Nghe An province grants new licenses to 106 projects.
(Baonghean.vn) - This information was presented at the online conference connecting and sharing experiences in investment promotion with several northern provinces, organized by the Nghe An Investment, Trade and Tourism Promotion Center.
This morning (December 10th), the Nghe An Investment, Trade and Tourism Promotion Center, in coordination with the Northern Investment Promotion Center, the Foreign Investment Agency; the Bac Ninh Provincial Institute for Economic and Social Development Research; and the Quang Ninh Provincial Investment Promotion and Support Board, organized a conference on "Exchanging experiences in promoting and supporting domestic and foreign investors." The conference was also connected online to 21 districts, cities, and towns in Nghe An.
Following closely in the investor's footsteps.
According to compiled data, as of November 30, 2021, the entire province had granted licenses to 106 new projects and adjusted 118 existing investment projects with a total newly granted and increased capital of VND 28,072.80 billion; an increase of 41.33% in the number of projects and 2.92 times in the total registered investment compared to the same period in 2020.
Currently, many large corporations and investors have come to explore investment opportunities in Nghe An province, such as Nha Trang Bay Construction Investment Joint Stock Company, APEC Group, Huali Group, Mobifone Group, Zuru Group, Viettel Group, Vinh Central Investment Joint Stock Company, Vietnam Tobacco Corporation, AEON Mall Group, etc. This is the result of the efforts to improve the investment and business environment and to support businesses and investors by the provincial government, departments, and localities.
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| The conference was held both in-person and online, featuring numerous speakers and experts in the field of investment attraction. Photo: Tien Dong |
However, compared to the potential and advantages of the locality,attracting major investorsRegarding investment promotion in Nghe An, many obstacles and difficulties are still being encountered, and the effectiveness of investment promotion efforts has not yet met expectations.
At this conference, participants also had the opportunity to hear many valuable experiences from localities and units in investment promotion.
Ms. Vu Thi Kim Chi, Deputy Head of the Quang Ninh Investment Promotion and Support Board, shared that Quang Ninh has long recognized the crucial role of investment promotion in showcasing its image and attracting large businesses to invest in the province. Quang Ninh has developed a closed-loop investment promotion process, closely following the investor's journey from the initial invitation to the point where the investor decides to implement a project in the province.
In addition, the Quang Ninh Investment Promotion and Support Board has advised the province to establish an Investor Care and Support Team. Simultaneously, it regularly monitors, urges, and reports to provincial leaders on the progress of project implementation. It also promotes on-site investment promotion and in-depth investment promotion with major partners such as South Korea and Japan.
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| Construction begins on the Goertek factory project in the Hemaraj Industrial Park. Photo: Pham Bang |
Regarding investment promotion strategies, especially for demanding markets, it is necessary to develop a comprehensive set of documents and a prioritized list of investment opportunities that are specific and detailed, creating a list of projects attractive enough to investors. At the same time, thorough research into the target market is crucial to effectively persuade the province to attract investment.
Ms. Tran Thi Hue, Deputy Director of the Northern Investment Promotion Center, Foreign Investment Agency, stated that, given the complex developments of the Covid-19 pandemic, FDI flows have shifted significantly. Large investors have considered moving capital to safer markets to diversify risks, including the Asian region. If this capital shift occurs, Vietnam will also be one of the countries that benefit.
Ms. Hue also assessed Nghe An as a locality with many favorable conditions to attract investment, in addition to having complete transportation infrastructure and industrial park and economic zone infrastructure. However, to achieve major breakthroughs, Nghe An needs to urgently develop and announce an economic recovery plan and a reopening plan that closely reflects the new situation. It is necessary to promptly adjust overlapping and inappropriate regulations to effectively direct the work of preventing and controlling the Covid-19 epidemic in the area, helping investors have a safe "environment" to develop production and business. It should proactively understand and address proposals from businesses in the area regarding the reopening of production and business activities, ensuring compliance with epidemic prevention and control regulations. Regular monitoring, exchange, inspection, and urging of relevant departments and agencies during the implementation process are crucial for timely and appropriate adjustments.
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| Citizens complete procedures at the Public Administrative Service Center of Nghe An province. Photo: Tien Dong |
Ms. Hue also emphasized that Nghe An needs to adjust its investment promotion activities towards a unified, focused, and nationally targeted approach, demonstrating interdisciplinary and inter-regional cooperation, linked to specific markets, investment partners, and projects. It needs to proactively propose important sectors, projects, and large corporations that require investment, and then develop implementation plans, from research, approach, support, and surveys, to carrying out investment procedures and post-investment support.
Improve your DDCI score.
One of the key issues contributing to improving the effectiveness of investment attraction isenhance competitivenessof the province compared to other localities. According to many experts, in order to improve the Provincial Competitiveness Index (PCI), it is first necessary to improve the competitiveness of departments and sectors (DDCI).
Sharing his views on this issue, Dr. Nguyen Phuong Bac, Director of the Institute for Economic and Social Development Research of Bac Ninh province, stated: The DDCI index is a measure of the quality of local governance and has a significant impact on improving the PCI index. Therefore, it is necessary to build an internal evaluation system (organizational evaluation, staff evaluation) and an external evaluation system (measuring effectiveness). A benchmark must be established to assess the effectiveness of the departments and agencies. Feedback and evaluations from citizens regarding state agencies should be gathered through interactions, accountability, and other activities.
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| Overall perspective of the Hemaraj Industrial Park Project. Photo: BNA archives. |
Mr. Hoang Vinh Truong, Deputy Director of the Investment, Trade and Tourism Promotion Center of Nghe An province, said: From the beginning of 2020 until now, the impact of the Covid-19 pandemic has greatly affected the socio-economic development of Vietnam in general and Nghe An province in particular.
Through proactive and flexible leadership and management, and the synchronized implementation of solutions, the province's "dual goals" of both preventing and controlling the epidemic while restoring and developing its socio-economic activities have seen significant progress. Investment promotion activities, in particular, have been reformed to be more flexible, with increased application of information technology and digital transformation. As a result, Nghe An's investment attraction in 2021 showed many positive aspects; compared to the same period in 2020, the number of investment projects in Nghe An increased by 30.5%, and the total investment increased 4.97 times.
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| Mr. Hoang Vinh Truong, Deputy Director of the Nghe An Investment, Trade and Tourism Promotion Center, believes that organizing this conference has contributed to improving the level, expertise, and skills in investment promotion. Photo: Tien Dong |
Mr. Truong also assessed that organizing the conference "Exchanging experiences in investment promotion and support for domestic and foreign investors," both in-person and online, has contributed to improving the level, expertise, and skills in investment promotion. Through the opinions of experts, the team of those working in investment support and promotion in Nghe An will be able to update their knowledge on international economic integration and its impact on investment promotion methods, while also assessing the impact of the COVID-19 pandemic on the trend of FDI capital flows and recommending preparations for Nghe An province. "Not to mention, this activity also contributes to strengthening regional cooperation in investment promotion, trade, and tourism, aiming to leverage resources and advantages among localities with many innovations in attracting investors," Mr. Truong emphasized.