Nghe An lures nearly 31 trillion VND in investment

The central province of Nghe An has attracted 120 projects with total investment of nearly 31 trillion VND (1.36 billion USD) so far this year, according to the provincial People’s Committee.

                                   TH True Milk factory in Nghe An (Source: Zing News)

Since 2013, the locality has lured 372 investment projects worth over 161 trillion VND (7.3 billion USD), including many large projects such as Vietnam-Singapore Industrial Park and TH True Milk factory.

However, the committee assessed that the province is facing difficulties in attracting foreign investment as the potential of many promising sectors has yet been fully tapped, including high technology industry, animal breeding, forestry, agro-forestry and fishery product processing, and tourism.

Meanwhile, asynchronous administrative reform and slow implementation of the one-stop-shop model in some agencies are affecting the local investment environment and hindering investors’ access.

In 2017, the province will improve its investment environment to attract more domestic and foreign investors in 2017, the provincial People’s Committee said.

It will prioritise luring investment to a number of areas with high technological content and added value while paying more attention to the quality of investment projects.

Nghe An is drastically inspecting projects with slow progress. Since early this year, 85 such projects have been inspected, 13 of them were revoked and 10 others are likely to be cancelled.

Source VNA