Investment environment – a place where eagles perch.
On the occasion of the beginning of the Year of the Snake 2025, Nghe An Newspaper recorded some opinions from representatives of investors, businesses, and various sectors and localities regarding the investment and business environment in the province.
Mr. Le Tien Tri - Head of the Management Board of the Southeast Nghe An Economic Zone:
The achievements of the province, particularly the industrial parks and economic zones, have made a positive contribution to the province's socio-economic growth and development. This has been achieved through the strong attraction of domestic and foreign direct investment, enhancing the efficiency of resource utilization within the province and supplementing a significant source of capital in total social investment.
Attracting investment has also contributed to positive economic restructuring and increased export turnover; significantly contributing to budget revenue and creating new jobs in Nghe An province during the 2021-2030 period. To date, Nghe An has 7 industrial parks with a total area of 2,388 hectares, with an occupancy rate of 56.36%; the total newly registered and adjusted capital is estimated at US$1.648 billion, reaching 235.4%, and is expected to reach over US$1.69 billion for the whole year of 2024, ranking among the top 10 provinces attracting the largest FDI in the country for the third consecutive year.
Mr. Teng Wei Hong - General Director of VSIP Nghe An Co., Ltd.
With the best support and cooperation from Nghe An province, VSIP Nghe An Company has achieved great success. On behalf of VSIP Nghe An Company, we express our gratitude to the Provincial Party Committee, the Provincial People's Council, the Provincial People's Committee of Nghe An, the Nghe An Economic Zone Management Board, and the districts, cities, and towns where the project is located...
In Nghe An, VSIP is developing two major projects. Following the initial VSIP Nghe An 1 project in Hung Nguyen district in 2015, VSIP continued with the VSIP Nghe An 2 project in Dien Chau district (Tho Loc Industrial Park) in 2023. To date, the total investment capital of VSIP in Nghe An and its secondary investors in the industrial parks has reached US$3.1 billion, creating jobs for nearly 23,000 people. It is projected that over 35,000 jobs will be created in the next two years. This is both a source of joy and a significant labor pressure, and the company hopes for support in this area. VSIP has great confidence in its investment in Nghe An and can envision the enormous potential ahead with the development of the Southeast Economic Zone in particular and Nghe An province in general.
Mr. Thieu Tinh - General Director of Tan Viet Metal Science and Technology Company:
Our company, Tan Viet Science and Technology, is located in WHA Industrial Zone 1, Nghi Dong Commune, Nghi Loc District, Nghe An Province, with a total capital of 125 million US dollars.
We believe that investing in Nghe An was the best choice, and we have found everything to be very smooth throughout the investment process. After one year of implementation, in April 2024, the factory began production, and is expected to reach a capacity of 260,000 tons per year by 2025. Currently, we are making a significant contribution to the budget in Nghe An, and in 2025 we expect to contribute approximately 500 billion VND to the state budget.
Mr. Do Nhat Hoang Tat - Human Resources Director of Luxshare ITC Nghe An Company:
LUXSHARE ICT Nghe An factory is a subsidiary of LUX SHARE - ICT Precision Group.
Four years ago, the corporation decided to invest in VSIP Nghe An, and after four years, we have six factories with 14,000 workers. Overcoming many difficulties caused by the Covid-19 pandemic, we have achieved stable production. In August 2022, the leaders of LuxShare ICT Group visited to survey and decided to invest in the LuxShare 2 Project. From processing, we have gradually produced electronic, optical, acoustic, and other products. We strive to become a company with a regional scale. The biggest challenge currently is that we need about 28,000 workers, and we hope to receive better cooperation from vocational schools and districts in the area.
Ms. Tran Thi Van Anh - Director of VietSun Shipping Company, Nghe An Branch:
With 20 years of experience in transportation and logistics services, VietSun is the first shipping company to operate in Nghe An province and has made significant contributions to the development of the province's logistics services. Particularly since 2024, with the active support of Nghe An province, especially the province's policies supporting maritime transport, the company has been able to overcome the specific difficulties faced by the logistics service sector in the post-Covid-19 era. In 2024, the company increased the number of container ship voyages by 8% compared to 2023.
In 2025, VietSun is committed to continuing to innovate and improve the quality of transportation services, better meeting the cargo transportation needs of businesses; at the same time, it proposes that the province and partner businesses strengthen linkages and coordination to diversify cargo sources, and together strive to bring Nghe An's logistics services to a new level.
Mr. Nguyen Dinh Sinh - General Director of Minh Anh Garment Joint Stock Company:
Minh Anh Garment Corporation has been present in Nghe An for nearly 20 years, and the last few years have been the most difficult and challenging period. In 2023, when the textile and garment industry faced difficulties that forced many businesses to cease operations, the company continued production, ensuring jobs for its workers. Now, with orders returning, the company is continuing to invest in expanding production... The current development is thanks to the encouragement and support of the local Party committees and authorities where the company is located, and the understanding and sharing of the leaders of Nghe An province throughout the years.
In 2025, the company will need a very large number of workers and remains determined to recruit enough despite fierce competition...
Mr. Nguyen Ba Diep - Vice Chairman of the People's Committee of Nghi Loc District:
2024 was a successful year for Nghi Loc district. In 2024, the district successfully reclaimed a record amount of land for one project: the WHA Industrial Park Phase 2, covering 345 hectares in Nghi Hung and Nghi Dong communes. In the final days of 2024, nearly 100% of households in Binh Thuan hamlet agreed to hand over an additional 60 hectares in Zone A of the Nam Cam Industrial Park (reclaimed since 2004) to eight businesses for land lease procedures.
Experience in Nghi Loc district shows that, in order to successfully clear land, besides implementing policies and regulations, concerted efforts from all parties are needed, from investors to the attention of the province and the local authorities. Along with the construction of the main components, maintaining contact with investors and urging contractors to upgrade infrastructure effectively and practically will gain the strong support of the people.
