Vietnam's northcentral region eyes breakthroughs in investment attraction in 2024

Hanoi, February 15 (VNA) – Localities in the northcentral region of Vietnam have made concerted efforts and implemented various measures to attract investment, especially foreign direct investment (FDI), contributing to socioeconomic development in 2024.

Nghe An is the leading locality in the region in attracting investment capital in 2023.

The local authorities granted investment licenses to 116 projects and approved capital addition for 185 existing projects with a combined capital of over 57.89 trillion VND (nearly 2.36
billion USD). The total newly granted and additional capital of FDI projects hit 1.6 billion USD, up 66.8% compared to 2022.

According to the Southeast Economic Zone Management Board in Nghe An, the locality recorded six new investment projects with a total registered capital of 390 million USD in early 2024, all of them high-tech and environmentally friendly.

Le Tien Tri, director of the management board, said thanks to efforts of the local authorities to accelerate administrative reform and develop infrastructure and human resources, new investment have been pumped into the locality in recent times.

The locality supported and connected to provide 8,000 workers for FDI enterprises in 2023. The figure is expected to increase to 15,000 - 20,000 this year.

According to data released by the Foreign Investment Agency under the Ministry of Planning and Investment, Thanh Hoa was one of the localities that attracted the most FDI in 2023.

The locality lured 83 direct investment projects with a total registered capital of nearly 1.4 billion USD, including 14 foreign-invested ones.

Notably, the provincial authorities granted investment certificates to 15 domestic projects worth more than 10 trillion VND, and six FDI ones with a total
capital of 50 million USD in the Nghi Son Economic Zone and industrial parks.

In 2023, Ha Tinh gave in-principle approval to 18 domestic investment projects with a total registered capital of 1.72 trillion VND and two foreign-invested projects worth 70 million USD.

Estimates show approximately 18.96 trillion VND in FDI was poured into the locality, surging by 99.17% year-on-year./.