Nghe An organizes Investment Promotion Conference in Singapore

Attending the workshop were Mr. Mai Phuoc Dung - Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Singapore; Mr. Lenon Tan - Chairman of the Singapore Manufacturing Federation 125, leaders of economic groups and investors.

On the side of Nghe An province, there were comrade Bui Dinh Long - Vice Chairman of the Provincial People's Committee, leaders of the Department of Foreign Affairs, the Management Board of the Southeast Economic Zone, the Department of Planning and Investment; the Department of Industry and Trade, leaders of VSIP Group, WHA and representatives of relevant agencies and units.

The comrades chaired the workshop.

At the workshop, Nghe An introduced the province's potentials, advantages and green growth orientation in the coming time. Infrastructure enterprises such as VSIP, WHA also introduced preferential policies, comparative advantages... when investing in Nghe An. This will be a favorable premise for investors to research and survey to cooperate and develop together.

Speaking at the workshop, Vice Chairman of the Provincial People's Committee Bui Dinh Long affirmed the potential, advantages of the province and investment opportunities in Nghe An province.

Comrade Bui Dinh Long spoke at the Workshop.

Accordingly, Nghe An has the largest natural land area in the country with nearly 16,500 ^km2 , rich and diverse terrain, with sea, plains, midlands and mountains; Population of more than 3.4 million people, the fourth most populous in the country; is the homeland of President Ho Chi Minh - a world cultural celebrity; a land famous for its tradition of studiousness, good study, diligence and creativity; is the education and training center of the North Central region with 06 universities, 11 colleges, more than 70 secondary schools and vocational training centers. Nghe An province's transportation system fully converges roads, airways, seaways, inland waterways, railways and border gates. Nghe An has a Southeast Economic Zone with an area of ​​over 20,700 hectares.

After 50 years of establishing official relations, nurtured by the leaders and people of the two countries, the Vietnam - Singapore strategic partnership is now in a very good stage of development; high political trust, great potential for cooperation. Nghe An province always considers Singapore as one of the leading important partners for cooperation and development in the present and the future. The appearance of Vietnam - Singapore Industrial Park 7 in Nghe An (VSIP) is one of the vivid and convincing evidences of investment cooperation between the two countries, contributing positively to the socio-economic development of Nghe An province in recent times.

Although Nghe An province and Singapore have many potentials and advantages for cooperation in development, the results achieved are still not commensurate with those potentials. Specifically:

Regarding FDI investment, Nghe An province has 124 projects of investors from 14 countries and territories, with a total registered capital of about 3.3 billion USD, of which there are only 07 projects with FDI capital from Singapore with a total committed investment capital of 486.41 million USD in industries such as: Garment, electronic components manufacturing, telecommunications equipment... attracting about more than 10,000 workers.

Business representatives discussed and learned about Nghe An's green development policy.

The average growth rate of Nghe An province in recent years has reached over 9%/year, ranking among the top 10 localities attracting the largest foreign investment capital in the country in 2022 and among the top 8 localities attracting the largest foreign investment capital in the country in the first 6 months of 2023.

Regarding Trade, export turnover to the Singapore market in 2022 reached 29.03 million USD, in the first 6 months of 2023 it reached 29.95 million USD. The main export items include: Equipment, components, electronics; corrugated iron, steel of all kinds; textiles; paving stones... Import turnover in 2022 reached 56.7 million USD, in the first 6 months of 2023 it reached 58.78 million USD. The main import items include: Petroleum; machinery, equipment; textile, leather, footwear materials...

The Vice Chairman of the Provincial People's Committee hopes that large corporations, as well as small and medium-sized enterprises of Singapore, will be interested in investing in Nghe An, with priority given to projects in industries and fields such as: High technology, advanced technology, environmentally friendly technology, clean energy, renewable energy; production of medical equipment, provision of healthcare services, education and training, high-quality tourism, financial services, logistics and other modern services; high-tech agricultural production, smart agriculture; development of modern technical infrastructure, especially new industries on the basis of industry 4.0...

A corner of VSIP Industrial Park. Photo: Thanh Cuong.

At the workshop, representatives of Singaporean businesses raised questions related to green growth solutions, business establishment procedures, incentives when converting businesses towards using high technology to reduce carbon emissions, etc.

At the workshop, the People's Committee of Nghe An province granted the Investment Registration Certificate from the People's Committee of Nghe An province to the Singaporean investor, Soilbuild Group Holdings Pte for the project to develop a system of ready-built factories and offices located in WHA Industrial Zone 1 - Nghe An. This is a 45 million USD investment project implemented by Soilbuild Group Holdings Pte - one of the leading construction and infrastructure development corporations in Singapore.

Source: https://baonghean.vn/nghe-an-to-chuc-hoi-thao-xuc-tien-dau-tu-tai-singapore-post275957.html