Nghe An participates in online seminar to attract investment from the Middle East

The workshop at the Hanoi bridge was chaired by Mr. Pham Quang Hieu - Deputy Minister of Foreign Affairs and Ms. Nguyen Thi Bich Ngoc - Deputy Minister of Planning & Investment. Also attending were representatives of relevant ministries, branches and ambassadors of countries in the Middle East.

Attending the workshop at Nghe An bridge were leaders of the Department of Foreign Affairs, the Provincial Investment, Trade and Tourism Promotion Center (NAPC) authorized by the Provincial People's Committee and representatives of major infrastructure investors in the area such as VSIP, WHA, Hoang Thinh Dat Joint Stock Company.

Leaders of the Ministry of Foreign Affairs and the Ministry of Planning and Investment of Vietnam chaired a workshop to call for and attract investment from countries in the Middle East. Photo: Nguyen Hai (screenshot).

After the opening welcome of the representative of the Ministry of Foreign Affairs, the representative of the Ministry of Planning and Investment of Vietnam said: In recent years, the workinvestment cooperationbetween Vietnam and other countriesMiddle Eastwith many innovations and creativity. In that context, Vietnam has emerged as an attractive market. In 2020, foreign direct investment in Vietnam reached 29 billion USD and was one of the 20 countries attracting the most FDI in the world. In the first 8 months of 2021, despite being heavily affected by the Covid-19 pandemic, the results of attracting FDI were very positive.

The Middle East region includes 15 countries and territories stretching from West Asia to North Africa, with an area of ​​over 6 million km2.²and a population of nearly 350 million people, GDP by purchasing power reached about 6,000 billion USD. In recent years, with the world's leading oil and gas reserves, the Middle East has owned many large public investment funds, so the demand for foreign investment is increasing.

Economist Can Van Luc analyzes the global economic chart and the developments of the Vietnamese stock market during the Covid pandemic. Photo: NH

Currently, 9/15 Middle Eastern countries have opened embassies in Vietnam. In the field of investment, Middle Eastern countries currently have 135 FDI ​​projects in Vietnam with a total capital of over 900 million USD, but the actual number may be much larger because of the form of capital contribution through a third party. However, the representative of the Ministry of Planning and Investment assessed that the above results are not commensurate with the potential for cooperation between the two sides.

Through the workshop, which is “a road-opening and accompanying” and for diplomacy to serve the economy and development, the Ministry of Foreign Affairs hopes that Vietnamese diplomatic missions abroad will closely coordinate with localities, ministries, branches and businesses to call for and attract investment, serving the development of green economy, clean energy, digital transformation, etc.

Representative of the Embassy of the United Arab Emirates speaking at the conference. Photo: Nguyen Hai captured from screen

At the workshop, embassies of various countries highly appreciated the investment environment in Vietnam; at the same time, they introduced the investment situation and the demand for investment markets of local enterprises and investors in other countries, hoping that Vietnam would create favorable conditions for investors...

Participating in the workshop as one of the localities calling for investment attraction, Nghe An sent to the workshop a video clip introducing the potential, advantages and investment attraction situation in Nghe An.

A corner of VSIP Nghe An Industrial, Urban and Service Park. Photo courtesy

Accordingly, in recent years, along with inviting large industrial infrastructure business investors such as WHA, VSIP, CP CompanyHoang Thinh Dat,The province has achieved many encouraging results in attracting investment. Currently, with the advantage of being located on the East-West economic corridor, convenient transportation infrastructure, abundant labor resources, and highly competitive industrial real estate rental prices, Nghe An has emerged as one of the new FDI attraction destinations in Vietnam. To realize the above goals, Nghe An has been making efforts to attract investment, including investors from the Middle East.

Despite the impact of the Covid pandemic, in 2020, Nghe An still attracted 84 projects with a total investment capital of VND 8,388 billion; in the first 6 months of 2021, 51 new projects were granted, 69 projects were adjusted with a total newly granted and increased capital of VND 12,063.17 billion; in the period 2016-2020, the province attracted 532 projects with a total capital of over VND 67 trillion.

(Source NAPC)