Steel sheets of the Hoa Sen factory, based in Dong Hoi Industrial Park of Nghe An province, are delivered to a vessel for overseas shipment (Photo: VNA)
The central province of Nghe An will cooperate with investors to build infrastructure in local industrial parks with the aim of filling those IPs with secondary investors in 2019.
This is part of the province’s strategy towards the goal of attracting between 20-25 trillion VND (860 million – 1.08 billion USD) worth of investment this year, including 3 -5 trillion VND of foreign direct investment (FDI).
The provincial administration plans to intensify administrative reform, particularly in procedures related to investment, construction and land use.
More attention will be paid to on-the-spot investment promotion activities, while close guidance and prompt assistance will be provided to signed projects so as to accelerate their pace.
Several large-scale investment projects in Nghe An are being hindered by bottlenecks in investment procedures, such as the 10.5 trillion VND resort and entertainment complex by FLC group in Nghi Loc district, and the phase-two Vinpearl Cua Hoi resort complex worth 4.36 trillion VND.
Nghe An has so far lagged behind other localities in attracting investment, due to its underdeveloped economy, poor infrastructure and an inconvenient location far from development hubs.
In addition, administrative procedures are still cumbersome, particularly those related to land use. Most support for investors stop after the approval of projects, and local authorities have not paid sufficient attention to supervising and assisting the implementation of projects, thus failing to timely addressing problems arising during the process.
Becoming aware of those issues, the provincial authorities will focus efforts on overcoming the shortcomings this year./.