Recently, Associate Professor Dr. Nguyen Hong Son – Deputy Head of the Central Economic Committee – granted Nghe An Newspaper an interview regarding the new points of Resolution No. 39-NQ/TW on building and developing Nghe An province, issued by the Politburo on July 18, 2023.
Among the many new points analyzed by Associate Professor Dr. Nguyen Hong Son, there is one point, also one of the important solutions that he believes will help Nghe An province develop in the coming period. That is: “The Politburo's issuance of Resolution No. 39-NQ/TW is an important basis for building the province's development plan, in line with the regional and national development plans. This will help open up new development spaces, unify new development spaces for the province's development, help maximize its potential and advantages, and help attract all resources for development.” To further clarify this new point, he suggested: “We all know that if we have good planning, we will have good projects. And if we have good projects, we will have good investors…”
Reflecting on the idea that "if we have good projects, we will have good investors" in the opening statement by Associate Professor Dr. Nguyen Hong Son, one can understand that one of the reasons why Nghe An province, despite its efforts over the years, has not developed as expected is because it lacks many good projects and good investors!
Going back in time, in Nghe An province, for a long period, after the Lunar New Year, conferences were held to meet with investors. The organization of these conferences, true to the motto "rolling out the red carpet for investors," was very solemn, very enthusiastic, and truly a grand celebration. Looking at the province as a whole, it's clear that not only within the Southeast Economic Zone, but also in central cities like Vinh City, Cua Lo Town, Thai Hoa Town, and even in districts along National Highways 1, 48, and 7, there were projects of all sizes, and naturally, investors were present everywhere. However, to be honest, there weren't many good projects, and naturally, not many good investors!
In central areas like Vinh City and Cua Lo Town, numerous new urban development projects are underway. Anyone who has read the developers' presentations will find them very appealing, promising future living spaces and creating beautiful urban landscapes. However, most of these urban projects have not lived up to expectations. In fact, they have left negative consequences for land and house buyers, for society, and for the government and relevant authorities. A prime example is the Minh Khang complex project in Nghi Phu commune, Vinh City, which includes a hotel, supermarket, pharmaceutical and medical supplies store, and residential housing. After numerous inspections and investigations, the developer was arrested and detained pending trial on charges of defrauding customers; and the project, once envisioned as a highlight of northern Vinh City, is now a mixed-use residential area with poor infrastructure.
Looking back at the midland and mountainous districts, there is a huge asset: hundreds of thousands of hectares of forest land that are currently unforested. Prior to 2018, this vast asset had already been used by investors for projects primarily aimed at planting timber forests. It must be acknowledged that if these hundreds of thousands of hectares of unforested forest land were used as committed to planting timber forests, it would have made a significant contribution to the province's budget over time. However, the reality is that more than enough time has passed to prove that these projects are ineffective. Several projects have been revoked because effectiveness requires actual planting of timber forests, but in reality, very little of the unforested forest land that was planned and allocated to investors has actually been used for planting forests!
Regarding the field of tourism development, there is a project in the semi-mountainous area of Thanh Chuong district that has been nationally renowned since its inception. This is the Cau Cau Mixed-Use Tourism and Resort Area project, invested by the Construction Corporation No. 4 – JSC (Cienco4). Its nationwide fame stems from the fact that in 2017, the Tea Island area in Thanh An and Thanh Thinh communes, where the project was planned, was likened to a "Ha Long Bay on land." Furthermore, with a total investment of 1,532 billion VND in 2017, this was a very large sum for a tourism project. But what were the results? Cienco4 planned the project in five phases, with the final phase scheduled for October 2022; yet, to this day, the investor has not constructed a single building!
Also contributing to tourism development, in the Cua Lo coastal area, there is Lan Chau Island, once praised as the "Pearl Island." Because of its rare and beautiful seascape, King Bao Dai once had the Nghinh Phong Pavilion built there so that he could visit and admire the scenery during his tours through Nghe An. Following the path of "attracting investment," Lan Chau Island became part of the so-called Lan Chau – Song Ngu Eco-tourism, Resort, Sports, and Entertainment Complex Project, invested in by Song Ngu Son Joint Stock Company. Sadly, instead of respecting the natural landscape, the project's investor aggressively constructed a series of buildings, resulting in the concretization of large areas of the island and surrounding rocky beaches. Naturally, this construction was against the plan and was subsequently halted by authorities, who conducted inspections to clarify the situation.
Returning to the idea that "if we have good projects, we will have good investors...", the suggestion from the Deputy Head of the Central Economic Committee – Associate Professor, Dr. Nguyen Hong Son – serves as a reminder. When there are "good projects," many investors will register to participate. Among these many investors, to put it simply, there will be both good and bad ones. Separating the bad and choosing the good is not a simple matter. And this requires returning to the perspective of the managers.
The old folk saying, "If you make a phoenix, you dance; if you make a mythical creature, you bow," seems quite apt as a guide to choosing good investors. A large, successful enterprise in the field of transportation infrastructure construction may not necessarily be capable of undertaking a large-scale tourism project. Similarly, an investor successful in the pharmaceutical and medical supplies sector may not necessarily be able to successfully develop a large, livable, and perfect urban space…
In short, selecting the right investor to execute a good project is extremely important. To achieve this, it depends on the integrity and competence of the relevant managers!
