Ho Duc Phoc, Chairman of the Nghe An Provincial People’s Committee, talks with VIR about this event.

What is your assessment about the efficiency of the investment promotion conference with businesses and investors?

This is the fourth time Nghe An province has organised the meeting with businesses and investors at the beginning of a new lunar year in Vinh City. It can be considered a traditional festival on the province’s investment promotion, aiming to create bustling emulation in production and business activities, opening cooperative opportunities between Nghe An and investors.

Through such conferences, domestic and foreign investors understand more about opened mechanism and policies and grasp potentials and strengths of Nghe An, helping them selecting investment projects in the province effectively.

Over the three consecutive years, the conferences have shown its leading role in attracting investment capital into the province. Nghe An pulled in over VND17 trillion ($809.5 million) of investment capital in 2009 when the first conference was held and the figure was more than VND18 trillion ($857.1 million) in 2010. Despite a lot of difficulties in 2011, the province attracted 102 projects capitalised at more than VND27 trillion ($1.3 billion).

Via these conferences, Nghe An has drawn large projects, creating breakthroughs for the local economy. For example, Sabeco beer plant, Sabeco packing plant, non-refined brick project, TH True Milk project and Havina Kim Lien garment project.

In order to provide more favourable conditions for investors, Nghe An has signed commitments on upgrading and opening air routes of Vinh-Hanoi, Vinh-Buon Me Thuot and Vinh-Pleiku. Signed projects have created 10,000 jobs, increasing local budget revenues.

Such conferences and meetings have further lifted the image and position of Nghe An, helping the province become an attractive destination for investors.

Vinh city - illustration photo

What are the province’s solutions to help investors accelerate their projects?

At present, the economy of the world and Vietnam is facing difficulties. In the context of tightening public investment, attracting other investment sources is very important, particularly foreign direct investment and investment capital from the private sector. We see these will be important sources helping the provincial economy secure sustainable growth.

In order to implementing project effectively, the local authorities join hands with investors to deal with difficulties, especially infrastructure hardships. The province will ensure good infrastructures such as airports, seaports, roads, railways, industrial park and economic zone infrastructure and other logistics services such as post-telecommunications and health care.

Site clearance is the key issue for projects to be executed punctually. Nghe An pledges to hand over cleared land to investors on time.

Based on the Investment Law as well as mechanisms and policies promulgated by the Vietnamese government, the province promotes the motto that “investors enjoy the highest interests and contribute the lowest obligations”.

Also, Nghe An will focus on simplifying administrative procedures in order to cut time and costs for investors. In addition, the province pays attention to the planning of raw material zones in order to help projects to be put into operation quickly and effectively.

We are also committed to provide sufficient and skilled workforce for operating businesses in the province.