Nam Dinh: Creating competitive advantages in attracting FDI capital

By 2030, Nam Dinh has set a goal of becoming a fairly developed province of the country, an important development center of the Southern Red River Delta; in which, attracting foreign direct investment (FDI) is one of the important tasks. Recently, Nam Dinh has chosen its own direction to create a competitive advantage in attracting FDI.

Production at Top Textiles Company Limited (Rang Dong Textile Industrial Park, Nghia Hung). (Photo: Viet Du)

Actively attract investment

Statistics show that FDI inflows into Vietnam in 2023 and the first four months of 2024 will continue to grow strongly in the context of declining global FDI attraction. With its existing advantages, Nam Dinh has promoted the province's internal strength to meet industrial criteria and attract foreign investors.

According to Mr. Tran Anh Dung - Permanent Vice Chairman of Nam Dinh Provincial People's Committee, Nam Dinh currently has 170 FDI projects in operation, with a total registered investment capital of more than 4.1 billion USD. In 2023, the province attracted Quanta Computer Inc., one of the world's leading computer manufacturers from Taiwan (China), to invest in a project to produce computers and computer peripherals with a total registered capital of 120 million USD.

Next, Taiwan's JiaWei Group invested in building a factory to produce plastic products and melamine products with a total investment of 42 million USD; Xingyu Safety Technology Company (Singapore) with a total investment of nearly 84.5 million USD and signed an agreement with Sunrise Material Group (Singapore) to develop an investment project to build a factory to produce high-tech polymer coating film with a total investment of 100 million USD.

Mr. Truong Hong Duong, General Director of Phu Gia Biotechnology Company of Taiwan, shared that the unit has just proposed to invest in a high-tech agricultural production project associated with eco-tourism. The reason the company decided to choose Nam Dinh to invest in another project is because the province has a foundation in agricultural production; soil and ecological conditions are suitable for developing high-tech agricultural production. The company's goal is to develop and turn the investment project in Nam Dinh into a model for high-tech agricultural production in the whole of northern Vietnam.

Overcoming limitations

According to experts, the southern provinces of the Red River Delta still have limitations such as lack of land fund, lack of breakthrough mechanisms and lack of high-quality human resources in the industrial sector. Along with that, there are limitations in connectivity in transport infrastructure, production chain linkage, industry clusters in development corridors, linkage between domestic enterprises and FDI enterprises; limitations in ensuring water security and energy security; limitations in scale, management capacity, competitiveness of the business sector and in the strong application of science and technology, promoting startups, innovation and limitations in land management, environmental protection, and climate change prevention.

The Management Board of Industrial Parks of Nam Dinh Province said that to avoid the lack of clean land, the Management Board has advised the province to develop plans for new industrial parks. In addition, it has worked with infrastructure investors in Trung Thanh and Hong Tien industrial parks to complete investment project proposals and explain the contents as required by ministries and branches. It is expected that the land fund for attracting investment, especially FDI projects from these two industrial parks, can increase by about 300 hectares.

Many experts believe that there are many factors that affect investment attraction in the province such as technical infrastructure, human resources; quality of public services; investment policies... Among these factors, investment policies and human resources have the greatest impact on investors. By improving these two issues, localities in the southern part of the Red River Delta such as Nam Dinh province will have more opportunities to welcome abundant FDI capital, realize the aspiration to rise up, and complete the goal of socio-economic development.

According to daibieunhandan.vn

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