Promote the effectiveness of investment projects

Outstanding results in attracting investment

Although the socio-economic situation still faces many difficulties, in 2017, the Management Board of Dong Nam Economic Zone and all levels and sectors in Nghe An actively accompanied investors, attracting many projects. Statistics in the year (up to November 30, 2017), Dong Nam Economic Zone, industrial zones newly issued Investment Registration Certificates for 26 projects with a total registered investment capital of 5,364.57 billion VND, of which 4 newly issued FDI projects with a registered investment capital of 134.06 million USD. Adjusted 5 projects with an increased adjusted capital of 841.56 billion VND. Accumulated to date, Dong Nam Economic Zone, industrial zones of Nghe An province attracted 199 projects; of which: 34 FDI projects with a total registered investment capital of 1.507 billion USD and 167 domestic projects with a total registered investment capital of 38,685.24 billion VND.

In 2017, the revenue of enterprises in the Southeast Economic Zone and the province's industrial parks reached VND22,083.26 billion, an increase of 58% over the same period in 2016.

The Southeast Economic Zone received the Third Class Labor Medal on the occasion of its 10th anniversary. Photo: Nguyen Son

Some newly licensed large projects include: WHA Hemaraj 1 Nghe An Industrial Park Investment Project approved by the Prime Minister in Decision No. 681/QD-TTg dated May 22, 2017 (VND 2,056 billion); MDF fiberboard manufacturing factory (VND 1,754.14 billion); Housing Container manufacturing factory of TKV Group, Korea (VND 825.74 billion); Auto parts manufacturing factory of Nogoya Giken Company, Japan, Becker paint manufacturing factory of Becker Company, Sweden, etc. Supporting procedures for granting investment licenses for the project of Eco-tourism and entertainment complex in Nghi Tien commune, Nghi Loc district (VND 10,500 billion) of FLC Group; Quynh Lap II Thermal Power Plant of Posco Group, Korea (USD 2.5 billion); Hoang Mai 2 Industrial Park of Kovinet Group, Korea (VND 1,500 billion).

To achieve the above positive results, the Management Board of Dong Nam Economic Zone coordinated with the Provincial Investment Promotion and Support Center, the Department of Planning and Investment to successfully organize the Spring Meeting with Investors 2017, supporting the implementation of projects signed investment agreements at the Conference as assigned by the Provincial People's Committee in Decision No. 722/QD-UBND; Decision No. 723/QD-UBND dated February 28, 2017; Participated in investment promotion activities in Korea, Australia; coordinated with VSIP Nghe An to promote investment in Malaysia, Hong Kong, Korea and Ho Chi Minh City; supported Hemaraj Group to organize a delegation of more than 40 enterprises to learn about investment opportunities in WHA Hemaraj 1 Industrial Park, Nghe An...

Creating momentum for development

Currently, the Southeast Economic Zone and Nghe An Industrial Parks have 97 projects (out of a total of 199 investment projects) in operation, creating jobs for 18,218 workers, an increase of 865 workers compared to 2016. The average income of workers is 5.7 million VND/person/month. Industrial production value in 2017 in economic zones and industrial parks reached 16,325.01 billion VND, up 42.03% compared to 2016. Revenue reached 22,083.26 billion VND, up 58.0% compared to 2016. Export reached 2,387.39 billion VND, up 18.54% compared to 2016. State budget payment reached 1,298.72 billion VND, up 37.06% compared to 2016, equal to about 10% of total budget revenue in Nghe An province.

Nam Cam Industrial Park (in the Southeast Economic Zone) has basically filled up with projects. Photo: SM

The effectiveness of projects in economic zones and industrial parks not only gradually fills up industrial parks, bringing benefits to businesses and the province, but also creates a great spillover effect in solving jobs for local workers, contributing to promoting the development of other types of services as well as contributing to social security. That shows that the goal of building the Southeast Nghe An Economic Zone into a multi-industry, multi-functional economic zone, focusing on mechanical engineering, electronics, information technology, automobile manufacturing, high-tech equipment, pharmaceuticals, supporting industries, and processing of agricultural, forestry and seafood products is increasingly becoming a reality.

To continue promoting investment efficiency, the Management Board of the Southeast Economic Zone has proposed solutions to mobilize all resources to accelerate the progress of infrastructure construction (roads, electricity, wastewater, social housing, etc.) in the Southeast Economic Zone and industrial parks in a synchronous and modern direction to meet the requirements of industrial development, high-tech industry and environmental protection.

Through the discussion, Mr. Vo Van Hai - Head of the Southeast Economic Zone Management Board shared: "The Southeast Economic Zone has been approved by the Government to gradually operate and build into a key economic zone of the country. To specify the set goals, the Economic Zone Management Board regularly contacts and dialogues with businesses, quickly and legally resolves difficulties and problems in the process of construction and production and business. At the same time, accompanies businesses in promoting brands, products, recruiting workers, training human resources, improving skills, labor discipline, and industrial working style for workers.

We also synchronously deploy administrative reform solutions, ensuring clear and convenient policy procedures and reducing costs for investors. The Economic Zone Management Board also continues to effectively implement coordination regulations with departments, branches and localities, resolving problems for businesses, thereby bringing positive effects to each project, creating a spillover effect in the socio-economic development of the province."