Nghe An for the first time entered the top 10 localities attracting the largest foreign direct investment capital in the country.

On the morning of June 29, the Standing Committee of Nghe An Provincial Party Committee held a regular meeting for June 2022. Comrade Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the National Assembly Delegation, Chairman of the Provincial People's Council chaired the meeting. Attending the meeting were comrades: Nguyen Van Thong - Standing Deputy Secretary of the Provincial Party Committee; Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; representatives of leaders of a number of Central Party Committees, comrades of the Provincial Party Standing Committee and a number of departments and branches. Photo: Thanh Duy

At the regular meeting of the Provincial Party Committee Standing Committee, Deputy Secretary of the Provincial Party Committee and Chairman of the People's Committee of Nghe An province Duc Trung said that since the beginning of the year, the province has attracted 580 million USD in foreign direct investment (FDI), the highest level ever; of which investment projects in the Southeast Economic Zone are 550 million USD and projects outside the Southeast Economic Zone are 30 million USD.

Overall, as of June 15, 2022, Nghe An continued to achieve quite positive results in attracting investment with 50 newly licensed projects and 59 adjusted projects. Thereby, the total newly licensed and increased capital was VND 26,435.4 billion, of which newly licensed capital was VND 13,256.7 billion. Compared to the same period in 2021, the number of newly licensed projects increased by 13.64%, the total newly licensed capital increased by 1.68 times.

According to the Foreign Investment Agency, Ministry of Planning and Investment, the 10 localities attracting the largest FDI in the country in the first 6 months of 2022 (from January 1 to June 20, 2022) in order are: Binh Duong, Ho Chi Minh City, Bac Ninh, Thai Nguyen, Hai Phong, Hanoi, Bac Giang, Long An, Nghe An, Dong Nai.

Comrade Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee spoke at the regular meeting in June 2022 of the Provincial Party Committee Standing Committee. Photo: Thanh Duy

Some major projects were newly granted and adjusted during the period such as: Investment in construction of social housing area for workers and laborers working in Nam Cam Industrial Park at location No. 3 of MK Central Solar Power Joint Stock Company with a total investment of 3,495.16 billion VND); Investment in construction of social housing area for workers and laborers working in Nam Cam Industrial Park at location No. 04 of BMC International Trade Joint Stock Company with a total investment of 3,385.38 billion VND); Forestry products processing factory, domestic consumption and export in Area D - Nam Cam Industrial Park of An Viet Phat Nghe An Energy One Member Co., Ltd. with a total investment of 1,277.32 billion VND); Adjusting the total investment of 2 Factories manufacturing electronic products, network equipment and multimedia audio products in WHA Industrial Park of Goertek Vina Precision Industry Co., Ltd. to increase by 400 million USD...

This result demonstrates Nghe An's breakthrough in attracting investment in general and attracting foreign direct investment in particular in an effort to escape the "lowland" of FDI attraction.

To improve the investment and business environment, Nghe An has directed departments, branches and sectors to effectively implement the Project to improve the investment and business environment, enhance the efficiency of investment attraction in the province in the period of 2021-2025 and the Project to develop enterprises in Nghe An province to 2025.

Workers work at Luxshare ICT Nghe An Co., Ltd. in VSIP Nghe An Industrial Park. Photo: Thanh Duy

Nghe An also continues to prioritize capital allocation to complete key projects to attract investment, and work with infrastructure investors to call for and promote secondary investors.

The province is also directing the Department of Planning and Investment to build investment project management software, expected to be put into operation in September 2022; develop a handbook to guide the implementation process of investment projects in Nghe An province, and regulations on coordination of investment project management in the province.

At the same time, direct sectors and localities to promptly and synchronously deploy support mechanisms and policies to remove difficulties for businesses; regularly and proactively grasp and resolve difficulties and obstacles for investors and businesses, and improve the effectiveness of on-site investment promotion. Nghe An has also directed relevant departments, sectors and units to report and analyze to clarify the component indicators and parameters affecting the PCI index; discuss solutions to improve the investment and business environment in the province, and improve the PCI index in the coming time.