Thanh Hoa speeds up construction projects in Nghi Son Economic Zone

Thanh Hoa (VNA) -- Investors and businesses have been urged to accelerate the construction of projects in the Nghi Son Economic Zone in the north-central province of Thanh Hoa.

 

Provincial authorities, departments and sectors, and the management board of Nghi Son Economic Zone and industrial parks (IPs) in Thanh Hoa have worked hard to address difficulties facing businesses related to investment procedures and land clearance.

The EZ has so far attracted 294 domestic investment projects worth over 149.39 trillion VND (over 6 billion USD), and 23 foreign projects with total registered capital of over 12.8 billion USD.

Many projects have been invested on schedule, contributing to creating a momentum for economic development in the locality. 

However, according to statistics from the management board of the Nghi Son Economic Zone and IPs in the locality, among the projects that have been allocated or leased land in the EZ, 51 projects are currently behind schedule.

The People’s Committee of Nghi Son town attributed the situation to difficulties caused by the COVID-19 pandemic, increasing prices of materials, and slow land clearance.

To promote the progress of projects in the EZ, especially projects being run by financially sound investors, provincial authorities and the management board of the EZ and IPs have concentrated their resources to solve these difficulties as quickly as possible.

Relevant agencies are striving to begin construction of a number of projects in the EZ , including the Dong Vang IP; the project No.1 of the Duc Giang - Nghi Son chemical complex; a resettlement project  in Tan Truong commune of Nghi Son Town; and plans for beginning the construction of some projects in early 2023.

The locality lured 54 projects, including five foreign direct investment (FDI) ones, with total registered capital of over 228 million USD in the first 10 months of 2022.

According to the provincial Department of Planning and Investment, new investment projects have focused mainly on industry, culture and tourism.

In October alone, local authorities gave in-principle approval to one domestic investment project with total registered capital of 80 billion VND.

Since the beginning of the year, local authorities have strengthened investment promotion, providing information related to planning, investment attraction fields, and mechanisms and policies to organisations, business delegations, and domestic and foreign banks.

Attention has been also paid to improving the investment and business environment, simplifying administrative procedures to create favourable conditions for businesses to access equal and transparent opportunities.

In October, local officials worked with representatives from the Sumitomo Corporation of Japan on developing an industrial park in Thanh Hoa with a business delegation from Taiwan (China) and SunGroup, the department said.

To promptly remove difficulties and obstacles facing businesses operating in the locality, and lure more investment capital, conferences have been held to improve the efficiency of investment promotion, strengthen leadership and direction in land clearance, and address planning problems in industrial clusters.

The province instructed its Investment, Trade and Tourism Promotion Centre in collaboration with departments and agencies to provide advice for the provincial People’s Committee and Special Investment Promotion Committee regarding highly feasible projects that match local planning and socio-economic development conditions.

Plans to meet and introduce projects to major European firms, especially those interested in expanding their operations in Vietnam, are also scheduled.

Authorities of districts, towns and Thanh Hoa city will review the planning on the use of land and construction to prevent overlapping, thus creating the best conditions to attract investment.

They are also to prepare conditions in terms of land, infrastructure, labour and energy to meet the demand of foreign investors who are looking to shift to new business locations.

Regarding ongoing FDI projects, agencies are hastening procedures related to investment, planning, construction, land, environment and electronic public administrative services./.