In addition, the fields of green production, new technology, and supporting industries also strengthen the comprehensive development foundation for localities in the region.
To accompany investors, the north-central provinces have prepared land funds to implement projects, essential infrastructure, and human resources. The provinces also actively reformed and substantially improved the investment environment, accompanying and supporting businesses to expand investment attraction opportunities, especially foreign direct investment (FDI).
Creating international standard industrial park ecosystem
According to the Head of the Investment Management Department (Management Board of Ha Tinh Economic Zone) Vu Ngoc Thanh, along with proactively approaching many large economic corporations at home and abroad to invite investment, Ha Tinh Province continues to promulgate and adjust new attraction policies, to accompany businesses throughout the production and business process.
Therefore, a series of reputable and capable investors have chosen the Vung Ang Economic Zone as a destination to expand the scale of investment, production and business.
Typically, the VinES Vung Ang Battery Manufacturing project of VINES Ha Tinh Energy Solutions Joint Stock Company, with a total investment of 3,784 billion VND, has come into operation.
The investment project of lithium battery technology manufacturing and the trading factory of V-G High-tech Energy Solutions Co., Ltd. has a total investment of more than 6,300 billion VND. The project is expected to be completed and put into operation in the third quarter of 2024, with a capacity of 30 million LFP rechargeable battery cells per year.
The birth of these two projects is an important "push" that contributes to promoting the sustainable economic and social development of Ha Tinh.
In Nghe An Province, the appearance of VSIP Nghe An Industrial-Urban and Service Park, phase 1 (known as VSIP Industrial Park 1), also opens up growth opportunities.
According to Deputy Director of VSIP Nghe An Co., Ltd. Nguyen Hong Nguyen, VSIP Industrial Park 1 has an investment capital of nearly 280 million USD, with synchronous and modern technical infrastructure. It meets international standards in the direction of green, and environmentally friendly development near vital roads, attracting large corporations and investors globally.
After over eight years of operation, VSIP Industrial Park 1 has attracted 48 investment projects, including 28 FDI projects. It is expected that when all factories come into operation, they will create jobs for about 70,000 workers.
In 2024, the unit will deploy the VSIP Nghe An 2 project, with an area of 500 hectares in Tho Loc Industrial Park, Dien Chau District. Nghe An has signed investment commitments with three large corporations related to electronics, high-end textiles and garments, with a capital of more than one billion USD.
Actively looking for investors
Chairman of Nghe An Provincial People's Committee Nguyen Duc Trung, said that to proactively invite strategic investors to produce and do business the province has prepared five factors. This includes planning, connecting infrastructure, clean premises, human resources and administrative procedure support, to create the most favourable conditions for businesses to invest in the province. This is considered a message affirming the strong commitment of the provincial leaders to domestic and foreign investors.
It is worth noting that in recent times, the leaders of Nghe An and Ha Tinh provinces, along with localities and related industries, have spent time paying attention to solving difficulties and problems for investors. They have focused maximum resources, invested in upgrading transportation infrastructure systems, ensuring connectivity, and creating necessary and favourable conditions, to help industrial parks become attractive destinations.
In addition, working groups from the two provinces have accompanied industrial park investors who have set up working groups in China, Japan, the Republic of Korea, the EU, and the US, to meet with corporations, large companies, business and trade associations, to help them proactively seek and expand opportunities to attract FDI investment.
“Ha Tinh has been making efforts to create an open, friendly, favourable investment environment, exploit potential advantages, promote resource mobilisation to invest in upgrading infrastructure, especially connecting transport infrastructure, infrastructure of industrial zones, clusters and seaports, to create a foundation to attract and effectively implement investment projects in the area", Chairman of the People's Committee of Ha Tinh province Vo Trong Hai added.
Recently, Vietnam-Singapore Industrial Park Joint Venture Company Limited (VSIP) started the infrastructure investment and construction project of Bac Thach Ha Industrial Park, with a total investment of more than 1,555 billion VND.
The scale of project land use (phase 1) is 190.41 hectares, in the two communes of Thach Lien and Viet Tien, in Thach Ha District.
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VSIP Nghe An Industrial Park. (Photo: THANH CUONG) |
According to the assessment of the Chairman of the People's Committee of Ha Tinh Province, this is a breakthrough in attracting investment and developing industry, associated with green growth and sustainable development goals. It makes an important contribution to increasing budget revenue, strengthening the province's internal resources for development investment, creating jobs and better solving social security issues, contributing to making Ha Tinh gradually become one of the poles of the development of the north-central and central coastal regions
The positive results of Nghe An and Ha Tinh recently have contributed significantly to motivating these provinces to speed up the pace of investment attraction. With Ha Tinh having the largest iron and steel complex in Southeast Asia, Nghe An has gradually formed an investor ecosystem in high-tech electronics, such as Foxconn, Goertek, Luxshare-ICT, Everwin, and TuTeng.
Nghe An currently has several large investors "landing" and in recent years has continuously been in the top 10 recipients of FDI in Vietnam.
2022 is the first year the province has attracted nearly one billion USD in FDI capital. By 2023, the province attracted more than 1.2 billion USD in FDI investment capital.
Nghe An has 312 valid projects, with a total registered capital of 168.7 trillion VND. Among them, are 89 FDI projects with a total registered capital of more than 4.1 billion USD.
With the strong investment attraction of industrial parks and economic zones, along with clear, open and accompanying mechanisms and policies of localities, Nghe An and Ha Tinh continue to become attractive investment destinations for investors, especially corporations with global brands. This will soon help to turn these north-central provinces into production centres for the electronics industry, manufacturing, high-tech industry, and precision engineering of the country and the region.
