More than 14,626 billion VND 'flowed' into Nghe An in the first 3 months of 2024

Nghe An is an attractive destination for many investors. Photo: TL

Attracting investment with impressive results

The socio-economic report for the first quarter of 2024, recently released by the Nghe An Statistics Office, shows that investment attraction activities have achieved impressive results. In March alone, Nghe An had 3 projects with increased capital with a value of more than VND 1,424 billion, including the Radiant Opto-Electronics Vietnam Nghe An factory project in VSIP TM Industrial Park, which increased by 25 million USD, equivalent to VND 600 billion.

Radiant Opto-Electronics Vietnam Nghe An factory project at VSIP Industrial Park. Photo: VSIP Industrial Park

In the first 3 months of the year, Nghe An province has granted new investment licenses to 18 projects with a total registered capital of more than VND 12,274 billion, more than double that of the same period in 2023. Nghe An province has 14 adjustments with a total additional capital of more than VND 2,352 billion. Accordingly, the total newly granted and adjusted capital in Nghe An province in the first 3 months of the year is more than VND 14,626 billion.

This year, Nghe An aims to continue to be in the top 10 localities attracting the most FDI in the country. 2023 is the first time that the total foreign direct investment capital in Nghe An province has exceeded the 1.6 billion USD mark and ranked 8th among the localities attracting the most foreign investment capital in the country.

In addition, since the beginning of the year, Nghe An province has directed and urged to accelerate the implementation of a number of key infrastructure investment projects in the area. These include the Vinh - Cua Lo road project phase 2 with a total investment of more than VND 1,415 billion, the Dien Chau - Bai Vot section investment project under the Project to build a number of expressway sections on the North - South East route in the 2017-2020 period with a total investment of more than VND 11,157 billion.

Vinh – Cua Lo road project phase 2. Photo: My Linh

In addition to attracting investment, in the first 3 months of the year, revenue from accommodation and food services in Nghe An province is estimated to reach more than 4,001 billion VND, an increase of more than 50% over the same period. In addition, revenue from tourism services in the first 3 months of the year in Nghe An province is estimated to reach nearly 54 billion VND, an increase of more than 76% over the same period in 2023.

According to the General Statistics Office, Nghe An’s trade and service activities in the first three months of the year are on the rise, with many stimulus, connection, and trade promotion programs being implemented. As a result, total retail sales of goods and consumer service revenue have increased compared to the same period last year.

Developed infrastructure, attracting investors

This year, Nghe An aims for GRDP growth of 9-10%, 1-2 percentage points higher than in 2023. To achieve this goal, from the beginning of the year, Nghe An provincial leaders have proposed many drastic and synchronous plans and solutions.

Nghe An's transport infrastructure is increasingly improved. In the photo is the extended Nguyen Sy Sach street paved with asphalt concrete. Photo: MP

Currently, the infrastructure of Nghe An in general and Vinh city in particular has also developed strongly thanks to the concentration of resources on a series of essential projects such as: the investment project to upgrade and expand Vinh International Airport; the Nguyen Sy Sach extended road project connecting Vinh city center with the Lam riverside road. In addition, the Ben Thuy 3 bridge project with the starting point in Hung Hoa commune, Vinh city; the end point in Nghi Xuan district (Ha Tinh) is included in the list of priority investment in the period 2021-2030, also contributing to the completion of the infrastructure system and social services.

Specifically, according to the priority investment list, the Ben Thuy 3 bridge project is in the group of projects with state budget capital. The Ben Thuy 3 bridge project is expected to add more development momentum to the largest urban center area of ​​Nghe An province, contributing to expanding trade connections, linking the North Central region and meeting the travel needs of the people of Nghe An - Ha Tinh provinces, reducing the load on Ben Thuy 1 and 2 bridges.

The leader of the Department of Transport of Nghe An province said: Ben Thuy 3 Bridge is in the planning orientation, the relevant parties will consult, then determine the capital, sub-items and implementation time. Thus, currently, there are a total of 5 road bridges across Lam River connecting Nghe An and Ha Tinh, including Ben Thuy 1 and 2, Cua Hoi, Yen Xuan, Hung Duc (part of Dien Chau - Bai Vot expressway under construction).

Nguyen Sy Sach Street is expanded to both sides, the section passing through the Eco Central Park project is up to 70m. Photo: MP

The General Statistics Office believes that the socio-economic development, especially infrastructure, has made Vinh city more attractive to investors. On the other hand, thanks to the developed transport infrastructure, real estate projects in Nghe An province, especially the expanded Vinh city, have become more valuable. There have been many large-scale projects in the province, contributing to changing the local appearance, including the WB project investing 130 million USD to build urban infrastructure to adapt to climate change in Vinh city or the Eco Central Park metropolis of the founder of Ecopark.

Eco Central Park is located on 70m wide Nguyen Sy Sach Avenue. Photo: MP

With an area of ​​nearly 200 hectares, Eco Central Park is located at the intersection of Lam Riverbank and Nguyen Sy Sach Avenue, which is being extended to both sides. The end of the avenue is up to 70m wide. From this location, Eco Central Park residents only take 8-20 minutes to travel to Vinh city center, access the hospital system, Vinh International Airport and the famous Cua Lo tourist area.

Model villa at Eco Central Park. Photo: MP

According to economists and real estate experts, people no longer care about the distance but how long it takes to travel. With the above infrastructure investment, the routes to Eco Central Park are becoming more open and easier than ever, promising to create strong movements in the next 1-2 years, while promoting Eco Central Park to become the new center of Vinh city.

However, the main factor that helps Eco Central Park "transform" into a new center in the East of Vinh city is still its endogenous vitality. This modern urban area has handed over nearly 300 villas and townhouses nearly 2 months ahead of schedule; continuously completing many utilities. The investor is also preparing to enter a "big handover" period at the end of April, pulling thousands of residents out of the core area, creating a new center in the East of Vinh city.

Source: https://baonghean.vn/hon-14626-ty-dong-chay-vao-nghe-an-trong-3-thang-dau-nam-2024-post287682.html