Nghe An teams up with BIDV to host major investor meeting this month

Nghe An has posted enviable achievements in investment attraction in the past five years

The event is expected to attract about 700 participants, including leaders of the Party and the state, several central and local management agencies, and nearly 500 representatives from organisations, domestic and foreign businesses, business associations, and diverse media agencies.

The one-day meeting will feature speeches by organisations, businesses, and investors. Notably, the event will see investors receive certificates of their new investment projects or approval of their investment project proposals.

Businesses with outstanding investment achievements last year will be praised at the event, besides those who have finalised their investment projects in 2018 or begin to launch new ones in 2019.

Besides the major conference, a string of significant activities will take place on the side-lines, including the inauguration ceremony of a fresh water and fruit juice plant of privately-held TH Group in Nghia Son commune, Nghia Dan district; the launching of the DKC general petrol depot in Nghi Thiet commune, Nghi Loc district of Thien Minh Duc Group JSC; and the launching of the Vinh-Bangkok air route as well as bringing the international terminal at Vinh Airport into operation.

On February 24, there will be a conference discussing the implementation of the prime minister’s Decision No.17/QD-TTg dated January 4 approving the pilot project on turning Nghe An province’s Nam Dan district into a new-style rural district and promoting investment at Nam Dan Sports and Culture Centre.

In the wake of previous successful investor meetings, a slew of major investors and groups have landed investment projects in the province, such as leading private conglomerates Vingroup, Masan, BRG, T&T, TH, The Vissai, Hoa Sen, Muong Thanh, and Vinamilk, to name but a few.

Several technology- and capital-intensive projects have come into operation and provided numerous jobs to the local workforce. For instance, TH Group has received investment certificates for 10 projects valued more than VND12 trillion ($521.7 million) and The Vissai poured VND12.166 trillion ($529 million) into cement projects in the province, with two projects valued at a total of VND11.647 trillion ($506.4 million) already in operation.

Last year Nghe An licensed 114 projects of domestic and foreign investors valued at more than VND9.119 trillion ($396.5 million), and approved for eight existing projects to raise investment capital by an additional VND1.279 trillion ($55.6 million).

Major projects included the $72 million beer and beverage plant of Masan Group at Nam Cam Industrial Zone’s Zone B, the $44.5 million Trung Do building material manufacturing complex in Nghi Loc district, the $20 million Biomass Fuel Vietnam plant, and the $11.8 million Em-Tech Vinh plant at VSIP Nghe An, and more.

Since 2014, the province has attracted 150 projects with the investment capital surpassing VND100 million ($4.4 million) per each project, with the combined capital value reaching VND89.141 trillion ($3.88 billion).

The 128 projects that have been put into operation and are in the development pipeline account for 86 per cent of the total.