Investors urged to choose Nghe An

A view of Vinh City in Nghe An Province.-File Photo

In his speech at the annual event, National Assembly Chairman Nguyen Sinh Hung spoke highly of Nghe An's investment attraction results in recent years. He said the province has met investors' expectations in term of policies, infrastructure facilities and services and many of them have been operating effectively in the locality.

Meanwhile, Deputy Prime Minister Nguyen Xuan Phuc suggested the province take full advantage of its potential while perfecting its investment climate to attract more investors.

Local authorities said the investment attraction would be a driving force for the province's socio-economic development. They committed to bettering the province's investment environment, with a focus on speeding up the administrative reforms, improving infrastructure and services, and solving investor difficulties.

During the meeting, the Nghe An People's Committee granted investment licences to 10 projects worth a combined VND3.56 trillion (US$158.5 million).

The event also saw five other Memorandums of Understanding worth more than VND61.53 trillion (over $2.73 billion) signed between the committee and investors.

Positive investment

The central province attracted investment of VND150 trillion (more than $6.6 billion) from 2010 to 2015, according to Provincial Department of Planning and Investment Director Nguyen Van Do.

From 2010 to 2015, levels of investment capital registered in the province more than doubled figures seen in the previous two years, Do said.

He attributed this encouraging performance to greater efforts by local authorities and other sectors to accelerate administrative reforms. They reduced the time and expenses required to complete investment procedures, which has helped investors.

The province will focus on attracting projects that can use advanced technology and create more local jobs. It will seek investors with sufficient financial capacities and a commitment to corporate social responsibility, he added.

The central province has set a target of attracting some VND100 trillion (more than $4.44 billion) in investment from now until 2020, including VND50 trillion in foreign direct investment.