Nghe An lures USD 725.4 million worth of foreign investment in H1

The Central province of Nghe An attracted USD 725.4 million worth of foreign investment in the first half of this year, ranking 8th among the country’s 63 provinces and centrally-run cities, the provincial People's Committee has said.

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During the period, the province licensed eight new foreign-invested projects with a total registered value of USD 613.8 million.

Among new foreign-invested projects was the first phase of Tho Loc Industrial Zone (IZ), valued at USD 164.6 million and a USD 100 million hi-tech project being financed by Foxconn Interconnect Technology Singapore PTE.LTD in WHA IZ.

(Photo for illustration: vneconomy.vn)

Despite this encouraging performance, the province has yet to attract large-scale projects. Investments in its prioritized sectors such as thermal, agriculture and tourism remained modest, the committee said.

The province is implementing solutions to attract more investment with a focus on hastening the development of projects in the Southeast Economic Zone and other IZs and improving its ranking of indicators such as the provincial competitiveness index (PCI), the provincial public administration index (PAPI), and the administrative reform index (PAR INDEX).

By the end of 2023, Nghe An will coordinate with developers of Vietnam - Singapore Industrial Park (VSIP) and WHA IZ to call for investment into these zones. It also strives to attract from 100 to 120 projects with a total combined investment capital of about VND 32 - 35 trillion in 2023, of which USD 500-600 million will come from foreign investors.

Source: VNA