Nghe An Ready to Welcome Investors

 

Attracting more investment capital into Nghe An province and its economic zones is now priority development orientation of Nghe An province. Therefore, the province is seeking resources for better infrastructure construction and ensuring favourable conditions for investors. At present, the Authority of Dong Nam Economic Zone is speeding up infrastructure construction projects.

 

The traffic system in Section B is under construction. Kicked off in November 2014, the authority has completed settling the groundwork to open the traffic from Nam Cam - Cua Lo route to the fence of Northern Masan Food Industry Centre. Contractors is asphalted the road surface.

 

To ensure stable operations of new projects in Nam Cam Industrial Zone, power lines for Royal Food canned seafood processing plants, fresh food factories and cold storage facilities in Section B, Nam Cam Industrial Park construction have been completed. Rainwater drainage and sewage systems in Nam Cam Industrial Park were officially put into operation April 1, 2015.

 

The construction on the VND627.3-billion 56-metre wide Road D4, which runs 7.098 km through three communes of Nghi Yen, Nghi Tien and Nghi Thiet in Nghi Loc district, is being accelerated. Contractors have disbursed VND273 billion of project value, with completed items being water drainage system and road surfaces. Road N5 is also being constructed at a slow pace however. To speed up the progress of this project, the Provincial People's Committee urged the replacement of contractors.

 

Dong Nam Economic Zone has an initial area of 18,826.47 ha, including tariff zone of 650 ha divided into two sections: Section A with 525 ha starting from the south-southeast of Nam Cam Industrial Park to Cua Lo Port and Section B with 125 ha in the north of the Cua Lo River in Nghi Thiet commune which produces goods for export and domestic consumption, promotes trade, export and import, transit and provide commercial services. The tariff zone comprises industrial zones, urban zones, resorts, green areas, schools and residences.

 

In December 2014, the Prime Minister signed a decision to expand Dong Nam Economic Zone by another 1,200 ha, which formed Hoang Mai Industrial Park and Dong Hoi Industrial Park. Since the decision took effect on February 1, 2015, the economic zone has a total area of 20,026.47 ha.

 

The Prime Minister issued Decision 10/2015/QD-TTg dated April 3, 2015 on amendments and supplements to Clause 1, Article 2 on Dong Nam Economic Zone, Nghe An province appended to the Decision 21/2010/QD-TTg dated March 3, 2010 of the Prime Minister, which was amended and supplemented by Decision 67/2014/QD-TTg dated December 4, 2014 of the Prime Minister which was effective on June 1, 2015. Accordingly, Dong Nam Economic Zone will be enlarged by 750 ha of VSIP Nghe An Industrial Park in Hung Chinh commune (Vinh City) and Hung Tay, Hung Dao and Hung Nguyen communes (Hung Nguyen district). The total area of Dong Nam Economic Zone will reach 20,776.47 ha. The merger of VSIP Nghe An into Dong Nam Economic Zone will enable Nghe An province to draw more big investors into the economic zone.

 

This is an important factor for Becamex Binh Duong Corporation and Vietnam - Singapore Industrial Park Company to deploy the VSIP Nghe An Industry - Service Complex. The project is expects to draw US$8 billion of investment capital and create 150,000 jobs. Its tenants are expected to generate US$3 billion of revenue a year and earn US$1.5 billion from export. The project is thus believed to contribute to the process of industrialisation and modernisation and investment attraction in Nghe An province.