Nghe An sees investment of $6.6b

The model of the Viet Nam-Singapore Industrial Park in Nghe An. - File Photo

This was announced by the director of the provincial Department of Planning and Investment, Nguyen Van Do.

In the 2010-15 period, levels of investment capital registered in the province more than doubled the figure seen in the two previous years, with some large-scale projects licensed, such as Hoa Sen steel sheet factory, Quynh Lap 1 thermo-electricity plant, the Song Lam cement factory, the Vingroup trade and service complex, and the Viet Nam-Singapore Industrial Park (VSHIP) Nghe An, according to the director, as quoted by baodautu.vn.

He attributed this encouraging performance to greater efforts by local authorities and other sectors in accelerating administrative reforms, especially reducing the time and expense required to complete investment procedures, in order to better assist investors.

In the future, the province will focus on attracting projects that can use high-end technology and create more local jobs, while seeking investors with sufficient financial capacities and a commitment to corporate social responsibility, he added.

Earlier, the central province said it had 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 (FDI).

To achieve this aim, the province will carry out measures to lure investment, as Nghe An considers it a key task in spurring local socio-economic development.

Besides facilitating the operations of investors by zoning land for them, offering them incentives and assisting them in recruiting workers and sourcing building material, the province will continue improving its investment environment with the aim of becoming one of the top 30 provinces and cities in the country, based upon the provincial competitiveness index.