Economy

Attracting FDI - Nghe An's spectacular breakthrough

Pearl / Technique: Hong Toai • DNUM_ADZAJZCACF 10:26

In recent years, Nghe An has made a spectacular transformation, becoming one of the bright spots in attracting FDI in Vietnam. This success is a testament to a comprehensive, focused development strategy, with a long-term vision and synchronous local action.

Pearl /Technique:Hong Toai• 09/03/2025

After a period of implementing extensive reforms, redefining strategic position and reshaping development strategy, the investment landscape in Nghe An has changed significantly.

By the end of 2024, the whole province had attracted nearly 1.75 billion USD of FDI capital, rising to rank 8th out of 63 provinces and cities nationwide. By the end of July 2025, Nghe An attracted more than 16,400 billion VND of investment capital, of which nearly 300 million USD came from the FDI sector; There were 8 newly licensed projects with a total registered capital of 76.2 million USD and 7 capital increases with a total value of up to 215.9 million USD. To date, Nghe An has 169 valid FDI projects with a total registered capital of more than 5.6 billion USD.

These impressive figures not only show the growth in "quantity", but also reflect the "quality" and depth of investment capital flows into Nghe An, with the appearance of many large, high-tech corporations, strongly spreading the impact to the local economy.

Nghe An's success in attracting FDI does not come from luck, but is the result of a carefully prepared strategy, called "5 readiness" - the foundation for the province to emerge as a locality with an attractive investment environment.

Mr. Le Tien Tri - Head of the Management Board of the Southeast Nghe An Economic Zone said: "5 readiness"firstis a ready investment ground. The Southeast Economic Zone - the driving force of industrial development has been expanded to more than 80,000 hectares, of which about 15,000 hectares are reserved for industrial parks. This is a large clean land fund, ready to serve large-scale FDI projects, especially high-tech corporations.

Monday,Nghe An is ready with synchronous infrastructure - a key factor to attract FDI. Nghe An has been investing heavily in Cua Lo seaport, upgrading Vinh international airport, expanding the road and railway transport system, creating a convenient logistics network, meeting the needs of transportation and trade domestically and internationally.

Tuesday,Prepare abundant and quality human resources, coordinate and combine with vocational schools, colleges, districts, cities and towns to introduce and supply labor to factories and businesses.

The investment environment has been strongly reformed, the province has implemented many new models such as "one-stop shop", "one-stop shop", reducing the time to handle investment procedures, and at the same time, applying digital transformation to make the process transparent. Some projects have been granted Investment Certificates. In addition, Nghe An is ready to provide legal support and accompany investors throughout the project implementation period.

Selecting investors is a priority. Many high-tech corporations such as Foxconn, Luxshare, Goertek, Everwin, Juteng... have invested in Nghe An with a total capital of over 1.3 billion USD, creating more than 86,000 stable, high-quality jobs. The province proactively adjusts the planning of industrial parks, ensuring synchronization between land, traffic, environment and social utilities. Thanks to that, projects are not only implemented quickly but also sustainable in the long term. The locality has established a mechanism for periodic dialogue, quickly removing difficulties, ensuring a stable and friendly investment environment. This companionship builds great trust from domestic and foreign investors.

Chairman of the Provincial People's Committee Le Hong Vinh said: "The recent FDI attraction results are the result of the entire political system focusing on the investment attraction strategy, demonstrating a new breakthrough, a new mark in socio-economic development, and economic restructuring of Nghe An on the national and regional map. Nghe An's 3 consecutive years in the top 10 in FDI attraction shows the effectiveness in administrative reform, improving competitiveness and being an attractive destination for investors. This is the result of many terms, especially this term, along with Nghe An's commitment to accompany and support investors."

Nghe An province has developed a plan for FDI development in the 2025-2030 period, with large but clear goals. Accordingly, in the 2025-2030 period, Nghe An will establish 8-10 new industrial parks, with a total area of ​​about 2,800-3,000 hectares; attract 5-6 billion USD of FDI capital, focusing on high-tech, clean production and high value-added industries. The total investment capital for infrastructure construction in economic zones and industrial parks will reach about 15,000 - 20,000 billion VND. By 2030, businesses in the Southeast Economic Zone and industrial parks are expected to contribute to the budget about 25 - 30% of the total budget revenue in the province. It is expected to create jobs for about 120,000 - 150,000 workers by 2030.

Nghe An will develop an ecological industrial park, ensuring 100% wastewater treatment meets standards; turning the province into a high-tech industrial center, combining digital transformation, innovation and green development.

Those big directions are being passed on to investors and gaining strength in the current context.

In addition, Nghe An strives to complete 19,500 social housing units and industrial park worker accommodation units according to the Project target "Investing in the construction of at least 1 million social housing units for low-income earners and industrial park workers in the period 2021-2030".