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​North-central Vietnamese province receives pledged $570mn investment

Monday, March 12, 2018, 12:42 GMT+7

Investors promised to spend an enormous amount of money in a province of north-central Vietnam at a local meeting held on Saturday which augurs well for the area’s economic prosperity.

The pledge was made at the tenth meeting with domestic and foreign investors in Nghe An Province, the recipient of the capital.

The total to-be investment amounts to over VND13 trillion (US$571 million).

The investors were presented with certificates of their commitment and of the government’s approval on the future investment for nine projects in Nghe An.

Sixteen memoranda of investment were also signed between the administration and investors.

Meetings with enterprises organized in the province first started in 2009, and the region has shown considerable progress in tackling problems hampering investment since.

After 10 such occasions, the province has obtained more than 1,000 plans, whose collective capital is nearly VND300 trillion ($13.2 billion).

Increasing attention has been drawn to Nghe An, which enjoys the largest area nationwide, partly because the government hopes the region and the two neighboring provinces of Ha Tinh and Thanh Hoa, where a number of industrial zones have been formed, will serve as the economic hub of north-central Vietnam.

This aim was stated by Vietnamese Prime Minister Nguyen Xuan Phuc, who was also present at the meeting.

Phuc told the administration in Nghe An to willingly cooperate with investors and facilitate the operations of private enterprises.

A resolve to improve the investment environment and make the province a trustworthy land for investors has been made, a senior official of Nghe An said.

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Thai Xuan / Tuoi Tre News

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