USD 200 million projects receives Decision on Investment Policy in Nghe An

Mr. Nguyen Duc Trung - Deputy Secretary of Nghe An Provincial Party Committee, Chairman of Nghe An People's Committee presented the Decision on investment policy of "Electronic equipment and components manufacture project" to Mr. Tu Qj Jiang - Director of Luxshare - ICT Co., Ltd. Photo: Hoang Nam

On February 5, in Quy Nhon City, Binh Dinh Province, the Ministry of Planning and Investment in collaboration with ministries, sectors and localities organized the Conference on Investment Promotion and on the action plan to implement Resolution No. 26-NQ/TW of the Politburo on the direction of socio-economic development and national defense assurance, security of the North Central region and central coast to 2030, vision to 2045 with the theme "Linkage - Breakthrough from the marine economy - Fast and sustainable development".

This is a "three-in-one" conference, held not only for the purpose of announcing the Government's Action Plan to implement Resolution No. 26-NQ/TW dated November 3, 2022 of the Politburo, but also concretizing the Resolution with specific implementation resources through the form of investment promotion, call for the attention of investors, domestic and international business associations and development partners in accompanying the Government to implement investment programs and projects that are important for the socio-economic development of the North Central region and the Central Coast.

Accordingly, at the Conference, there was a ceremony to present cooperation agreements on sustainable development in the North Central region and the Central Coast between the Ministry of Planning and Investment and development partners, as well as memorandums of understanding, investment registration certificates for domestic and foreign investors.

At the conference, under the witness of Prime Minister Pham Minh Chinh, leaders of ministries, branches and 14 provinces and cities in the North Central region and central coast, Mr. Nguyen Duc Trung - Deputy Secretary of Nghe An Provincial Party Committee, Chairman of Nghe An People's Committee handed over the Decision on investment policy of "Electronic equipment and components manufacture project" with a total investment of USD 150 million for Luxshare - ICT Co., Ltd. and presented a Memorandum of Understanding on investment cooperation of "Industrial real estate construction project including international standard ready-built factories and warehouses in the Southeast Economic Zone, Nghe An province" with a total expected investment of USD 50 million for Indochina Kajima Capital Group.

In recent years, especially in 2022, Nghe An's investment attraction, especially foreign direct investment attraction, has had many reforms and achieved positive results in all 5 aspects: The number of FDI projects increased sharply; registered investment capital exceeded the set target; the structure of investment attraction shifted towards increasing the number of projects and registered capital for foreign direct investment; The investment sector shifted significantly to industrial production and the areas attracting investment mainly focused on the Southeast Economic Zone and industrial parks, which are the growth engine of the province.

In 2022, the total amount of new and adjusted capital is VND 45,764.5 billion, exceeding the set target; In particular, the amount of FDI invested in Nghe An at a new and adjusted level reached more than USD 961.3 million, bringing the province to the top 10 localities attracting the largest FDI in the country for the first time.