From 2001 to present, Nghe An has attracted over VND12,780 billion of FDI, ODA and NGO assistance from 14 countries and international organisations, 1.3 times that of the 1996-2000 period. It is expected to increase further by 2010. To attain its goal, Nghe An People’s Committee has organised a conference to promote investment with the participation of over 200 representatives of government ministries and agencies. The conference was presided over by Mr Nguyen The Trung, Chairman of the People’s Committee.
In his opening speech, Mr Nguyen The Trung confirmed that foreign investment in Nghe An has improved the infrastructure, public knowledge, agriculture and rural development, employment and socio-economic development. He also pointed out the potentials, advantages and difficulties of the province in attracting foreign investment, and expressed the hope that the conference would assist Nghe An in overcoming constraints and developing mechanisms to attract more foreign investment with higher efficiency.
Speaking at the conference, Mr Vu Anh Quang, Deputy Head, UNESCO Department, Ministry of Foreign Affairs, said that there are favourable conditions to attract foreign investment, especially ODA for poverty reduction. In 2005, it is expected at US$3.4 billion. The EU has committed to increase assistance to poor and developing countries. The money transfer from overseas Vietnamese also increases every year. must be prepared for the new investment. For its part, Nghe An must have staff capable of preparing projects with professional skill, quality management and foreign languages.
Mr Bui Liem, Deputy Head, Department of External Economic Relations, Ministry of Planning and Investment said that Nghe An, like Vietnam, have managed and invested ODA capital with high efficiency and low loss compared to other countries. However, administrative formalities, land clearance and disbursement are still slow, seriously affecting the implementation of projects. In the coming years, ODA to will increase. There are so far many good projects, but some lack specific planning or are simply an extension of national projects. A management board is established for each project without sharing experiences or management skills from previous ones.
For his part, Mr Le Van Minh, Head of International Cooperation Department, Ministry of Agriculture and Rural Development considered that the most important question is to make the best use of the capital. With concessional loans for projects on agriculture, forestry and poverty reduction, by the end of 2004, will have a debt of US$180 per capita with interest payments of US$5 and capital recovery of 30 years. Nghe An will benefit from the programme with the development of water supply in districts of Anh Son, Nam Dan and Quynh Luu, and mountainous and rural development such as Muc Mau reservoir. The province should have Email addresses, maintain contacts with related ministries, and prepare specific projects, as investors always want to know whether projects are well prepared and endorsed by related authorities..
Several remarks were made on the successful foreign investment in Nghe An. The province has received an important part of ODA (after
As a follow-up of the conference, the province will maintain contacts with government ministries and agencies to facilitate FDI, ODA and NGO projects and remove constraints in investment attraction and management.
Nhat Minh - Hong Toan
Vietnamese
