Unleashing competitive motivation to attract investment.
(Baonghean)As in previous years, the Spring 2013 Investor Meeting was a valuable opportunity for domestic and foreign investors to meet, interact, and learn about investment opportunities and the investment environment of Nghe An province. This meeting was considered particularly important as it reviewed the results of the past five years of investment attraction and clearly demonstrated the province's determination, goodwill, and responsibility towards investors coming to Nghe An.
…After the solemn ceremonies and the warm atmosphere of the Spring opening of the Conference, it seemed that the anticipation, concern, and hope for a truly positive outcome could be discerned on the face of National Assembly Chairman Nguyen Sinh Hung; this was the fifth consecutive time he had attended this annual conference of his home province. And this sentiment was not unique to the National Assembly Chairman; it was also shared by the leaders of central ministries and agencies attending among the more than 600 delegates, including domestic and foreign investors, in the Conference Hall of the Cultural and Conference Center (Vinh City).
On behalf of the leadership of Nghe An province, Mr. Ho Duc Phoc – Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee – informed the delegates about the province's economic and social achievements in the challenging year of the Dragon 2012, especially the results of the annual regular investment contact conference, which began in 2009. The Chairman cited statistics from the past five years as follows: the province has attracted 335 investment projects with a total registered capital of 107,117 billion VND. This investment has contributed to increasing the province's budget revenue from over 3,573 billion VND in 2009 to 5,700 billion VND in 2012. This result also acknowledges the significant contributions of the business community and investors to the economic and social development and poverty reduction of the province.
In fact, through much attention, concern, dedication, and close monitoring and companionship with Nghe An's development over the years, leaders at the central and local levels, as well as businesses, have recognized that with its inherent potential, if effectively utilized, Nghe An will rise strongly and make a worthy contribution to the overall development of the country. The past five years, with efforts to boost investment attraction and exploit the local potential and advantages, despite the less-than-ideal results, continue to be valuable lessons and a driving force for Nghe An to mobilize its collective potential to build upon initial successes, creating important momentum for comprehensive transformation in thinking and action, and soon demonstrating its determination to create a breakthrough in economic development worthy of the attention of the Party and State and the trust and expectations of the people of the province. Efforts to improve the province's investment environment in the coming period will focus on breakthroughs: "Administrative procedure reform, infrastructure investment, and human resource training." This was stated by the Chairman of the Provincial People's Committee to the business community in the assembly hall, a strong commitment stemming from the goal of standing alongside businesses and creating the most favorable conditions for them to invest, produce, and conduct business effectively and sustainably in Nghe An.
Given the clear goodwill of the Nghe An provincial leaders, more than 600 investors felt even more reassured and confident in their decision to invest in Nghe An. The first representative of the business community to speak at the conference was Mr. Tran Bac Ha – Chairman of the Board of Directors of the Vietnam Investment and Development Bank (BIDV). Mr. Ha is a familiar face, having worked closely with the province since its first business meeting. Furthermore, BIDV is a major credit provider for businesses investing in Nghe An. He understands the advantages and disadvantages faced by investors in Nghe An and has unwavering faith in the effectiveness of investment projects if all parties cooperate well.
Listening to Mr. Ha's speech, it became clear that in this businessman's mind, investing in Nghe An was not simply about profit, but also about contributing to the development of President Ho Chi Minh's homeland. "Before 2008, we called Nghe An a difficult land, but now we call it a 'promised land.' Because, to date, with the efforts of all parties, the province has created trust, satisfaction, and a ripple effect among domestic and foreign investors. For us, when investing in Nghe An, besides the business aspect, there is also the desire to contribute to the development of President Ho Chi Minh's homeland." Mr. Ha's speech received resounding applause from the entire hall. Another business representative, Mr. Nguyen Van Loc – General Director of Indochina Group – whose company will soon build a mineral processing plant in Quy Hop district with a total investment of 25 million USD, spoke highly of Nghe An's development potential, such as its mineral resources. During the research and survey process for investment, Indochina Group also received dedicated assistance and advice from provincial leaders and relevant departments.
The delegates also agreed that, through annual investor meetings, the image of Nghe An's investment environment has been increasingly improved and has reached the business community, including foreign investors. Currently, the province has 22 foreign direct investment (FDI) projects with a total capital of over 1.2 billion USD from 10 countries and territories. At the conference, the presence of investors from the United States, Japan, South Korea, and Thailand shows the attractiveness of Nghe An in the eyes of foreign investors through the results of investment projects and the increasing positive information about Nghe An through various channels. Representatives of foreign investors expressed their confidence and satisfaction with the investment environment in Nghe An.
Mr. Lim Jin Ho – Chief Financial Officer of BSE Electronics Vietnam Co., Ltd., a South Korean investor who invested $30 million to build a factory in Nghe An, happily stated: “We received our investment certificate in April 2012, and after only 10 months, our factory will begin production. This is one of the fastest projects to start production in Nghe An. BSE Group highly appreciates the open investment environment, abundant labor resources, and favorable policies of Nghe An in attracting investment.” Also at the conference, an investor from the United States, Dannis Walker, completely captivated the audience with his knowledge of Vietnamese history in general and Nghe An in particular. Dannis is the CEO of VN Nam Dan – Van An Company, which will invest in building a gold, silver, and gemstone processing factory in Nam Dan. This US-based investor aims to successfully build strong Vietnamese brands in the global market. “We are committed to complying with Vietnamese laws and regulations and aspire to a successful business that will contribute significantly to Nam Dan and Nghe An, bringing many benefits to the local people,” Dannis shared.
National Assembly Chairman Nguyen Sinh Hung holds discussions with investors and provincial leaders. Photo: SM
Encouraged by the enthusiasm and dedication of investors towards Nghe An, the Chairman of the National Assembly, speaking at the conference, requested that investors, when investing in Nghe An, must possess determination, intelligence, and courage to achieve both effective production and business results while also carrying within them the affection and determination to build the homeland of President Ho Chi Minh. Therefore, it is necessary to build a harmonious relationship between entrepreneurs and civil servants; between businesses and state management in Nghe An to ensure effective investment.
At the conclusion of the Investment Promotion Conference, the Provincial People's Committee signed agreements to implement 5 investment projects with a total registered investment capital of VND 5,920 billion; and awarded investment certificates to Royal Foods Thailand Co., Ltd. with a total investment of VND 840 billion. The Vietnam Investment and Development Bank (BIDV) signed agreements to provide credit to investors totaling VND 4,127 billion. These impressive figures warmed the hearts of leaders, the business community, and the people of Nghe An; truly encouraging the provincial leadership to resolutely unleash the competitive spirit to attract strong investment. The Nghe An Spring 2013 Investor Meeting has concluded, promising and confidently opening up practical opportunities for the province's socio-economic development to flourish like springtime.
Thanh Duy
