Let's work together to develop Nghe An.

(Baonghean.vn) -As if by divine providence, after the full moon of the first lunar month, delegates, distinguished guests of the National Assembly, the Government, central ministries and agencies, international guests, and hundreds of investors gather in Vinh City, a land of spiritual significance and outstanding people, the birthplace of President Ho Chi Minh, to meet, exchange ideas, and discuss investment opportunities in the "promised land" of Nghe An.

Overview of the conference

During the five Investor Meetings held from 2009 to 2013, the province granted investment certificates and signed contracts for 47 projects with a total registered capital of over 62,000 billion VND. Of these, 42 were domestic investment projects and 5 were foreign direct investment (FDI) projects. These investment projects focused on industrial production, commercial centers, real estate, tourism, education and training, and livestock farming. To date, Nghe An province has a cumulative total of 627 investment projects, including 588 domestic projects with 109,589 billion VND and 39 foreign direct investment (FDI) projects with 1.49 billion USD. Many of these are large-scale projects utilizing high technology that have become operational and are generating significant revenue, while many others are currently under exploration and construction.

National Assembly Chairman Nguyen Sinh Hung delivered a speech at the conference.

Delegates attending the conference.

As in previous years, this year's Spring Investor Meeting in the Year of the Horse was honored to welcome senior leaders of the Party and State, leaders of central ministries and agencies, the National Assembly Office, the Government Office, and the Board of Directors of the Vietnam Investment and Development Bank.

Opening the conference, on behalf of the leaders of Nghe An province, Comrade Nguyen Xuan Duong – Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee – highlighted the great achievements in the province's socio-economic development efforts in 2013 with impressive figures in the context of the country's socio-economic difficulties: GDP growth rate reached 7%; per capita income reached nearly 24 million VND; budget revenue reached 6,487 billion VND, equivalent to 123.1% of the projected amount. Social security was ensured, and the poverty rate decreased to 12.5%. Notably, in 2013, the province granted investment certificates to 89 projects, including 84 domestic investment projects with a total registered capital of 13,310 billion VND and 5 foreign direct investment (FDI) projects with a total registered capital of 21 million USD.

The Chairman of the Provincial People's Committee affirmed that Nghe An is the homeland of President Ho Chi Minh, a province with a large area, a large population, a tradition of patriotism and revolution, and advantages for development in terms of geographical location, natural resources, and human resources. Striving to make Nghe An a prosperous province as President Ho Chi Minh wished is not only the desire of the Party Committee, government, and people of the province, of all generations, but also the desire and requirement of the leaders of the Party and State, of the Politburo, of the Government and central ministries and agencies, of the business community, entrepreneurs, and especially those from Nghe An living far from home.

Leaders of Nghe An province sign project agreements with investors.

The leaders of Nghe An province presented investment certificates to two investors.

On behalf of the credit institutions that have financed, supported, and committed capital to projects that have been, are being, and will be implemented in Nghe An province, Mr. Tran Bac Ha - Chairman of the Board of Directors of BIDV Bank Vietnam - could not hide his emotion when standing before 750 delegates who are extremely dedicated and want to help Nghe An break through and rise to prominence. Mr. Ha recalled the time six years ago, at the end of October 2009, when Comrade Vo Duc Huy - Secretary of the Party Committee of the Central Enterprise Bloc - together with him and the leaders of Nghe An province discussed the plan to organize a meeting with investors.

This plan quickly received strong support from Party and State leaders, especially Comrade Nguyen Sinh Hung, who was then Deputy Prime Minister. While in the first three years the conference was still known as the "Investment Promotion Conference," from 2011 to the present, it has become an annual festival for investors: "Simply put, it's like a festival where farmers go to the fields at the beginning of the year with new enthusiasm, new determination, and new hopes and expectations for Nghe An to take off."

Mr. Tran Bac Ha affirmed that, over the past period, credit institutions, corporations, and investors have always done their best, regularly coordinating with provincial leaders to review and reassess projects; calling on credit institutions to commit to providing capital support and attracting investment in sectors that the province requires. To date, investors have expressed satisfaction, enthusiasm, and confidence in the government and the sacred land of Nghe An, and hope that more and more investors will come to Nghe An. Mr. Tran Bac Ha's tone softened as he spoke about the difficulties and challenges facing Nghe An, including the risk of being overtaken by Ha Tinh and Thanh Hoa, a total revenue of over 6 trillion VND but only one-third of the total budget revenue, underdeveloped industry, and very few international tourists despite numerous advantages. Mr. Tran Bac Ha hoped that this conference would provide a boost, and that the Government and central ministries and agencies would assist Nghe An in securing leading projects to drive breakthroughs. To achieve this, Nghe An must improve regional linkages with the North Central region, develop supporting industries linked to the deep-water port and Thanh Thuy border gate with Laos, and narrow the economic development gap, especially in the Mekong Delta.

As someone deeply committed to Nghe An, Governor of the State Bank of Vietnam Nguyen Van Binh believes that Nghe An is situated between two provinces with strong development potential, Thanh Hoa and Ha Tinh, creating healthy competitive pressure but also a significant advantage for the province to develop a sound strategy. In particular, attention should be paid to how to leverage the advantages of neighboring provinces, such as the supporting industries for the oil refining industry, mechanical engineering, and manufacturing industries, to make good use of the Vung Ang metallurgical center, etc. Nghe An's advantage lies in its large population, its tradition of studiousness, diligence, perseverance, and hard work – an opportunity for Nghe An to develop high-tech industries.

In the agricultural sector, it is necessary to identify pioneering crops and livestock that can utilize high technology to mitigate the harsh effects of the climate. The government also needs a mechanism to develop Western Nghe An. Currently, the banking sector is encouraging investors interested in high-tech agriculture, and commercial banks need to continue participating in the province's social welfare programs. Each credit institution must sponsor at least one poor commune in Nghe An, helping them escape poverty sustainably, with annual plans in place. The head of the State Bank of Vietnam also committed to providing investors with capital for effective projects when investing in Nghe An.

The Governor's strong commitment instilled enthusiasm and confidence in investors, businesses, managers, and policymakers present at the conference regarding a potential wave of investment in Nghe An in the near future. During the conference discussions, major investors such as Vietnam Cement Corporation, TH Group, JETRO Japan's representative in Hanoi, and Nam Dan - Van An, acknowledged Nghe An's significant efforts in attracting investment and pledged to continue long-term, sustainable investment in the province. Mr. Tran Van Nam, Vice Chairman of the People's Committee of Binh Duong province, affirmed that he would not hold back and was ready to share all of Binh Duong's investment attraction experiences. When Comrade Nguyen Sinh Hung interrupted the speech with a lighthearted question, "When will Nghe An catch up with Binh Duong?", Comrade Tran Van Nam frankly stated that Nghe An has many opportunities to leapfrog and anticipate investment trends, while affirming that Binh Duong province will provide maximum support for businesses from the province to invest in Nghe An.

Comrade Nguyen Sinh Hung met with delegates before the conference began.

Delegates visit the exhibition booths at the conference.

Most of the discussions at the Conference acknowledged Nghe An's progress in improving its investment environment. Mr. Luong Quang Khai, General Director of Vietnam Cement Corporation, affirmed that two years ago, the Corporation had a special connection with Nghe An when it took over the Hoang Mai Cement Plant. “We jokingly say that this plant has two 'mothers': the Provincial People's Committee and Vietnam Cement Corporation. After two years of operation, this cooperation has yielded unexpected results; the project is nearing completion, repaying loan interest, consistently generating profits, and we will soon expand to phase 2 of the project along with other supporting industries,” Mr. Khai affirmed.

At this conference, nearly 40 investors from countries such as the UK, the US, Japan, South Korea, Singapore, Thailand, and Hong Kong attended. This is the clearest evidence of Nghe An's attractiveness to the international business community and entrepreneurs. Mr. Atsusuke Kawada, Head of the JETTRO Japan representative office in Hanoi, affirmed: "Although the number of Japanese projects is still small, thanks to the province's determination, abundant labor resources, relatively low labor costs, and the cooperation between provincial leaders and companies, Nghe An is known as an important and quite attractive area, and a new investment destination for Japanese companies." JETTRO Japan is an organization that specializes in bridging the gap between businesses in Japan and other countries, supporting businesses investing abroad with specific activities such as organizing investment seminars and sending delegations to explore investment opportunities.

Unable to hide his joy at the presence of nearly 750 delegates at the 6th Investor Meeting, Comrade Nguyen Sinh Hung emphasized that this was not just a simple conference anymore, but a celebration of the past five years, a day of solidarity among delegates. This year, the number of delegates from the Central Government is higher, as is the number of businesses, and from other provinces, all showing greater determination, signaling even more positive signs of new success for the homeland of President Ho Chi Minh. He expressed confidence that this year will be a year of great success.

However, the Chairman of the National Assembly also suggested that Nghe An should review its development strategy, economic development plan, and urban planning. It must determine its current position in order to make breakthroughs and move forward. “Nghe An is a special land in terms of geo-economics and geo-politics. Investors coming to Nghe An also have a responsibility to the homeland of President Ho Chi Minh. Currently, Nghe An is the only locality in the country to have received a Resolution from the Politburo. The province must create new determination, new steps, and new calculations to multiply values, bring more benefits to the people of Nghe An, and contribute to the overall development of the province. We must realize this determination to make Nghe An a prosperous province,” the Chairman of the National Assembly affirmed.

Responding to the heartfelt concerns and aspirations of the Chairman of the National Assembly, as well as the wishes of the Party and State leaders, ministries, departments, and investors, on behalf of the provincial leadership, Comrade Ho Duc Phoc - Secretary of the Provincial Party Committee - promised that the Party Committee and people of Nghe An will do their utmost to develop Nghe An into an industrial province by 2020, as envisioned in Resolution 26 of the Politburo and as desired by President Ho Chi Minh.

The Investor Meeting concluded with signing ceremonies and awarding of investment certificates for major projects in the province, as well as signing of credit financing agreements for construction and investment projects in Nghe An. Awards were also presented to investors and businesses for their significant contributions to the province in 2013. This truly resonated with excitement and joy, signaling a successful and prosperous year, marked by renewed determination and motivation from the Party, State, provincial leaders, and investors for a year of great success. All this is aimed at achieving breakthroughs and development for this land of outstanding people and rich history.

Quan - Tuan - Khoa