The journalist of Nghe An Newspaper interviews Mr. Nguyen Xuan Duong - Deputy Secretary of Provincial Party Committee, Chairman of Provincial People’s Committee ahead of the meeting with investors at lunar New Year 2017. It has been the annual event held by Nghe An and Bank for Investment and Development of Vietnam (BIDV) since 2009.

Packaging in Royal Foods plant. Photo: Lam Tung

Journalist: After intense preparation, the meeting with investors at lunar New Year 2017 takes place on February 19th. Could you please tell us some highlights of this 9th annual meeting, Sir? 

Mr. Nguyen Xuan Duong: Since 2009, Nghe An and BIDV have jointly organized meetings with investors - considered most crucial annual events in our investment promotion. The meetings are not only the time for provincial leaders, representatives of departments and investors gather after a year of cooperation but the chance for new investors to gain information and seek investment opportunities in Nghe An as well.

2017 is the 9th year that Nghe An hold the meeting with investors. After 8 previous meetings, we have attracted 804 projects with a total registered capital of over 260,000 billion dong, including 758 domestic projects and 46 FDI ones. In 2016, Nghe An has granted certificates of investment to 141 projects with a total registered capital of 35,400 billion dong. Futhermore, it is determined the start-up year by the Government. 

Along with the policy of building the tectonic government, creating favorable environment for enterprises to develop is one of the most important tasks of all levels, from central to local ones. Nghe An has granted business registration for more than 1,900 new businesses and branches. Those are among the positive gains that we are going to review on this occasion, considering what we have and haven’t done well and suggesting the solutions and orientations for effective development and cooperation in the future.

Journalist: The activities relating to this year’s meeting take place on February 18th and 19th. A different thing from previous events is the meeting with FDI investors on investment policies. Could you share more about it?

Mr. Nguyen Xuan Duong: The aims of the meeting in the beginning of the year - just like Vietnamese customs and traditions - in addition to showing our hospitality and openness, are also offering opportunities of direct dialogue among enterprises and the top leaders having the power and responsibilities to answer and solve their problems. 

This year, apart from activities similar to previous years, meeting with FDI investors on investment policies is a new feature of the conference and we thereby expect to boost FDI flows into Nghe An more strongly. Last year, we have had very good first steps with some new foreign investors, or strengthened the relationship with traditional partners in brand new areas. For instance, Hemaraj Group from Thailand - an internationally and regionally well-known partner has chosen Nghe An its first destination when approaching Vietnamese markets. That’s a very good signal to the province’s investment promotion and attraction.

What is more, 2016 is also the year when Nghe An has increased interaction with Japan - not a new partner but with great field of interest: agricultural development. Having possessed a lot of advantages in agriculture, Nghe An has to determine that agriculture shall still be a significant part of provincial socio-economy while pursuing the path of industrialization and modernization in the future. Industrialization does not mean paying less attention to agriculture. It means that we shall industrialize the agriculture, boosting the presence of science technology in this tradition sector. Hence, we expect a lot from the cooperative relationship with Japanese investors.

From my point of view, a face-to-face and specific dialogue with foreign investors is necessary, because of the existence of different investment policies in each place and each country. Only by mutual understanding and agreement on rights and liabilities of each party can we ensure sustainable cooperation and mutual benefits. Transparency, openness and clarity right from the beginning shall help reduce undesired incidents affecting each or both sides’ rights. 

Journalist: So this year’s meeting with investors prioritizes foreign guests, doesn’t it?

Mr. Nguyen Xuan Duong: Not really. Nghe An’s investment promotion and attraction activities have always focused on domestic enterprises. A large number of domestic enterprises have accompanied with Nghe An for many years through impressive projects in provincial socio-economy. Those include TH - True Milk’s project of dairy farming and milk processing, Sai Gon - Song Lam Brewery, Ha Noi - Nghe An Beer, Sabeco Packaging Plant, MDF Wood Processing Plant, two Hoa Sen Steel sheet plants, Song Lam 1 and Song Lam 2 Cement plants of The Vissai Group, Masan Northern Food Industry Center; Muong Thanh Group with a chain of hotels, tourism, trade and recreation complex; Vinpearl Cua Hoi of Vingroup, etc. Nghe An recognizes the contribution of domestic investors to our socio-economic development over the time and promises to facilitate the effective operation of enterprises in Nghe An.

In my opinion, supplying new investors with information is of great importance. It is easier for domestic investors to find out information about our investment climate owing to linguistic, cultural, etc. advantages. We have to say that domestic enterprises having done business in Nghe An are the companions with significant contribution to the improvement of our investment climate. Starting as an agricultural, backward province and behind many other places in our country during the process of industrialization and modernization, Nghe An has gained big steps in national competitiveness ranking.

With the trend of national and international integration, we really hope that the presence of both domestic and foreign investors shall make Nghe An’s investment climate more professional, aiming at international standards. Together, I believe, we shall go further in any cooperative relationship or competition among enterprises, which of course have to be fair.

Journalist: Thank you.

Journalist