Nghe An innovates investment promotion activities appropriately and effectively

Innovation in investment promotion

Collaborateinvestment promotionimplemented in the right direction, content, roadmap and with creativity. Through investment promotion activities, we have grasped the trends and investment fields of partners as a basis for adjusting, supplementing and issuing investment policies and conditions suitable to the actual situation.
In 2020, the province directed the organization of outstanding investment promotion activities such as: Coordinating with the Ministry of Foreign Affairs and the Korean Embassy in Vietnam to organize the Conference "Meeting Nghe An - Korea: Integration and Development". Nghe An is the only locality to organize a separate program on the sidelines of the 2020 Meeting Korea Conference. This is an important event demonstrating the province's dynamism and professionalism in foreign affairs activities as a premise for investment, trade and tourism promotion activities with Korea.

Minister of Planning and Investment listens to the introduction of investment attraction results in VSIP Nghe An. Photo: Thanh Duy

Organized reception and work with many delegations of domestic and foreign partners and investors coming to learn and research investment in the province, including 6 domestic delegations and 3 foreign delegations: Korea, China, Russia.

The relevant agencies and departments have directly organized work with a number of foreign investors on investment proposals for large-scale projects that are driving development such as: WHA Industrial Zone Nghe An Joint Stock Company (adjusting WHA Industrial Park Project), Hoang Thinh Dat Joint Stock Company (attracting foreign investment projects), VSIP Nghe An Co., Ltd. (additional capital for phase 2 of about 81.57 million USD), Goertek VN Company (electronic components manufacturing project), JuTeng International Holdings Ltd. Company (electronic components manufacturing factory project for laptops, tablets, smartphones, with an expected total investment of nearly 500 million USD in Hoang Mai Industrial Park I)... and signed investment memorandums and granted investment registration certificates for projects such as:
Signed a Memorandum of Understanding on investment withinvestorEverwin USA, LLC and Everwin Precision Hong Kong Company Limited with a total expected investment of phase I of 300 million USD; granted an investment certificate to Goertek VN Company (Electronic components manufacturing project) with a total investment of phase I of 100 million USD.

Also in 2020, Nghe An had many activities to attract investment and work with Japanese partners. That was the "Meet Japan 2020" Conference at the end of November.

On the sidelines of the conference, the Chairman of Nghe An Provincial People's Committee and the delegation worked with the Ambassador and Heads of Japanese agencies and organizations in Vietnam such as: JICA, JETRO, JASSO, JBIC, JINTO, JCCI, JCCH and Japanese enterprises.

Next, at the Japan - Vietnam Investment Promotion Conference organized by the Ministry of Planning and Investment in coordination with the Vietnamese Embassy in Japan and Sumitomo Mitsui Banking Corporation (SMBC), Nghe An province, along with Can Tho and Phu Tho, were the three localities selected to present and introduce their investment attraction potential at the Conference.

Here, Mr. Bui Duy Dong -Director of Center for Investment, Trade and Tourism PromotionNghe An province gave a speech, emphasizing that Nghe An province always attaches importance to and identifies Japan as a leading partner in the province's international cooperation strategy as well as investment attraction. Currently, Japan has 10 projects/113 million USD in Nghe An. Nghe An province hopes that Japanese investors and enterprises will continue to pay attention and learn about investment in Nghe An. The province is committed to creating the most favorable conditions for investors to learn about investment, business and build sustainable careers in the homeland of President Ho Chi Minh.

Visit Japanese strawberry production model on an experiential farming tour.

Promote investment environment

The provincial Investment, Trade and Tourism Promotion Center has completed and issued over 2,000 investment promotion publications, including the publication "Nghe An - Attractive and friendly investment destination", "List of projects attracting investment in Nghe An until 2030"; Clip promoting the image of the country and people of Nghe An province with the title "Nghe An - attractive destination" in 4 languages: Vietnamese, English, Korean and Japanese; screening films honoring typical businesses and entrepreneurs on the occasion of Vietnamese Entrepreneurs' Day (October 13)...
Investment promotion activities, policies, investment results, investment promotion activities... are widely publicized in the mass media, contributing to promoting the investment environment in Nghe An as attractive and hospitable to investors.

Leaders of the Center for Investment and Tourism Promotion and Support talk with Thai investors. Photo: Tran Chau

Since the Provincial Investment, Trade and Tourism Promotion Center came into operation, on-site investment promotion activities have been promoted in many fields. Nghe An has directed departments, branches and localities to promptly support investors who have been granted investment policy decisions and investment registration certificates to remove difficulties and obstacles, and speed up project implementation. Support investors in completing relevant investment documents and procedures, promptly respond in writing, and provide guidance during the process of research, survey, and preparation of investment proposal documents, and documents proposing adjustments and expansion of investment projects, ensuring that investment procedures are carried out smoothly and quickly according to regulations.

At the same time, periodically review slow-processing files every month and every quarter to urge departments, branches and localities. Post investment activities, provide information and documents related to planning, land, preferential policies and mechanisms, investment support... for investors to learn and research investment.

Currently, the Department of Planning and Investment is coordinating with the Management Board of the Southeast Economic Zone and related departments and branches to advise the Provincial People's Council to issue a Resolution replacing Resolution No. 26/2016/NQ-HDND dated August 4, 2016 on a number of investment support policies in the province with the goal of building appropriate, feasible and effective investment support policies.

Japanese enterprises survey at VSIP Nghe An Industrial Park.

The Director of the Southeast Economic Zone Management Board said that, anticipating the wave of investment from China, the Board and departments and branches are focusing on the best conditions together with industrial park infrastructure investors to welcome secondary investors to Nghe An. As a result of 2020 (as of November 30, 2020), the whole province has newly granted (approved investment policy/issued Investment Registration Certificate) to 72 projects with a total registered investment capital of VND 7,707.11 billion (the number of projects decreased by 19.1%, the total registered investment increased by 20.5% compared to the same period last year). 89 projects were adjusted, of which the total investment capital of 25 projects was adjusted (increased by VND 7,403.13 billion). The total newly granted and increased capital is VND 15,110.24 billion.

Mr. Le Tien Tri - Director of Southeast Economic Zone Management Board

Some major projects newly licensed in 2020 in Nghe An include: North Central Forestry Seedling Center Project - DKC of Thien Minh Duc Group Joint Stock Company (VND 251.565 billion); Quynh Loc Inland Water Port Project and Fisheries Logistics Services at Dong Hoi Industrial Park of Hung Dung Construction and Trading Investment Joint Stock Company and Thanh Cong Trading Company Limited (VND 415.1 billion); Factory manufacturing electronic products, network equipment and multimedia audio products at WHA Industrial Park (USD 100 million), Mergy & Luxshare Vietnam Co., Ltd. Project at VSIP Industrial Park (USD 40 million); Traditional Medicine Hospital combined with Quang Khoi Elderly Care Center of Hoang Mai Medical Company Limited (VND 173.64 billion); Heavy calcium carbonate powder factory at Hoang Mai II Industrial Park of Yabashi Industrial Joint Stock Company (USD 9.47 million)...