The Chairman of Nghe An said that to promote FDI attraction from the perspective of regional connectivity, the three provinces of Thanh Hoa, Nghe An, and Ha Tinh "must cooperate for mutual benefit and win-win".
The message was delivered by Mr. Nguyen Duc Trung, Chairman of Nghe An province, at the conference to review one year of implementing the memorandum of understanding on development cooperation between the three provinces of Thanh Hoa, Nghe An, and Ha Tinh in 2023, held in Cua Lo town on the morning of December 10.
Mr. Trung said that attracting foreign direct investment (FDI) is an important resource, contributing to promoting economic restructuring and boosting import and export. This is a resource for localities to have conditions to achieve development goals.
According to him, many years ago, Nghe An was not an attractive destination for foreign investors, but recently there have been very positive changes. In 2022, Nghe An reached nearly 1 billion USD in FDI capital, in 2023 it reached nearly 1.5 billion USD. Thereby, for 2 consecutive years, this province has been in the list of 10 localities attracting the highest FDI capital in the country.
Mr. Nguyen Duc Trung, Chairman of Nghe An province, shared about ways to attract FDI projects at the conference. Photo: Kim Oanh
Sharing his experience, Mr. Trung said that Nghe An has prepared for planning, infrastructure, investment sites, resources, administrative procedure reform, and investment environment quality. The province always accompanies, supports, and considers investors' difficulties and problems as the province's to resolve procedures correctly and quickly, with some projects only granting investment registration certificates within 5 working days.
The Chairman of Nghe An province analyzed that to promote FDI attraction from the perspective of linking the three provinces and regional links, "mutually beneficial and win-win cooperation is needed, and if you want to go far, you have to work together". Accordingly, it is necessary to effectively link shared infrastructure and develop infrastructure to serve socio-economic development to improve cooperation efficiency, especially linking South Thanh Hoa, North Nghe An and South Ha Tinh.
"The three provinces all have abundant human resources, hard-working and intelligent workers, but in addition, vocational training should be enhanced to meet requirements and ensure FDI attraction," said Mr. Trung. According to him, linking in issuing policies to attract investment in economic zones with similar development conditions is very important to perfect the investment environment and policies,"
VSIP Nghe An Industrial Park, which attracts dozens of FDI projects in the province. Photo: VSIP
The leaders of Thanh Hoa and Ha Tinh provinces also agreed with the view that it is necessary to increase FDI attraction, saying that promoting the connection between the three provinces of the North Central region is completely in line with the development trend. First of all, this region needs to unify cooperation, create a new development space with cohesion, especially allowing localities to optimize results thanks to the advantage of economic scale in the context of limited resources.
Mr. Tran Duy Dong, Deputy Minister of Planning and Investment, said he supports the three localities in building regional policy mechanisms, promoting investment, supporting investment promotion, especially the development linkage of South Thanh Hoa - North Nghe An and South Nghe An - North Ha Tinh.
According to Mr. Dong, the three provinces need to coordinate with the Ministry in developing, appraising and approving the planning for the North Central and Central Coast regions for the 2021-2030 period, with a vision to 2050, in order to more clearly identify the potentials and advantages of the localities, forming industrial and energy linkage chains...
Nghi Son 2 Thermal Power Plant, the second largest FDI project in Thanh Hoa. Photo: Le Hoang
In 2023, Thanh Hoa's gross regional domestic product (GRDP) growth rate is estimated at 7.01%, ranking 29th in the country; GRDP scale reaches 272,950 billion VND, ranking 8th. The growth rates of Nghe An and Ha Tinh are 7.14% and 8.05% respectively (ranking 26th and 15th); GRDP scale reaches 195,199 billion VND and 102,500 billion VND.
Thanh Hoa currently has 150 valid FDI projects, with a total investment capital of over 14.6 billion USD. Nghe An has attracted 133 FDI projects from 14 countries and territories, with a total registered investment capital of over 4 billion USD. Ha Tinh has 68 FDI projects with a total registered capital of 16 billion USD (equivalent to 317,000 billion VND).
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