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NEWS UPDATES Asean Affairs  March  14, 2018  









Nghe An asked to double economy by 2025

 Prime Minister Nguyen Xuan Phuc has asked the central province of Nghe 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 Ngh? 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 Ngh? 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 Nghe An an attractive destination for businesses with large projects, showing the positive combination between domestic and foreign-invested capital resources.

The PM noted that Nghe 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 Nghe 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.

Nghe An should join neighbouring Thanh Hoa and Ha Tinh 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, Nghe 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 Ph?c said.

Further, the locality should pay attention to early upgrading of the Thanh Thuy 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 H? N?i to Ngh? 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 Ngh? An, in particular, to mobilise the maximum resources and improve the business and investment environment in order to help Ngh? An and neighbouring H? T?nh 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 Nghe An. The province granted investment licences to nine projects, and signed 16 memoranda of understanding on investment cooperation, with a total registered capital of VN?13.1 trillion (US$576.4 million).

The Bank for Investment and Development of Viet Nam (BIDV) and the Sai Gon-Ha Noi Commercial Joint Stock Bank (SHB) handed over three agreements providing credits worth VN?800 billion.

On the same day, the Government leader offered incentives at the ??ng Loc T-junction Relic Site to commemorate the then female youth volunteers who died while on duty at the T-junction during wartime in C?n L?c District, H? T?nh Province.

He also paid tribute to late President H? Ch? Minh at the Ngh? An’s Kim Li?n historical site. — VNS

In box

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

Deputy Prime Minister Vuong Dinh Hue a

Vietnam News, Investment



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