Nghe An province’s delegation visits and works with the Vietnamese Embassy in Singapore

The delegation included leaders from the Department of Foreign Affairs, the Management Board of the Southeast Economic Zone, the Department of Industry and Trade, the Department of Planning and Investment as well as leaders from VSIP Group, WHA and representatives from relevant agencies and units.

The delegation was received by Mr. Mai Phuoc Dung - the Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Singapore.

During the working session, Mr. Bui Dinh Long informed the Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Singapore about the socio-economic achievements of Nghe An province in the past period as well as the current cooperation between Nghe An and Singapore.

Accordingly, in recent times, despite facing adverse impacts due to the rapid and complex changes in global politics, security and economy, Nghe An province has made efforts to overcome challenges and achieved comprehensive results in various fields.

The scale of the provincial economy is currently ranked 10th nationwide, with a growth rate of 9.08% in 2022, ranking 22nd across the country. In the first half of 2023, the province achieved a 5.79% economic growth rate.

The total state budget revenue reached VND 21,805 billion (equivalent to nearly USD 919 million) in 2022, and it is estimated to reach VND 8,489.4 billion (equivalent to nearly USD 358 million) in the first half of 2023.

In 2022, the province attracted nearly USD 1 billion in foreign direct investment (FDI), ranking among the top 10 nationwide. In the first six months of 2023, Nghe An continued to be a bright spot in attracting FDI, securing the 8th position out of 63 localities across the country.

Nghe An always considers Singapore one of its top strategic partners for current and future cooperation. The presence of the VSIP Industrial Park is a vivid and convincing example of investment cooperation between the two countries, contributing positively to the province's socio-economic development.

In Nghe An province, there are 7 projects with FDI from Singapore, totaling committed investment capital of USD 486.41 million, covering various sectors such as textiles, electronic component manufacturing, telecommunications equipment, attracting over 10,000 employees.

In terms of trade, the export turnover to the Singaporean market reached USD 29.03 million in 2022 and USD 29.95 million in the first six months of 2023. Key export items include electronic components, electronics, various types of steel, textiles, and ceramic tiles.

The import turnover was USD 56.7 million in 2022 and USD 58.78 million in the first six months of 2023, with major imported items including petroleum, machinery, raw materials for textiles, leather, and footwear.

The Deputy Chairman of the Provincial People's Committee expressed his hope that in the coming time, the Vietnamese Embassy in Singapore would continue to show interest and support for the cooperation between Nghe An and Singapore, not only in attracting investment but also in other areas such as trade, education, training, tourism and so on.

In his remarks during the meeting, the Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Singapore, Mr. Mai Phuoc Dung, acknowledged the achievements in the economic and social development of Nghe An province.

He emphasized that the Vietnam-Singapore relationship is currently in its best phase ever. In the near future, the two countries will elevate their strategic partnership to a comprehensive one. With the existing potential and advantages, combined with the determination of provincial leaders, departments and sectors, Nghe An is truly an attractive destination for Singaporean investors. The presence of two VSIP industrial parks in Nghe An within just 7 years is a clear testament to Nghe An's commitment to investors.

The Vietnamese Embassy in Singapore will support the province in connecting with Singaporean investors, particularly in fields such as electronics, clean energy, afforestation, etc. to turn the province's potential and advantages into a driving force for development.

During their schedule in Singapore, the Nghe An delegation will organize an Investment Promotion Seminar titled "Nghe An - A safe, reliable and effective investment destination”. They will also visit the Singapore Manufacturers' Federation, tour the urban planning exhibition, and engage with the Enterprise Development Agency (under the Singapore Ministry of Trade and Industry) as well as work with economic groups that have invested or plan to invest in Nghe An.