Nghe An Investment Attraction: More Substantive and Effective

3:41:11 PM | 21/2/2019

In the last five years (from 2014 to 2018), Nghe An province has attracted 150 large-scale projects (at least VND100 billion per project) with a total registered capital of VND89,141 billion (US$3.8 billion). To date, most of these projects are in good operation, affirming that the province’s investment attraction has become more substantive and effective.

From 2014 to date, 59 projects valued at VND43,778 billion (49% of registered capital) have been put into operation; 69 projects worth VND33,0024 billion (37%) are under construction; and 22 projects worth VND12,339 billion (14%) have not been started or have been cancelled.

Thus, operational projects accounts for a large part of licensed investment projects (86%). This shows that investment attraction has become more substantive (see the Chart).

Among projects licensed since 2014, the industrial sector has attracted 75 projects with VND47,646 billion of investment capital (accounting for 53% of the total value), including 36 operational projects with VND30,655 billion (64%), 27 projects under construction with VND12,150 billion (26%), and 12 unimplemented or withdrawn projects with VND4,841 billion (10%).

As many as 36 projects are engaged in the construction sector with a capital of VND20,544 billion (23% of total registered capital), including eight operational projects with VND4,942 billion (24% of the sector’s registered capital), 23 underway projects with VND11,933 billion (58%) and five unimplemented or revoked projects with VND3,669 billion (18%).

The trade and service sector has 25 projects with VND10,513 billion (accounting for 12% of the total capital), including 11 operational projects with VND5,613 billion (53% of the sector’s registered capital), 11 projects under construction with VND4,443 billion (42%), and three unimplemented or revoked projects with VND457 billion (4%).

The agricultural sector has 10 projects with VND8,613 billion of investment capital (accounting for 10% of the total registered capital), including two operational projects with VND1,168 billion (14% of the sector’s registered capital), six underway projects with VND4,074 billion (47%) and two unimplemented or revoked projects with VND 3,371 billion (39%).

Four projects are in the social sector (education, health and culture) with VND1,825 billion of registered capital (accounting for 2% of total capital), including one operational project with VND1,300 billion (71% of the sector’s registered capital) and three underway projects with VND525 billion (29%).

Thus, in just five years, Nghe An province has attained remarkable achievements in investment attraction and investment capital restructuring, with a higher share of investment capital in industry, construction, and trade and service. Investors have also become interested in agricultural production, coupled with processing industry and tourism services. Investment projects have created fundamental driving forces for local socioeconomic development and helped realize objectives of Resolution 26-NQ/TW of the Politburo dated July 31, 2013 on Nghe An development directions and tasks to 2020, and the Resolution of the 18th Provincial Party Congress.


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