Thursday, August 16 2018

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Nghệ An asked to double economy by 2025

Update: March, 12/2018 - 09:00
Prime Minister Nguyễn Xuân Phúc speaks at the 10th annual meeting of investors conference in Nghệ An on Saturday.— VNA/VNS Photo Thống Nhất

NGHỆ AN — Prime Minister Nguyễn Xuân Phúc has asked the central province of Nghệ An to work harder to double its economic revenues by 2025, to ensure its becoming a locality generating high incomes throughout the region.

The Government leader made the request while addressing the 10th annual meeting of investors conference in Nghệ An on Saturday, which drew a large number of domestic firms and foreign businesses from various countries, including Thailand, Japan, the Republic of Korea and Australia.

Lauding the local government’s efforts and strong determination to attract investment, the Prime Minister said that Nghệ An’s experience is also helpful for other localities in promoting investments.

He noted that the determination of both the local government and investors has made Nghệ An an attractive destination for businesses with large projects, showing the positive combination between domestic and foreign-invested capital resources.

The PM noted that Nghệ An has a number of favourable qualities encouraging development in all fields, including its location as a transit point for the northern and southern economic regions, as well as having a population of nearly four million.

The province ranked 25th out of 63 localities in the 2016 provincial competitiveness index, seven positions higher than 2015, he noted, adding that many other indications, including those on market engagement and labour training, also increased.

However, the province’s performance in unofficial costs and land use remained modest, he noted, asking the locality to continue improving its investment and business environment, in a bid to lure more investors.

The PM also urged Nghệ An Province to continue building a dynamic, action-oriented and dialogue-willing government with better services for investors, while fully implementing commitments with investors and remaining prepared to respond to their requests.

Nghệ An should join neighbouring Thanh Hóa and Hà Tĩnh provinces to create growth with modern industry and smart agriculture, and play the role of the driving force for the inclusive growth of the northern central region and, in the near future, for the country as a whole.

He underlined that the province needs to tap its advantages in location to draw more investment, technology and high quality human resources, while encouraging and creating favourable conditions for the growth of support industries and other related sectors.

Although industry and services play a more important role in the economy, Nghệ An Province should comprehensively develop agriculture, with the focus on biological, organic and hi-tech agriculture, considering it a strength and a firm basis for the locality to grow sustainably, PM Phúc said.

Further, the locality should pay attention to early upgrading of the Thanh Thủy border gate and Vinh airport, to offer international flights, to attract investment from the private sector, especially in the infrastructure of industrial zones, seaports and airports, and work to hasten the progress of a highway project that will help reduce the travel time from Hà Nội to Nghệ An to 2.5 hours.

The Government leader stressed the need for the province to improve the quality of education and carry out policies to draw investment in high-quality universities and vocational schools in the fields of information technology, bio-technology, and manufacturing technology, as well as encourage the involvement of both domestic and foreign intellectuals in economic development.

He also requested ministries to study and submit to the Government appropriate policies and mechanisms to connect the north central and central economic regions, along with Nghệ An, in particular, to mobilise the maximum resources and improve the business and investment environment in order to help Nghệ An and neighbouring Hà Tĩnh Province to grow stronger in the future.

He also asked investors to realise their commitments, combine economic development with environmental protection, and ensure the interests of labourers.

This year’s conference continued to attract numerous large investment projects in Nghệ An. The province granted investment licences to nine projects, and signed 16 memoranda of understanding on investment cooperation, with a total registered capital of VNĐ13.1 trillion (US$576.4 million).

The Bank for Investment and Development of Việt Nam (BIDV) and the Sài Gòn-Hà Nội Commercial Joint Stock Bank (SHB) handed over three agreements providing credits worth VNĐ800 billion.

On the same day, the Government leader offered incentives at the Đồng Lộc T-junction Relic Site to commemorate the then female youth volunteers who died while on duty at the T-junction during wartime in Cần Lộc District, Hà Tĩnh Province.

He also paid tribute to late President Hồ Chí Minh at the Nghệ An’s Kim Liên historical site. — VNS

In box

Work starts on $1-billion industrial zone in Nghệ An

Deputy Prime Minister Vương Đình Huệ attended a groundbreaking ceremony for the WHA Hemaraj Nghệ An Industrial Zone project in the central province on Saturday.

This is an important project for attracting investment in the province, marking the success of co-operation between the province and Hemaraj Group, as well as Thai enterprises.

The project has a total investment of some VNĐ22 trillion (nearly US$1 billion), covering an area of over 3,200ha in Nghi Lộc and Diễn Châu districts.

The first phase of the project has an investment of $92.2 million and an area of 498ha, aiming to build a synchronised and modern infrastructure, and prepare empty land to attract investors inside and outside the country.

Once operational, the industrial zone is expected to create more jobs and improve incomes for locals, and help shift the local economic structure and increase the proportion of industrial production in Nghệ An. — VNS

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