Impressive investment attraction results
In recent years, Nghe An province has made a strong mark on Vietnam's economic map thanks to impressive results in attracting investment, especially foreign direct investment (FDI).
During the period from 2022 to 2024, FDI capital flows will continuously grow rapidly, turning the province from a little-noticed locality into an attractive destination for domestic and foreign investors.
In 2022, Nghe An entered the top 10 localities attracting the largest FDI in the country for the first time, with a total investment capital of 961.3 million USD. This is an important turning point, proving the province's growing attraction in the investment market.
In 2023, continuing the success, Nghe An attracted 1.603 billion USD, an increase of 66.8% compared to the previous year. This achievement brought the province to 8th place nationwide in attracting FDI, affirming a significant improvement in the investment environment.
In 2024, Nghe An continued to record successful attraction of 1.749.6 billion USD in investment capital, marking the second consecutive year of exceeding the 1.5 billion USD FDI capital mark. By the end of 2024, the province had 169 FDI projects with a total registered capital of more than 5.686 billion USD.
The above figures are not only impressive economic results but also reflect a strong shift in the province's investment attraction strategy.
Success from “5 ready”
Nghe An's achievements in attracting investment come from a combination of many factors, including natural advantages, the right strategy and strong determination from the provincial government, summarized in the "5 readiness" formula.
The 5 factors, "5 readinesses" that help Nghe An succeed in attracting investment include: Ready land; Ready infrastructure; Ready human resources; Ready administrative reform; Ready to accompany investors.
In the content “Ready to accompany investors”, Nghe An commits to accompany and support continuously, from survey, licensing to project operation. Regularly organize meetings and dialogues with businesses, promptly remove difficulties, creating solid confidence for investors.
Driving force for socio-economic development
In 2024, the growth rate of gross regional domestic product (GRDP) of Nghe An province will reach 9.01% (ranked 2nd in the North Central region and 13th in the country), the budget revenue in 2024 will be 25,517 billion VND, the total disbursed public investment plan will be 8,193,036 billion VND, reaching 79.62%.
Activities connecting labor supply and demand continued to be strengthened; jobs were created for 48,500 people throughout the year. The program to mobilize and support the construction and repair of houses for the poor and those with housing difficulties supported the construction and repair of 11,787 houses, meeting 75% of the demand for the entire 2023-2025 period.
National defense and security continue to be maintained, social order and safety are ensured; foreign affairs are effectively implemented. In 2024, the Nghe An Provincial Armed Forces and Nghe An Police are honored to receive the title of Hero of the People's Armed Forces.
Mr. Nguyen Duc Trung - Secretary of Nghe An Provincial Party Committee shared: "The consistent and unified viewpoint of the provincial Party Committee, government, and specialized agencies is to always accompany, support, create maximum conditions, and resolve difficulties and problems for investors from the survey, implementation, and putting the project into operation with the highest efficiency on the principle of mutual benefit".
With its achievements in attracting investment, Nghe An is gradually realizing its desire for strong change. The results achieved in the 2022-2024 period are not only economic achievements but also clear evidence of the change in the province's management approach and thinking.
In the near future, Nghe An will not only rise to become the leading economic and industrial center of the North Central region but also an attractive destination on the international investment map, contributing positively to the sustainable development of the whole country.
