Vietnam’s Nghe An Province Looking for Investors
Feb. 9 – For the fourth time, Vietnam’s Nghe An Province recently organized a conference to show and present its potential as a location for new investment projects.
Ho Duc Phoc, chairman of the Nghe An Provincial People’s Committee, explained that in the last few years the province has increased its efforts to attract new investors and to boost the settlement of production plants and other business activities in the area.
Through the conference, it is hoped that local and foreigner investors will have the opportunity to better understand the high business potential of the province and of its economy, which has been growing at a considerable rate in the last few years. Nghe An attracted more than US$809.5 million in 2009, US$857.1 million in 2010 and reached its best result in 2011, during which more then US$1.3 billion flew in its economy.
Inflowing capital, employed in some strategic sectors, not only will increase the welfare of this area but will also generate many benefits to plenty of other local firms of different size, making the local economy able to remain competitive.
Nowadays, the province administration is heavily working on implementing the attractiveness of the area, improving infrastructure (such as airports, seaports, roads and railways) and working on the territory to be able to offer suitable areas for new capital suppliers.
Considerable efforts have also been made in a simplification process of the administrative procedures needed to set up a new company, which means lower costs for investors.
Dezan Shira & Associates is boutique professional services firm providing foreign direct investment business advisory, tax, accounting, payroll and due diligence services for multinational clients in Vietnam. To contact the firm, please email firstname.lastname@example.org, visit www.dezshira.com, or download the firm’s brochure here.