Nghe An grants new licenses to 106 projects

This morning (December 10), Nghe An Investment, Trade and Tourism Promotion Center in collaboration with the Northern Investment Promotion Center, Foreign Investment Agency; Bac Ninh Provincial Institute for Socio-Economic Development and Quang Ninh Provincial Investment Promotion and Support Board organized the Conference "Exchanging experiences in promoting and supporting domestic and foreign investors". The conference was also connected online to 21 districts, cities and towns of Nghe An.

Follow the investor's footsteps

According to the statistics, as of November 30, 2021, the province has granted new investment licenses to 106 projects and adjusted 118 investment projects with a total newly granted and increased capital of VND 28,072.80 billion; an increase of 41.33% in the number of projects and 2.92 times in the total registered investment compared to the same period in 2020.

Currently, many large corporations and investors have come to explore investment in Nghe An province such as Nha Trang Bay Construction Investment Joint Stock Company, APEC Group, Huali Group, Mobifone Group, Zuru Group, Viettel Group, Vinh Central Investment Joint Stock Company, Vietnam Tobacco Corporation, AEON Mall Group... That is the result of the efforts to improve the investment and business environment, and accompany businesses and investors of the authorities at all levels, departments, branches and localities in the province.

The conference was held both in person and online with many speakers and experts in the field of investment attraction. Photo: Tien Dong

However, compared with the potential and advantages of the locality,attract big investorsNghe An is still facing many difficulties and obstacles, the effectiveness of investment promotion has not yet reached expectations.

At this Conference, the participants also listened to many valuable experiences from localities and units in investment promotion work.

Ms. Vu Thi Kim Chi - Deputy Head of Quang Ninh Investment Promotion and Support Department shared that Quang Ninh itself has long identified investment promotion as having an extremely important position in promoting the image and attracting large enterprises to invest in the area. Quang Ninh has built an investment promotion process in a closed chain, closely following the investor's steps from the time of calling for investment until the investor decides to implement the project investment in the area.

In addition, the Quang Ninh Investment Promotion and Support Board has also advised the province to establish an Investor Care and Support Team. At the same time, regularly monitor, urge and report to the provincial leaders the progress of project implementation. Promote on-site investment promotion and in-depth investment promotion for major partners such as Korea and Japan.

Groundbreaking ceremony of Goertek Factory project in Hemaraj Industrial Park. Photo: Pham Bang

Regarding investment promotion strategy, especially for difficult markets, it is necessary to build a set of documents, priority list to attract needs to be built specifically, in detail, build project list attractive enough for investors. At the same time, it is necessary to carefully study the market that you want to promote to convince the province in attracting and calling for investment.

Ms. Tran Thi Hue - Deputy Director of the Northern Investment Promotion Center, Foreign Investment Agency, said that, in the face of the complicated developments of the Covid-19 pandemic, FDI capital flows have shifted to a certain extent, and large investors have considered shifting capital flows to safe markets to diversify risks, including the Asian region. If this capital flow shifts, Vietnam will also be one of the countries that benefit.

Ms. Hue also assessed that Nghe An is a locality with many favorable conditions to attract investment, in addition to having complete traffic infrastructure, industrial park and economic zone infrastructure. However, in order to have major breakthroughs, Nghe An needs to urgently develop and announce an economic recovery plan and an opening plan that closely follows the new situation. Timely adjust overlapping and inappropriate regulations to effectively direct the work of preventing and fighting the Covid-19 epidemic in the area, helping investors have a safe "environment" to develop production and business. Proactively grasp and resolve proposals from local businesses on reopening production and business activities, ensuring compliance with regulations on epidemic prevention and control. Regularly monitor, exchange, inspect and urge relevant departments, branches and agencies during the implementation process to make timely and appropriate adjustments.

People do procedures at the Nghe An Provincial Public Administration Service Center. Photo: Tien Dong

Ms. Hue also emphasized that Nghe An also needs to adjust investment promotion activities in a unified direction, with a focus on national priorities, demonstrating inter-sectoral and inter-regional characteristics, linked to the market, investment partners and specific projects. It is necessary to proactively propose important fields and projects, large corporations that need to attract investment, from which there will be implementation plans, from research, approach, support, survey, to implementation of investment procedures and post-investment support.

Improve DDCI index

One of the important issues contributing to improving the effectiveness of investment attraction isimprove competitivenessof the province compared to other localities. According to many experts, to improve the provincial competitiveness index (PCI), it is necessary to first improve the competitiveness of departments and branches (DDCI).

Sharing about this issue, Dr. Nguyen Phuong Bac - Director of the Institute for Socio-Economic Development Research of Bac Ninh province said: DDCI index is a measure of local governance quality, which has a great impact on improving the PCI index. Therefore, it is necessary to build an internal evaluation system (organizational evaluation, staff evaluation), and external evaluation (effectiveness measurement). It is necessary to build a yardstick to evaluate the performance of departments and branches. Collect people's opinions, feelings and evaluations of state agencies through transactions, interactions, explanations, etc.

Overall perspective of Hemaraj Industrial Park Project. Photo: BNA documents

Mr. Hoang Vinh Truong - Deputy Director of the Center for Investment, Trade and Tourism Promotion of Nghe An province said: Since the beginning of 2020, the impact of the Covid-19 pandemic has greatly affected the socio-economic development of Vietnam in general and Nghe An province in particular.

Through proactive and flexible direction and management, and synchronous implementation of solutions, the implementation of the "dual goal" of both epidemic prevention and socio-economic recovery and development of the province has also seen many changes. Investment promotion activities have been innovated in a flexible direction, increasing the application of information technology and digital transformation. Thanks to that, Nghe An's investment attraction results in 2021 still have many bright spots. Compared to the same period in 2020, the number of investment projects in Nghe An increased by 30.5%, and the total investment increased by 4.97 times.

Mr. Hoang Vinh Truong - Deputy Director of Nghe An Investment, Trade and Tourism Promotion Center said that the organization of this conference has contributed to improving the level, expertise and skills in investment promotion. Photo: Tien Dong

Mr. Truong also assessed that the organization of the Conference "Exchanging experiences in promoting and supporting domestic and foreign investors" both directly and online has contributed to improving the level, expertise and skills in investment promotion. Through the opinions of experts, it will help the team of people working in supporting and promoting investment in Nghe An to update a lot of knowledge about international economic integration and the impact on investment promotion methods, at the same time assess the impact of the COVID-19 epidemic on the trend of shifting FDI capital flows and recommend the preparation of Nghe An province. "Not to mention, this activity also contributes to strengthening regional cooperation in investment, trade and tourism promotion activities, in order to take advantage of resources and advantages between localities with many innovations in promoting and attracting investors" - Mr. Truong emphasized.