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Nghe An hosts investment conference

Update: February, 05/2009 - 00:00

Nghe An hosts investment conference


NGHE AN — The central province of Nghe An will discuss its economic policies and current investment climate at a promotional conference to be organised in the province tomorrow.

The province will also unveil a list of projects for which it is seeking investors by 2010.

The projects are mostly in infrastructure, manufacturing, construction, agriculture, tourism, seafood, culture, education and public health.

The provincial People’s Committee chairman, Phan Dinh Trac, said the local authorities would continue to issue incentives and speed up administrative reforms in an effort to make Nghe An an attractive investment destination.

"The province is preparing to apply one-door policies to investment registration and licensing to better facilitate investors," Trac said.

In the past years, Nghe An has been drawing in an increasing amount of new investors.

It has so far attracted foreign direct investment worth US$252 million in 25 projects and domestic investment worth VND54.2 trillion ($3.1 billion) in 235 projects.

In 2008 alone, the province drew a combined registered investment capital of $769 million from 61 domestic and foreign-invested projects, up 13 per cent year on year. Among these projects, the $90 million Nghe An Tate&Lyle Sugar Co is one of the typical foreign projects.

The $354 million Ban Ve Hydro-Power Plant, the $87 million Cua Lo Golf Course, and the $99.5 million Sai Gon-Song Lam Beer Plant are some of the large projects.

"The proliferation of successful investors in the province will prompt other investors to come and study investment opportunities here," Trac acknowledged.

Industrial-sized plans

The province hopes to draw in more investment in various other industrial parks.

The Nam Cam Industrial Park (IP) is the likely location for steel rolling, metallurgy, motor vehicle assembly, chemical and fertiliser production, wood processing, mineral processing and leather footwear factories.

The 117ha North Vinh IP is the preferred location for factories making textiles, garments, electronics, handicrafts, agro-industrial goods and leather footwear for export.

Phu Quy IP’s 120ha could also facilitate forestry and mineral processing, animal feed production, and building material factories. — VNS

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