Effectiveness of Japanese investment projects in Nghe An
Among investors coming to Nghe An, Japan consistently ranks as the number one investor with various types of projects, particularly ODA and FDI projects. Nghe An province proactively strengthens coordination and cooperation with JICA, JETRO, the Japanese Embassy in Hanoi, and other Japanese organizations to promote investment, meet with investors, and increase efforts to secure humanitarian aid, non-project assistance, scholarships, etc.
(Baonghean)Among investors coming to Nghe An, Japan consistently ranks as the number one investor with various types of projects, particularly ODA and FDI projects. Nghe An province proactively strengthens coordination and cooperation with JICA, JETRO, the Japanese Embassy in Hanoi, and other Japanese organizations to promote investment, meet with investors, and increase efforts to secure humanitarian aid, non-project assistance, scholarships, etc.
Speaking of the effectiveness of economic relations between Nghe An and Japan, it is necessary to mention ODA projects that Japan has provided to Nghe An, such as the Reproductive Health Care Project worth 10 million USD, the Rural Living Conditions Improvement Project in Nam Dan District worth 15 million USD, specialized credit programs to finance the construction of 40 rural infrastructure projects with a total funding of nearly 329 billion VND, the Provincial and Regional Hospital System Development Project Phase II - Sub-project for the Development of Nghe An Provincial Children's Hospital with a total investment of 141,025 million VND; and the Project to restore and upgrade the North Nghe An irrigation system with a total Japanese ODA loan of 5,700 billion VND.
Mr. Okiura Fumikio, Deputy Chief Representative of JICA, inspects the irrigation system in Nghe An.
Japan not only provides Nghe An with many large-scale ODA projects, but also ranks first among foreign direct investment (FDI) investors in Nghe An with a registered capital of 1,200 million USD: The white stone mining and processing project in Quy Hop by Yabashi Vietnam Limestone Mining Company with a total investment of 10.7 million USD, and the garment export project of MLB Ternery Co., Ltd. of Japan in Yen Thanh Industrial Cluster with a capacity of 1 million products/year and a total investment of 3.75 million USD.
In particular, the sponge iron production plant project of Kobe Steel Company (Kobelco) of Japan in Dong Hoi Industrial Park, with a total investment of 1 billion USD, is currently undergoing procedures for implementation. The province has also signed agreements with Japanese investors to invest in 4 projects with a total investment capital of 25 million USD in Hoang Mai 1 Industrial Park, including: a solar power plant worth 18 million USD, an automotive equipment and parts manufacturing plant worth 3 million USD, a photovoltaic equipment manufacturing plant worth 2 million USD, and a Vietnam-Japan vocational school worth 2 million USD. The province is cooperating with Nekken Sekkei Civil Engineering Ltd. to develop the master plan for Vinh City until 2020 - vision 2030 and with Japan Port Corporation to design the Cua Lo deep-water port.
Currently, Nghe An's export turnover to Japan has reached nearly 5.5 million USD, including products such as wood and wood products worth 2.8 million USD, white stone and construction stone worth 2.2 million USD, and some handicraft products...
In the coming period, Nghe An will strengthen its access to the Japanese market, seeking Japanese partners to export agricultural products, construction materials, and handicrafts. It will proactively establish friendly relations and cooperation with Japanese localities that share many similarities with Nghe An, attracting Japanese investors to invest in garment manufacturing, electronic component production in industrial clusters, and supporting industries and services in the steel sector in Hoang Mai and Dong Hoi Industrial Parks and the Southeast Nghe An Economic Zone through BOT, BTO, BT, and PPP investment models.
Hoang Dang Hao (Department of Foreign Affairs)
