Opening opportunities for Taiwanese investors in Nghe An
(Baonghean.vn) - Since 2020, due to fluctuations and adjustments in international relations, a series of production facilities of large corporations have tended to move out of China and find new investment locations. With its stable political advantages and good Covid-19 prevention and control work, Vietnam has become one of the choices of investors, especially investors from Taiwan.
Opportunities and potentials
With many large industrial parks (IPs), except for Bac Vinh IP and Zone A of Nam Cam IP which are basically full, most IPs and industrial clusters are in the investment stage, in great need of infrastructure investors as well as secondary investors to lease land and fill up.
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| The infrastructure of the Southeast Economic Zone is ready to welcome investors. Photo: Thanh Cuong |
Realizing this advantage, a number of Taiwanese investors have recently made many surveys, consulted locations and considered Nghe An as one of the priorities for investment. In fact, taking advantage of this opportunity, since the end of 2020, a series of projects have leased land for production at VSIP Hung Nguyen. Similarly, at WHA Nghi Loc, there are also a number of large projects such as the Goertek Electronic Components Project, the Aska Foods Seafood Processing Project... and most recently, the Electronic Components Manufacturing Project with a total investment of over 200 million USD by Ju Teng Group (Taiwan) at Hoang Mai 1 Industrial Park.
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| Hoang Mai Industrial Park is becoming an attractive destination for investors thanks to its many advantages in the logistics sector with a very convenient traffic location, from here it is easy to quickly access seaports, road ports and airports, thereby saving a lot of costs and transportation time, especially the cost of importing and exporting goods. Photo: Google Maps |
At the recent conference to attract Taiwanese investment in Nghe An, a representative of Ju Teng Group said that before choosing a location in Hoang Mai 1 Industrial Park, the group surveyed many places, including Vietnam and abroad, but saw good opportunities when entering Nghe An. Therefore, despite the difficulty of traveling due to the impact of the Covid-19 epidemic, the group was determined. After signing the memorandum of understanding, they sent people to Vietnam to coordinate with Hoang Thinh Dat Joint Stock Company to re-survey the field to build an estimate. Currently, although the procedures for granting investment certificates have not been officially announced, the group is urging Hoang Thinh Dat Joint Stock Company to implement many project site leveling items.
Speaking at the above forum, representatives of Nghe An Provincial People's Committee as well as the Ministry of Planning and Investment of Vietnam welcomed foreign investors in general and Taiwanese in particular with goodwill to invest in Nghe An.
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| Industrial parks have many advantages when the new land price for industrial parks only fluctuates from 40 - 50 USD/m2.2/year; and now according to the new regulations, it will be even lower, so it is a great opportunity for foreign investors to access. Graphics: Lam Tung |
Issues of concern to investors
Based on the questions of Taiwanese investors, representatives of Nghe An province as well as the Ministry of Planning and Investment of Vietnam answered the issues that investors were interested in. Among the questions and situations raised by Taiwanese investors, it showed that they were interested in and thoroughly studied the regulations on attracting and the investment environment in Vietnam.
For example, investors asked if they wanted to invest in factories and industrial facilities, what policies would the province have to support services on top of containers when goods pass through Nghe An ports? In addition, there were Taiwanese investors who wanted to find a location to invest in a textile and dyeing factory project, what are the procedures? When entering Vietnam, if you have been vaccinated against Covid-19, will you be exempted from quarantine? Which technologies are eligible for investment incentives? Next, the issue of human resources is also of great concern...
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| Loading and unloading containers at Cua Lo Port. Photo: Quang An |
At the online conference, in addition to answering questions and concerns of Taiwanese investors, the province also suggested a new direction for cooperation in vocational training. With 10 universities and vocational colleges, Nghe An has experience in cooperating in training high-quality human resources with the Federal Republic of Germany and South Korea, so Taiwanese investors can rest assured to invest and cooperate in training human resources according to their requirements.
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| The internal infrastructure of VSIP Hung Nguyen Industrial Park, phase 1, has been basically completed. Photo: Nguyen Hai |
Nghe An will make every effort to fulfill its commitments and create the best conditions for investors in general and Taiwan in particular. In the near future, the province will grant the Investment Certificate to Ju Teng Group, but also hopes to have more potential and aspiring investors come to Nghe An to seek business opportunities, create jobs and income for workers, thereby strengthening the cooperative relationship between Vietnam and Taiwan.