Drawing More Investment, Tapping Potential, Advantages

Nghe An has a favourable geo-economic location as it lies in the northern central region and on the North-South and East-West exchange routes and shares a 419 km borderline (the longest in the country) with Laos with four border gates. According to the Government’s decision, Vinh City, a first grade urban zone, will be developed into an economic and cultural centre of the North Central Region. Being the largest province in Vietnam (16,499.25 square kilometres) with a diverse terrain consisting of sea, plains and mountains, Nghe An province has abundant minerals, vast forests, a long coast, and huge resources for high-tech agriculture, processing industry, forest economy and marine economy.

 

Infrastructure system and support services are invested synchronously with all forms of infrastructure like roadway, railway, airway (Vinh Airport) and waterway (Cua Lo and Dong Hoi ports). Vinh Airport is the main airport of the North Central Region. Power supply and water supply systems, postal - telecom services, financial and banking services, education and training institutions, and healthcare services meet demands of citizens and businesses. Tourism and entertainment infrastructure has been invested for upgrading. Nghe An is an educational and training centre of the North Central and of Vietnam which supplies abundant high-quality human resources for development. The province is a major market for all goods and services.

 

Besides, Nghe An has rich tourism potential as it is the hometown of President Ho Chi Minh - a world cultural celebrity, the starting point of the "Central Heritage Itinerary" with many beautiful beaches, West Nghe An Biosphere Reserve with many primary forests, and attractive ecological regions in addition to rivers, lakes, dams, waterfalls, caves, and historical relics.

 

In agriculture, forestry and fisheries, in May 2015, the province directed farmers to tend spring crops, and prevent drought and disease outbreaks. The total arable area in the winter-spring season was estimated at 233,152.2 ha, 2.97 percent larger than the same period. Particularly, the spring crop area was 190,814.4 ha, 1.94 percent larger than a year earlier. The total area of planted trees was 6,023 ha in the first five months of 2015, an increase of 2.14 percent from a year earlier.

 

The area of tended forests reached 27,500 ha in the five-month period. Timber output was estimated at 25,400 cubic metres in May, up 5.83 percent over the same period of last year, bringing lumber output to 95,400 cubic metres in the first five months, up 10.35 percent year on year. Aquatic and seafood output was estimated at 15,234 tonnes in May 2015, an increase of 7.34 percent. In the first five months, the province caught 58,807 tonnes, up 6.6 percent year on year.

 

Industrial production is recovering at a slow pace and businesses are in difficulty. The index of industrial production in May 2015 decreased 11.53 percent against April but rose 10.78 percent over May 2015. The index climbed 9.16 percent year on year in the first five months of 2015, of which mining industry expanded 5.91 percent, industry and manufacturing industries enlarged 9.64 percent, and electricity and water production and distribution industry increased 8.73 percent. Some industrial products increased sharply in May from a year earlier, including tin (15 percent), construction rock (22.42 percent), bricks (3.02 percent), granite tiles (82.08 percent), cement (19.62 percent), and fresh milk (20.76 percent). Cumulatively in five months, some industrial products had high growth rates, such as production electricity (840 million kWh, up 10.96 percent), commercial electricity (858 million kWh, up 8.61 percent), fresh milk (67.21 million litres, up 65.82 percent), fibre (5,752 tonnes, up 10.59 percent), knitwear (6.054 million pieces, up 7.45 percent), construction stone (up 11.4 percent), cement (776,810 tonnes, up 30.32 percent), granite (1.039 million square metres, up 43.31 percent).

 

Retail revenue was estimated at VND3,313.52 billion in May, up 8.78 percent from a year earlier, and VND16,492.01 billion in the first five months, up 10.72 percent year on year. Service revenue (exclusive of accommodation, catering and tourism services) was projected at VND331.1 billion in May, up 8.58 percent year on year, and VND1,640.24 billion in the January-May period, up 4.86 percent year on year. Operating revenue from lodging, catering and travel was forecast at VND482.69 billion in May, up 9.7 percent year on year, and VND2,025.76 billion in the January-May period, up 9.2 percent year on year. Merchandise export revenue was estimated at US$34.92 million in May, up 11.48 percent, and US$159.44 million in the five months, up 7.33 percent. Import turnover was forecast at US$28.48 million in May, up 4.85 percent, and US$113.32 million in the five months, up 7.27 percent.

 

Export-driven commodity export industry, particularly products that meet the Trans-Pacific Partnership (TPP) Agreement, consumer goods; clean industry and high-tech application industry; supporting industries: manufacturing of electronic and telecom equipment, automation equipment.

 

Mechanic engineering and manufacturing industry: Metallurgy, electronic circuit board assembly; automobile, motorcycle and equipment production and assembly; textile - apparel and high-tech supporting industries.

 

Processing industries supplied by local agricultural, forestry and fishery products; beverage industry (brewery and beverage production); production of medical equipment, medicines, pharmaceuticals, veterinary drugs and plant protection drugs; construction material production industries: cement, cement-based building material, artificial granite stone and white stone processing.

 

Business centres and hypermarkets, with priority given to investors with nationwide and worldwide systems; financial, banking and insurance services; logistics and warehousing services; ecotourism parks, resorts, luxury hotels (5-star); premium amusement parks; ecological restaurant systems, and tourism-serving standard restaurants.

 

Food crops, fruits and vegetables, ornamental plants, pineapples, oranges, coffee, rubber, tea, cassava, sugarcane, medicinal plants, high-tech agriculture adaptable to climate change, and other staple crops.

 

High-quality livestock, poultry and aquaculture farming, with priority given to processable and consumable products; forest protection projects, and inputs for processing industries