Illustrative image (Source: VNA)
 
Ha Nam (VNA) – The northern province of Ha Nam, located at the southern gateway of the capital city, has shown its strong attraction in foreign direct investment (FDI) attraction.

Thanks to its efforts in luring investment, the province has been listed among the top 10 leading localities in FDI attraction.

In the 2011-2015 period, the number of FDI projects and investment in the province surged threefold since the 2006-2010 period. In 2016 and 2017, the total number of FDI projects was 1.3 times higher than that in the 2006-2010 period, while investment was 2.4 times higher.

Currently, Ha Nam is hosting 240 valid projects with a total registered capital of 2.7 billion USD, including 205 projects in industrial parks worth a total of 186.5 million USD.

The development of FDI enterprises is also another important factor in the locality’s economic structure transformation.

Ha Nam’s budget collection from FDI enterprises in the 2011-2015 period reached nearly 3.26 trillion VND, accounting for 53.1 percent of its total collection. In 2016 and 2017, the figure hit nearly 2.32 trillion VND.

The FDI businesses have also created jobs for nearly 58,300 labourers, equivalent to 44.3 percent of the total labourers working in enterprises in the province. Industrial production of the FDI sector reached 40.91 trillion VND, or 52 percent of the province’s total industrial production value.

However, Ha Nam has yet to lure large-scale projects with high technology and those in support or processing and manufacturing industries.

The majority of FDI projects in the province are small to medium in size, focusing on assembly with low added value and middle technology.

Nguyen Van Quang, Director of the provincial Department of Planning and Investment, claimed that in order to continue attracting FDI in the future, Ha Nam should continue promoting administrative reform to create the best possible conditions for enterprises.

Ha Nam is working hard to complete its target of seeing all of major industrial products made using high technology and meeting international standards.

In the 2021-2030 period, the province will focus on developing human resources with a strong creativity capacity, with priority on the locality’s strong areas of afro-forestry-fisheries, electronics, telecommunications, new and renewable energy, manufacturing, and pharmaceutical chemistry.–VNA