Prioritizing investment attraction for dynamic projects, high technology level and modern production lines, with low impact on the environment is one of the major and consistent orientations of Nghe An province. Along with improving the investment environment, the province also builds mechanisms to attract and call for infrastructure business investors to invest in infrastructure.
The opportunity came in 2021, despite the impact of the Covid-19 pandemic, the province welcomed a new wave of FDI investment and created positive changes in attracting investment. From 2022 to present, there have been more and more large-scale FDI projects in Nghe An.
On September 20, 2023, the People's Committee of Nghe An province granted an investment certificate worth 150 million USD to Sunny Group for the new Sunny Automotive Optical Vina facility investment project. This is a project specializing in the production, processing, and assembly of camera modules, smart car light screens, smart lighting, projection modules and mold processing, photoelectric assembly and testing equipment, glass lenses, plastic lenses, etc. Along with that is the signing ceremony of cooperation between WHA Group and Sunny Group with suppliers.
With the above project, Nghe An has entered the top 6 provinces with the highest FDI attraction index in the country in the first 9 months of 2023, up 2 places and reaching the milestone of 1.272 billion USD for the first time after only 9 months. Not only that, Nghe An has also taken a step forward to become the center of electronic components and smart electronic devices production in the country.
Mr. Le Tien Tri - Head of the Southeast Economic Zone Management Board shared: The above results are the province's efforts over a long period of time, including careful preparation of infrastructure conditions, attracting investment projects with modern technology to serve sustainable development. The above index is also an objective recognition of investors and FDI enterprises on the improvement of the investment environment in Nghe An.
In fact, nearly 10 years ago, Nghe An was one of the trusted addresses for FDI investors when in 2012, BSE Electronics Group (Korea) rented 5.7 hectares of land in Nam Cam Industrial Park and invested 30 million USD to build a factory to process and install electronic equipment, with a capacity of 250 million products/year. Also in 2012, Em-Tech Group (Korea) rented a factory and recruited 3,000 workers to assemble phone speakers in Block 2, Vinh Tan Ward. After a period of investment, this group decided to invest in a production facility in VSIP Nghe An Industrial Park and tripled its capacity, employing nearly 9,000 workers.
By 2022, with well-prepared infrastructure conditions and an open investment environment, Nghe An has become the destination of choice for FDI investors, when the world's leading electronics corporations such as Luxshare-ICT; Goertek Vina; Everwin Precision Vietnam, Foxconn - Apple's leading partner, Ju Teng Group (Taiwan) have invested in Nghe An, with an average of 100 to 200 million USD per project and if phase 2 is expanded, it can reach 500 million USD.
Last June, the Southeast Economic Zone Management Board also granted an investment certificate worth 293 million USD to Runergy New Energy Science and Technology Group, which specializes in producing silicon bars and semiconductor wafers from China.
The good news in attracting FDI in Nghe An in recent years is that it has attracted large corporations, through connections, with supporting and satellite businesses as partners to create an ecosystem and supply chain for each other.
A representative of the Department of Industry and Trade said: With a total production capacity of electronic components and smart devices reaching hundreds of millions of products each year, employing tens of thousands of workers, FDI projects in the field of electronics and smart components have contributed to the remarkable increase in the production value of Nghe An's industry. In 2022, it reached over 7,000 billion VND, the average growth rate of the industry reached 112.7%, of which the electronics industry increased by 205.87%, being one of the sectors with the most impressive growth.
In the first 9 months of 2023, Nghe An attracted 1.272 billion USD of FDI capital, of which 14 newly licensed projects, with 1.015 billion USD and 7 projects adjusted to increase scale, with capital of 256.79 million USD. Accumulated capital to date, Nghe An has attracted 145 FDI projects (still in effect), with a total capital of 3.874 billion USD, of which investment capital in the field of electronics and smart devices accounts for over 50%.
The current difficulty is labor recruitment. According to a survey by the Southeast Economic Zone Management Board, from now until 2025, industrial parks in the Southeast Economic Zone will need about 45,000 workers and by 2030, about 90,000 workers will be needed to work in industrial parks. With 1.6 million workers, Nghe An has about 45,000 young workers entering the market each year. Investors need to coordinate closely with the province and vocational schools to receive this number of workers every year; at the same time, attract more skilled workers from other localities to work.
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