According to the Foreign Investment Agency, Ministry of Planning and Investment, as of June 20, 2022, Nghe An ranked 9th out of 10 localities attracting the highest foreign direct investment (FDI) in the country in the first 6 months of 2022.

On the morning of June 29, 2022, the Standing Committee of Nghe An Provincial Party Committee held a regular meeting in June 2022. Photo: Thanh Duy

Mr. Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Delegation of National Assembly deputies, Chairman of the Provincial People's Council chaired the meeting. Attending the meeting were Mr. Nguyen Van Thong - Standing Deputy Secretary of the Provincial Party Committee; Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; representatives and leaders of Central Party Committees, members of the Standing Committee of the Provincial Party Committee and a number of departments and branches.

At the regular meeting of the Provincial Party Committee, Deputy Secretary of the Provincial Party Committee and Chairman of Nghe An Provincial People's Committee Duc Trung revealed that since the beginning of the year, the province has attracted USD 580 million in foreign direct investment (FDI), this is the highest number ever; in which investment projects in the Southeast Economic Zone is USD 550 million and outside the Southeast Economic Zone is USD 30 million.

Overall, as of June 15, 2022, Nghe An attracting investment continued to achieve quite positive results with 50 new projects and 59 adjusted projects. Thereby, the total new and additionally granted capital is 26,435.4 billion dong, of which new capital is 13,256.7 billion dong. Compared to the same period in 2021, the number of new granted projects increased by 13.64%, the total new granted capital increased by 1.68 times.

According to the Foreign Investment Agency, Ministry of Planning and Investment, the 10 localities attracting the largest FDI in the first 6 months of 2022 (from January 1 to June 20, 2022) in order are: Average Duong, Ho Chi Minh City, Bac Ninh, Thai Nguyen, Hai Phong, Hanoi, Bac Giang, Long An, Nghe An, Dong Nai.

Comrade Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee spoke at the June 2022 regular meeting of the Provincial Party Committee's Standing Committee. Photo: Thanh Duy

Some major projects were newly granted and adjusted during the period such as: Investment in building social housing for workers and employees working in Nam Cam Industrial Park at position 3 of Solar Power Joint Stock Company Central MK with a total investment of 3,495.16 billion dong); investment in building social housing for workers and employees working in Nam Cam Industrial Park at position 04 of BMC International Trading Joint Stock Company with a total investment of 3,385.38 billion VND); Forest product processing factory, for domestic consumption and export in Zone D - Nam Cam Industrial Park of An Viet Phat Nghe An Energy Company Limited with a total investment of 1,277.32 billion VND; adjusting total investment 2 Factory manufacturing electronic products, network equipment and multimedia audio products in WHA Industrial Park of Goertek Vina Precision Industry Co., Ltd. increased by 400 million USD…

This is the result of Nghe An's breakthrough in attracting investment in general and foreign direct investment in particular in an effort to get out of the "low-lying area" to attract FDI.

In order to improve the investment and business environment, Nghe An has directed departments, agencies and sectors to effectively implement the Project on improving the business investment environment, enhancing the efficiency in attracting local province investment in the period 2021-2025 and the Nghe An enterprise development project to 2025.

Workers at Luxshare ICT Nghe An Co., Ltd in VSIP Nghe An Industrial Park. Photo: Thanh Duy

Nghe An also continues to prioritize allocating capital to complete key projects for investment attraction, accompany infrastructure investors to call for promotion of secondary investors.

The Department of Planning and Investment has been directed to build investment project management software, which is expected to launch in September 2022; compose a manual to guide the process of implementing investment projects in Nghe An province, Regulation on coordination of investment project management in the province.

At the same time, branches and localities have been commanded to promptly and synchronously deploy mechanisms and policies to support and remove difficulties for enterprises; regularly, proactively capture and solve difficulties and problems for investors and enterprises, improve the efficiency of on-the-spot investment promotion. Nghe An has also directed relevant departments, branches and units to report on analysis and clarification of components and parameters affecting the PCI index; discuss solutions to improve business investment environment in the province, increase PCI index in the coming time.