Southeast (Dong Nam) Economic Zone exceeds investment attraction targets

Vice Chairman of Nghe An PPC speaks at the conference. Photo: Nguyen Hai

In 2022, despite launching tasks in the context of many difficulties, the Southeast Economic Zone’s Management Board has attracted 34 projects and adjusted to increase the capital of 14 projects with a total new investment and an additional adjustment of VND 30,355.4 billion compared to VND 15,000 - 20,000 billion as planned (equivalent to USD 1.31 billion), which exceeded 102% of the plan and increased by 235% over the same period.

Also in 2022, the Management Board has advised the Provincial People's Committee to submit to the Ministry of Planning and Investment and the Government for approval of the investment policy of 2 industrial parks with a scale of 834.79 hectares, namely Tho Loc Industrial Park - Phase I and Hoang Mai II Industrial Park.

As of December 31, 2022, the Southeast Economic Zone has 138 enterprises in operation, creating jobs for 30,128 employees with an average income of VND 7.29 million/month. The estimated revenue is VND 58,514 billion; exports are estimated at USD 920 million, imports are estimated at USD 896 million; state budget payment reaches VND 1,897 billion...

The Management Board also advises well on investment in the construction of infrastructure of economic zones and industrial parks. Specifically, along with the mass implementation of 9 projects, the groundbreaking of 3 new projects, the Board has proposed investment policies for 4 projects with a total investment of VND 2,163 billion; directed the implementation of technical infrastructure of 3 key industrial parks to attract investment; and mobilized VND 1,379.562 billion to invest in technical infrastructure of economic zones and industrial parks.

Speaking at the conference, Mr. Bui Thanh An - Member of the Standing Committee of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee emphasized that the fluctuations of the world economy, pandemic and inflation have affected Vietnam’s economy as well as Nghe An’s; however, the province still gains good results in terms of attracting investment.

Although its development plan is still under the adjusting and perfecting process, the Southeast Economic Zone’s Management Board has made many efforts and achieved high results in attracting foreign direct investment (FDI). In 2022, Nghe An has for the first time ranked among 10 localities attracting the largest FDI nationwide. Notably, there have been large projects, participating in the global production and supply chain, which proves the attraction as well as significant improvement of the investment environment in Nghe An.

The Vice Chairman of the Provincial People's Committee suggested that in 2023, the Management Board should continue to complete the detailed and subdivision planning of the Southeast Economic Zone, complete the procedures for changing the name to the Management Board of Nghe An Economic Zone; continue to give advice on issuing policies to support and develop logistics services through Cua Lo port and to attract and retain workers in industrial zones.

The Management Board should continue improving the investment environment, management and administration policies in economic zones and industrial parks; strive to make the Southeast Economic Zone become the driving force for the province's economic growth in the near future. The provincial leader also assigned the Southeast Economic Zone’s Management Board to continue coordinating with districts and towns to manage the planning, and at the same time compensate for site clearance well to develop newly approved industrial zones...