Nghe An strives to attract 150 projects with registered capital of 30,000 billion VND

(Baonghean.vn) - That is the goal set out in the draft plan to promote investment and foreign economic development of Nghe An province in 2018.

On the afternoon of November 20, the People's Committee held a meeting to listen to and give opinions on the results of investment promotion and foreign economic development in 2017, the plan for 2018; and the draft plan to organize the meeting with investors in the spring of Mau Tuat 2018.

The meeting was chaired by Vice Chairman of the Provincial People's Committee Le Ngoc Hoa. Also attending were relevant departments and branches. Photo: TH

In 2017, Nghe An successfully organized major events on investment promotion; the quality of content and organization was improved; thereby creating great efficiency for investment promotion and foreign economic development, many investment commitments and projects were formed through these events.

In 2017, a number of major projects were started and implemented quickly. In particular, the Provincial People's Committee is focusing on directing the promotion of the Projects of FLC Group and T&T Group and continuing to focus on removing difficulties in compensation for land acquisition and clearance for the VSIP Industrial Park and Urban Service Project, Hemaraj, Song Lam Cement Factory, etc. and focusing on removing difficulties to speed up the implementation of real estate projects in the province.

During the year (up to November 15, 2017), the whole province has newly granted (approved investment policy/issued investment registration certificates) for 158 projects with a total registered investment capital of 14,926 billion VND. 14 projects were adjusted with an increased adjusted capital of 303.03 billion VND. The total newly granted and adjusted capital is 15,229.03 billion VND.

FLC project complex will be invested in Nghe An. Photo courtesy

As of November 15, 2017, the province is continuing to implement 26 ODA programs and projects with a total investment of VND 13,569 billion. During the year, there are 13 NGO projects and 15 programs being implemented.

However, the general assessment of investment attraction results, according to the report of the Department of Planning and Investment, shows that in 2017, the number of projects increased by 35 projects but the registered investment capital decreased by more than half compared to the same period in 2016. The number of large-scale, breakthrough projects in 2017 was not much, mainly small-scale projects, concentrated in some fields such as mining, mineral processing, construction materials (41 projects/830.92 billion VND); warehouses, offices (11 projects/338.7 billion VND),...

The Director of the Investment Promotion and Support Center said that in 2017, the provincial leaders had many solutions to attract investment, but the results were not as expected. Photo: TH

Speaking at the meeting, delegates said that the effectiveness of investment attraction has not met the requirements. The number of projects and the scale of registered capital of foreign direct investment (FDI) projects are still low; Investment projects in economic zones and industrial parks, projects using modern technology, high technology and industrial - urban infrastructure projects, education and training, health care and agriculture are not many.

Investment promotion activities are mainly focused on the stages before investment licensing, while support activities for investors during project implementation and operation are still limited.

In addition, delegates also said that there is still a general phenomenon in the issue of clarifying the causes of limitations. Director of the Department of Agriculture and Rural Development Hoang Nghia Hieu suggested clearly stating the reasons for the slow project implementation, which agency and locality is responsible. Regarding policy solutions, it is necessary to review any shortcomings to have a direction to overcome difficulties, not to list solutions.

Vice Chairman of the Provincial People's Committee Le Ngoc Hoa concluded at the meeting. Photo: TH

Concluding the meeting, Vice Chairman of the People's Committee Le Ngoc Hoa emphasized: 2018 is a very important year, the year to evaluate the mid-term implementation results of the 5-year socio-economic development plan 2016 - 2020. To ensure the implementation of the set socio-economic goals, the Department of Planning and Investment needs to develop plans and solutions to promote investment and develop foreign economic relations, and mobilize maximum resources for investment and development.

In 2018, Nghe An province strives to attract 150 investment projects with a minimum registered capital of 30,000 billion VND, focusing on attracting FDI. Along with attracting new investment projects, pay attention to directing and urging the progress of projects that have been licensed for investment, especially key investment projects and works; promote on-site investment promotion activities.

The Vice Chairman of the Provincial People's Committee also requested that in the coming time, it is necessary to focus on removing difficulties and obstacles, speeding up the progress of licensed projects, especially key investment projects; Focus on promoting investment in potential projects, infrastructure investors such as Hemaraj, VSIP, Hoang Thinh Dat because these are strategic partners and investors to attract secondary investors in the coming years...

The Department of Planning and Investment is requested to complete the report based on comments from relevant departments and submit it to the Provincial People's Committee and the Standing Committee of the Provincial Party Committee in the coming time.

Regarding the plan to organize the 2018 Spring Investor Meeting, commemorating the 10th anniversary of Nghe An province organizing the Spring Investor Meeting, it is expected that there will be about 500 - 700 people, 2 scenarios will be developed, aiming to fill the industrial parks and industrial clusters in the infrastructure of the Southeast Economic Zone. It is recommended that the Provincial Investment Promotion and Support Center and relevant departments and branches advise on the plan and implementation plan...

Thu Huyen