Nghe An continues to be in the top 10 localities attracting FDI nationwide.

According to information from the People's Committee of Nghe An province, as of April 30, 2023, Nghe An has newly granted (approved investment policies, issued investment registration certificates) to 48 projects with a total registered investment capital of VND 10,176.7 billion.

In addition, Nghe An has also adjusted 49 projects, of which the total investment capital of 15 projects has been adjusted (increased by VND 2,580.5 billion). The total newly granted and adjusted capital is VND 12,757.2 billion.

Compared to the same period in 2022, the number of newly licensed projects increased by 29.73%, and the total newly registered capital increased by 2.4%.

Notably, in the first 4 months of 2023, Nghe An province continued to be in the top 10 localities in attracting FDI nationwide with 397 million USD.

The Central working delegation of Nghe An province surveyed the planning perspective at VSIP Nghe An Industrial Park. Photo courtesy of BNA

Some large-scale production projects include: Luxshare - ICT electronic components factory (140 million USD) which has been in operation since 2019; Goertek Group's electronic products, network equipment and multimedia audio products manufacturing factory (500 million USD), Everwin Precision Vietnam Technology Co., Ltd.'s electronic components manufacturing project (199.8 million USD) and Ju Teng electronic product components and auto parts factory project (200 million USD) which is under construction according to investment progress, expected to be in operation in 2023; Tan Viet Metal Science and Technology Factory (125 million USD), Foxconn (100 million USD) is completing investment procedures.

Thanks to the active attraction of investment, many infrastructure projects have also been built on a large scale. For example, the infrastructure of industrial parks such as the Southeast Nghe An Economic Zone has an area of ​​20,776.47 hectares located in 6 districts, cities and towns. Currently, in the Southeast Economic Zone, there are 4 industrial parks that have attracted investment projects and are in operation (Nam Cam Industrial Park; Bac Vinh Industrial Park; VSIP Nghe An Industrial and Service Urban Area; WHA Industrial Zone Nghe An Industrial Park).

In 2023, Tho Loc Industrial Park (phase 1, scale 500 hectares) was approved by the Prime Minister for investment policy and is currently completing procedures to prepare for construction. In addition, there is 1 industrial park that is submitting to the Prime Minister for investment policy approval, which is Hoang Mai II Industrial Park, scale 334.79 hectares. Nghe An also currently has 3 industrial parks that are being researched, surveyed, and proposed for planning funding by investors (Tho Loc B Industrial Park, Nghia Dan Industrial Park, WHA Industrial Park phase 3).

A corner of WHA Industrial Park located in the Southeast Economic Zone. Photo courtesy

Regarding traffic infrastructure, in recent times, many key projects in Nghe An have been completed and put into use such as: Vinh - Cua Lo connecting road (10.8 km); Nghi Son coastal road (Thanh Hoa) - Cua Lo (Nghe An) Km76+00 - Km83+500 (7.5 km) which is of great significance in promoting tourism and trade development of Vinh city and Cua Lo town. Projects in the Southeast Economic Zone such as Road D4 (7.066 km long), N5 Crossroad (section 2, 6.5 km long) contribute to completing infrastructure, promoting socio-economic development of the province.

Currently, the province is continuing to focus on accelerating the progress of the Nghi Son (Thanh Hoa) - Cua Lo (Nghe An) coastal road project, implementing investment procedures to upgrade and expand the road to Nam Dan district; coordinating with the Ministry of Transport and related units to soon complete the North - South expressway project in the East (section through Nghe An province); accelerating the investment progress of construction of wharfs 7 and 8 of Cua Lo port, some wharfs of Vissai Nghi Thiet port, Dong Hoi wharf area.