Photo: Iz Ha Nam
Northern province makes special pitch to investors from both countries.
Ha Nam province is committed to providing the best conditions possible to attract investors, including tax preferences, modern infrastructure, speedy administrative procedures, and a trained local workforce, Mr. Nguyen Xuan Dong, Chairman of the Provincial People’s Committee, told the Conference on Investment Promotion in Ha Nam Province 2016 held on August 6.
The northern province’s focus is on support industries, processing, and high-tech manufacturing that is environmentally friendly and sustainable.
It also views investors from Japan and South Korean as strategic investors because of their quality and environmental protection, according to Mr. Mai Tien Dung, Minister and Chairman of the Office of the Government.
Japanese and South Korean investors are active in support industries, processing and electronic and component manufacturing and can help the province in its economic development and environmental protection efforts, Mr. Dung, who was previously the Secretary of the Ha Nam Provincial Party Committee, told the conference.
“We are committed to providing 24/7 electricity to investors in Ha Nam, as when local supply can’t meet demand we can access power from a cement kiln and 137 quarrying companies,” Mr. Dung stressed.
Ha Nam is one of Vietnam’s most attractive investment destinations thank to its proximity to Hanoi and various industrial zones, according to Mr. Atsusuke Kawada, Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi.
He added that the commitments and enthusiasm of senior provincial leaders are heartening for Japanese investors. “JETRO encourages Japanese enterprises to go to Ha Nam because of its commitment to quick procedures and to creating favorable business and investment environments.”
Mr. Chung Hoon Lee, CEO of Seoul Semiconductor Co. Ltd, also spoke highly of Ha Nam, confirming its potential and opportunities and varied infrastructure that can provide a competitive advantage to investors. He added that public servants in Ha Nam are active and supportive in issuing plans and programs to support investors.
Seoul Semiconductor Co. Ltd was officially granted a license at the conference for its LED and LED component project valued at $300 million at the Dong Van I Industrial Zone.
“When looking at investment partners in Ha Nam there are many from Japan and South Korea,” said Mr. Tran Dinh Thien, President of the Vietnam Institute of Economics, adding that the province is selective in choosing quality investment partners.
Prime Minister Nguyen Xuan Phuc also spoke highly of the efforts made by Ha Nam in terms of investor attraction, in particular regarding the reform of its administrative procedures. “It will not exchange economic development for environmental protection, and this is a sustainable and long-term competitive advantage,” he told the gathering.
Mr. Bui Tat Thang, President of the Vietnam Institute for Development Strategies at the Ministry of Planning and Investment, said that Binh Duong in the south and Bac Ninh in the north lead the way in attracting foreign investors but Ha Nam has its own momentum in attracting investors by focusing on quality and sustainability.
In the first half of this year Ha Nam’s GDP totaled VND11.87 trillion ($532.25 million), representing 48.1 per cent of its annual plan and growing 10.9 per cent year-on-year. GDP per capita stood at VND21.97 million ($985), representing 45.5 per cent of the annual plan and a 16.2 per cent increase year-on-year. Export turnover was $553.7 million, or 44.3 per cent of the annual plan and 24.3 per cent higher year-on-year.
Commitments to investors
- Ha Nam province
- South Korean investors
- Japan investors