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Mar 10, 2018 / 16:53

Nghe An commences one-billion-dollar industrial zone project

Construction begins on WHA Hemaraj Nghe An Industrial Zone project with a total investment of about VND 22 trillion, equivalent to US $1 billion, with a total area of over 3,200.

Deputy Prime Minister Vuong Dinh Hue attended the groundbreaking ceremony on March 10. This is an important project to attract investment in the province, marking the success of cooperation between the province and Hemaraj Group in particular and Thai enterprises in general.

The project has a total investment of around 22 trillion VND (nearly 1 billion USD), covering an area of over 3,200ha in Nghi Loc and Dien Chau districts.

The first phase of the project has an investment of 92.2 million USD and an area of 498ha, aiming to build synchronous 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 Nghe An.
Work starts on 1-billion-USD industrial zone in Nghe An
Work starts on 1-billion-USD industrial zone in Nghe An
The same day, the Government leader made the request while addressing the 10th annual meeting with investors conference in Nghe An, which drew a large number of domestic firms and foreign businesses from various countries such as Thailand, Japan, the Republic of Korea and Australia.

This year’s conference continued to attract numerous big 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 13.1 trillion VND (576.4 million USD).

The Bank for Investment and Development of Vietnam (BIDV) and the Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) handed over three agreements providing credits worth 800 billion VND (35.2 million USD).

Prime Minister Nguyen Xuan Phuc has asked the central province of Nghe An to work harder to double its economic scale by 2025, becoming a locality with high income in the region.

Lauding​ the local government's efforts ​​and strong determination to attract investment, the PM said that Nghe An's experience is helpful for other localities in investment promotion.

He held that the joint determination of local government and investors has made Nghe An an attractive destination for businesses with large projects, showing the good combination between domestic and foreign-invested capital resources.

The PM noted that Nghe An has various favourable conditions for development in all fields​, including its location​ as a transit point of northern and southern economic regions, as well as a population of nearly 4 million.

The PM urged Nghe An to continue building a dynamic, action-oriented and dialogue-willing government with better services for investors, while fully implementing commitments with investors and staying ready to respond to their requests.

Nghe An should join neighbouring Thanh Hoa and Ha Tinh provinces to form a growth ​with modern industry and smart agriculture and play the role as the driving force for the inclusive growth of the northern central region and the country as a whole in the near future.

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.

The Government leader stressed the need for the locality 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 the local economic development.