Efforts to promote investment

(Baonghean)In an effort to promote investment and boost socio-economic development in the province, in early August (from the 1st to the 5th), provincial leaders organized a working group to visit southern provinces including Ho Chi Minh City, Binh Duong, and Binh Phuoc to introduce the province's potential and advantages and strengthen investment cooperation. During this trip, the working group met with two economic groups and one corporation to discuss mechanisms for encouraging investment in Nghe An province.

In Ho Chi Minh City, during a meeting with SABECO Corporation, on behalf of the provincial leadership, Mr. Ho Duc Phoc, Secretary of the Provincial Party Committee, acknowledged the Corporation's efforts in investing in the Saigon - Song Lam Brewery and the SABECO Packaging Factory in Nghe An. On average, these two units contribute over 500 billion VND to the provincial budget annually, and also help create jobs and income for many workers in the area. With the current potential advantages and preferential mechanisms, the provincial leadership hopes that SABECO Corporation will continue to explore investment opportunities in the province.

Mr. Phan Dang Tuat, Chairman of the Board of Directors of SABECO Corporation, a native of Nghe An province deeply committed to his homeland, stated that in the near future, the Saigon-Song Lam Brewery will increase its capacity from 100 million liters/year to 150 million liters/year. The Corporation is also researching potential investment areas to leverage its abundant labor force and its potential to develop Nghe An into a regional hub for the North Central provinces. The Corporation will strengthen coordination with relevant departments and agencies, expand production and business, and promote brand development for the benefit of the company and to contribute to the local budget. Effective and close cooperation is a crucial factor for the Corporation's sustainable development in President Ho Chi Minh's hometown.

Comrade Ho Duc Phoc and provincial leaders visited the Hoa Sen Steel Sheet Manufacturing Plant in Phu My Industrial Park.

During their business trip to the southern provinces, the provincial leaders scheduled a meeting with Hoa Sen Group for the first time to introduce the potential advantages, mechanisms, and policies for attracting investment. The Group's leaders were very grateful that the key provincial leaders proactively sought out and invited investors, and committed to sending officials to explore investment opportunities in Nghe An. With 11 years of formation and development, Hoa Sen Group has grown strongly and rapidly, becoming a robust economic entity with a system of modern manufacturing plants, creating a strong, friendly, and community-oriented brand chain.

To date, the group's steel sheet products have affirmed their number one position in the domestic market, as well as in the Southeast Asian region. The group has 115 distribution and retail branches and 3 main warehouses, along with subsidiaries and affiliated companies, all operating efficiently in production and business. Financial revenue in 2011-2012 reached VND 10,088 billion, and from the end of 2012 to the present, it has reached VND 8,553 billion.

In its expansion plans to the northern provinces, the Group is researching investment strategies, and Nghe An province is considered one of the favorable locations. The Group has expressed its desire to find land exceeding 10 hectares in the North Central provinces to expand its production plant. According to Mr. Vo Van Hai, Head of the Southeast Economic Zone Management Board, Nghe An currently has several plots of undeveloped land that can meet this requirement. Furthermore, the province will provide all necessary infrastructure, including transportation, electricity, water, and preferential policies, to support the Group's investment in Nghe An.

Working with the Vietnam Rubber Industry Corporation, whose subsidiary, the Rubber Investment and Development Joint Stock Company, operates in Nghe An province, provincial leaders acknowledged the Corporation's efforts in researching new varieties suitable for the soil and climate of different regions. To date, after three years of implementation, the rubber development project in Nghe An has planted over 1,100 hectares; the company has coordinated with local authorities and people to mobilize over 4,000 hectares of land for the goal of planting 10,000 hectares of new rubber trees.

According to the rubber company's assessment, the newly planted area is developing well, indicating suitability in terms of climate and soil. The company continues to survey the terrain and plans to expand rubber plantations in the western districts of Nghe An province. In its rubber development strategy for the years 2020-2030, the province has planned and will allocate land for planting 25,000 to 35,000 hectares. In fact, in addition to the investment from the rubber company, in recent years, local people have developed and planted many new small-scale rubber plantations.

This is opening up many avenues for investment in exploitation and processing. Provincial leaders hope that the Vietnam Rubber Industry Group will focus on developing suitable seedlings, coordinating to increase acreage, and especially concentrating on investing in processing plants to create stable output for rubber latex products in the future. In the long term, they may also invest in rubber wood processing plants when the areas need to be cleared and replanted. Mr. Vo Sy Luc, Chairman of the Board of Members of the Group, affirmed that he will strengthen the direction of member units to promote close coordination with the government and people in the area to effectively implement the strategy of developing rubber trees associated with exploitation and processing in Nghe An in the coming years.

During their working visit to the southern provinces, the delegation of provincial leaders, led by Mr. Ho Duc Phoc, worked with leaders of Ho Chi Minh City, Binh Duong, and Binh Phuoc provinces to strengthen exchanges and cooperation in promoting potential and advantages, and attracting investment. With its strengths in land resources, minerals, aquatic products, tourism, human resources, and socio-economic infrastructure, including economic zones and industrial parks; and attractive investment incentives and support policies, Nghe An is becoming an attractive destination for domestic and foreign investors.

The investment promotion activities of the provincial leaders are considered a starting point and a breakthrough, demonstrating the determination to successfully implement Resolution 26-NQ/TƯ of the Politburo on the development of Nghe An province by 2020, aiming to fundamentally transform it into a province of industry, finance, trade, tourism, education and training, science and technology, health, culture, sports, and high-tech industry in the North Central region.

Text and photos: NGUYEN NGUYEN