Nghe An needs to proactively anticipate the CPTPP Agreement

Mr. Do Nhat Hoang - Director of the Foreign Investment Agency spoke at the workshop. Photo: Duc Anh

In his speech, the Director of the Foreign Investment Agency highly appreciated Nghe An in its efforts to attract investment, its high spirit of self-criticism, its determination and persistence in work. Nghe An has many talented people, as well as pointed out its objective advantages.

Accordingly, from a broader perspective, according to the negotiation roadmap, Vietnam is one of the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that has just been signed, which brings advantages to our country in general and Nghe An in particular in the process of attracting investment. In addition, the Government is determined and creative in accompanying businesses. Countries in the region compete to attract investment, Vietnam is one of the three ASEAN countries that investors are interested in.

Vietnam has huge potential, low costs, and competitive incentives. Vietnam is an attractive destination.

Many investment destinations in the North and South are showing signs of saturation and the focus is shifting to the Central region. The evidence is that many strategic investors such as Hemaraj and VSIP have chosen Nghe An.

However, in the period 2009-2017, of the 980 investment projects with a total capital of 276,000 billion VND, the majority were domestic investments with 112,000 billion VND. Foreign investment had only 53 projects with a total investment of 163,000 billion VND.

Nghe An's challenge is that it is far from major economic centers, has no major driving projects, and lacks foreign language skills in its human resources.

With those advantages and challenges, the Director of the Foreign Investment Agency said that in order for Nghe An to successfully attract investment, it is necessary to promote the Vinh - Hanoi expressway; continue to develop human resources, especially investing in human resources with foreign language skills; and strengthen connectivity of the East-West economic corridor.

In addition, according to Mr. Do Nhat Hoang, the province also needs to focus on building social infrastructure and international schools; along with contacting funds, consulting companies, and banks to improve investment promotion efficiency.

Attracting foreign investment creates many jobs for workers in Nghe An

(Baonghean) - Clearly identifying comparative advantages and the development trend of international economic integration, one of the important solutions for Nghe An province to create a driving force to promote socio-economic development is to attract foreign direct investment (FDI).