Nghe An Southeast Economic Zone with new development momentum
New industrial zones have been increased, infrastructure has been invested synchronously and attracted outstanding investment. Some projects have initially come into operation, promoting very positive effects for economic growth and development, solving many jobs and increasing budget revenue. These factors create positive motivation for the Southeast Nghe An Economic Zone to continue to firmly implement the set goals.
Le Tien Tri
Member of the Provincial Party Executive Committee,
Head of Management Board of Southeast Nghe An Economic Zone
The process of developing and expanding the Southeast Economic Zone into an economic growth engine of Nghe An province in the 2021 - 2025 period is associated with the Government's Action Program to implement Resolution No. 39-NQ/TW of the Politburo on building and developing Nghe An province to 2030, with a vision to 2045. Up to now, in the Southeast Economic Zone and industrial parks of the province, 7 industrial parks have been established, with a total area of 2,388.2 hectares, and an occupancy rate of over 56%; of which, in the 2021 - 2024 period, 4 new industrial parks have been developed, with a total area of 1,454 hectares, accounting for over 60% of the province's industrial park area.
In 2024, in the context of many difficulties in the international, regional and domestic contexts, but with great efforts and concentration with the motto of "accompanying and providing the highest support" to investors and businesses; the investment attraction results achieved outstanding growth: 20 newly licensed projects, total registered capital of 19,875 billion VND and 20 projects with increased capital, total increased capital of 21,891 billion VND. The total newly licensed and increased capital is 41,766 billion VND, reaching 208% of the set target (15,000 billion VND - 20,000 billion VND), accounting for 68% of the total registered investment capital in the whole province.
Attracting foreign direct investment (FDI) continues to be a bright spot, with 15 newly licensed projects and 14 projects with increased capital. The total newly licensed and adjusted capital reached nearly 1.75 billion USD. With that result, Nghe An continues to be in the top 10 provinces and cities with the highest FDI attraction in the country for 3 consecutive years (2022, 2023 and 2024).
Most FDI projects are located in industrial parks in the Southeast Economic Zone, with 98 projects, accounting for over 66% in quantity and total registered investment capital of 5.36 billion USD, accounting for over 92% of the total investment capital of the whole province. In 2024, 16 more enterprises will come into operation, with a total of 157 enterprises in operation to date, with revenue of 77,219 billion VND, an increase of 30% compared to 2023. Exports of 1.8 billion USD, an increase of 62% compared to 2023, accounting for 56% of the total export turnover of the whole province; Imports are estimated at 2.13 billion USD, an increase of 129% compared to 2023; accounting for 96% of the total import turnover of the whole province. Contribution to the State budget is estimated at 2,208 billion VND. Creating jobs for nearly 46,500 workers. Average income of workers reaches 8,198,000 VND/month, an increase of 6.0% compared to 2023.
The above results are the result of the continuous efforts of the provincial leaders, all levels, sectors and localities with the leading and key role of the Southeast Economic Zone Management Board. Implementing the province's motto of "5 readiness" (planning; investment site; essential infrastructure; human resources; reform, promotion and active support), enterprises and investors coming to Nghe An always receive enthusiastic support and high responsibility from the time of research, project proposal, investment procedure settlement, to project implementation and production and business activities.
In 2025, the Management Board of Southeast Nghe An Economic Zone will focus and make the greatest effort to complete the highest targets of the 5-year socio-economic development plan (2021 - 2025) and the Resolution of the 19th Provincial Party Congress for the 2020 - 2025 term. Some key tasks and main targets to be achieved are: Completing the approval of 5 - 7 zoning planning projects of industrial parks and functional areas according to the overall adjustment of the General Planning for Southeast Economic Zone construction to 2040; Establishing 2 - 4 new industrial parks with a scale of about 900 hectares; Attracting investment of about 20 - 25 projects, with a total registered investment capital of about 20,000 - 25,000 billion VND; of which, FDI investment capital is over 1,000 million USD; Budget revenue in economic zones and industrial parks reaches 3,000 - 3,500 billion VND; New jobs are created for about 40,000 workers.
The project to expand the Southeast Nghe An Economic Zone is being appraised by the relevant Ministry to submit to the Prime Minister for approval in early 2025; accordingly, the total area of the Southeast Nghe An Economic Zone will be expanded to 104,270 hectares (93,320 hectares of land and 10,950 hectares of sea surface) in 10 districts, towns and cities (with 30 to 32 industrial parks).
The Management Board of the Southeast Economic Zone together with departments, branches and localities continue to synchronously implement solutions to attract investment, effectively accompanying businesses and investors. The overarching goal is to focus on building and developing the Southeast Nghe An Economic Zone to truly become the driving force for economic growth of the province.
Investment attraction has shifted strongly from traditional partners (Japan, Korea, Thailand, Singapore) to new partners in the Chinese market (including Hong Kong, Taiwan), focusing on the production of electronic products, optics, auto parts and some green products (solar panels, high-performance batteries, etc.). A number of technology corporations in the global value chain have built production facilities in the Southeast Economic Zone such as: Luxshre ICT, Goertek, Foxconn, Sunny, Everwin, Juteng, Radiant, Innovation Precisen, Runnery... with high investment value, large production capacity and rich and diverse market scale.
The Southeast Economic Zone Management Board focuses on mobilizing resources and accelerating investment progress, completing the technical infrastructure system and attracting secondary investment projects, striving to rapidly increase the occupancy rate of industrial parks. Actively coordinate with local departments and branches to effectively implement the motto "5 ready", promoting the effectiveness of the model "One focal point - One door on the spot" in attracting investment.
On that basis, the Management Board of Southeast Nghe An Economic Zone continues to apply information technology in management and operation; digitize the database on planning, investment, land, environment, and labor in economic zones and industrial parks. Promote investment attraction but maintain the province's viewpoint of not trading off the environment, prioritizing investment attraction in new technology and high technology fields, capable of participating deeply in the global supply and value chain, creating high added value, having a spillover effect on socio-economic development.
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