Implementing good solutions to attract foreign investment

(Baonghean) - Attracting foreign direct investment (FDI) projects plays an important role in the economic and social development of the province.Nghe AnComrade Le Ngoc Hoa - Vice Chairman of the Provincial People's Committee shared information about this field.

Officials of the Southeast Economic Zone introduce investment potential in Nghe An to foreign investors. Photo: Nguyen Son

PV:Could you please tell us what results have been achieved in attracting foreign investment in Nghe An so far?

Comrade Le Ngoc Hoa:In recent years, the Provincial People's Committee has directed the implementation of many solutions to create a favorable environment to attract foreign direct investment projects. Up to now, the province has attracted 75 FDI ​​projects, of which 58 are still valid with a total registered capital of 1,637.76 million USD. FDI investment projects in the province mainly focus on the fields of processing, manufacturing, mechanics, electronic components production, and textiles.

Regarding investment attraction, the province is focusing all resources to attract secondary investors to VSIP Nghe An Industrial, Urban and Service Park, continuing to support the early implementation and completion of projects: Hemaraj Industrial and Urban Park (Thailand) in the Southeast Economic Zone, Vissai General Port, Cua Lo Deepwater Port, Dong Hoi Deepwater Port. These are important infrastructure projects that create momentum to attract investment in other projects in Nghe An province.

PV:Among the countries with businesses investing in Nghe An, up to now, Korea has the highest number of projects and registered capital. So, in your opinion, how should Nghe An continue to attract Korean businesses to invest in Nghe An province?

Investment from Korea in Nghe An accounts for 35.5% of total FDI projects. Graphics: Tien Vien

Comrade Le Ngoc Hoa:FDI attraction in Nghe An has so far mainly come from Asian countries, such as Korea, Japan, Singapore, Thailand, each partner is associated with a specific field of attraction. In particular, Korea is the leading country in the number of FDI projects (12/35 projects), mainly in the fields of electronic components manufacturing, telecommunications, information technology, and garment. Recently, more Korean enterprises have continued to come to Nghe An to survey and research investment, which is a good opportunity for the province to take advantage of attracting FDI investment, contributing to promoting economic and social development.

The province is synchronously implementing many solutions to attract foreign investment from traditional countries, including Korea. Currently, the province is coordinating with KV Holdings JSC (Korean Enterprise) to organize a number of activities to introduce and promote the image of Nghe An to partners and businesses in Korea in October to attract and call for investment in Nghe An.

Priority areas for calling for and promoting investment include: Manufacturing spare parts and assembling automobiles; manufacturing electronic equipment and components, telecommunications, information technology, medical equipment, pharmaceutical production, investment in industrial park infrastructure, etc. The area focuses on investment mainly in the Southeast Economic Zone, industrial parks, and industrial clusters in the province. This is one of the key tasks in implementing the province's investment promotion plan in 2016.

PV:With that event, in your opinion, what results will it bring in continuing to attract investment from Korea to Nghe An?

Comrade Le Ngoc Hoa:In the upcoming event in Korea, the province has a working program with the Kaesong Industrial Complex Council of Korea, the Korea Health Industry Development Institute (under the Korean Ministry of Health), the Korea Chamber of Commerce and Industry, and is expected to have over 50 businesses and investors from Korea attending.

Comrade Le Ngoc Hoa presents gifts to representative of KV Holdings Company (Korea)

Through this working program, we will introduce and promote the image, potential and strengths of Nghe An province, investment incentives, and current investment attraction sectors of the province so that investors and enterprises in the Kaesong Industrial Park of Korea will be interested in and study investment opportunities in Nghe An province. We hope that through these activities, we will attract more Korean enterprises and investors to be interested in and study investment opportunities in Nghe An, contributing to the implementation of the growth target of attracting FDI investment into the province in the period of 2016 - 2020.

PV:Thanks comrade!

Nguyen Son(Perform)