghe An province stands side by side with investors and enterprises in the process of working with central ministries and branches to gradually remove bottlenecks in mechanisms, legal policies, and at the same time mobilize all resources to invest in building and completing the infrastructure system in a synchronous and modern direction.

Accordingly, with the Government's issuance of Decree No. 148/2020/ND-CP, bottlenecks in land and investment policies have been gradually removed. Investment projects in infrastructure construction and business in the Southeast Economic Zone such as Hoang Mai I Industrial Park, WHA Industrial Park Phase 2 have been approved by the Prime Minister in principle. Along with that, investors such as VSIP, WHA, Hoang Thinh Dat are continuing to survey, research and propose to expand new projects such as: VSIP 2, WHA 2, Hoang Mai 2, etc., contributing to creating more industrial land funds, preparing the best conditions for infrastructure so that Nghe An province is ready to welcome new investment waves.

VSIP Nghe An Industrial Park is flourishing. Photo: Tran Chau

Fifth, with the great efforts of the entire political system in administrative reform and improving the investment and business environment, Nghe An province in general and the Southeast Economic Zone in particular have gradually formed a truly attractive destination in attracting investment in the region.

The province believes that, with the right direction and high determination, in the coming time, Nghe An will be one of the attractive and reliable destinations for investors and businesses both domestically and internationally.

PV: Thank you, comrade.