Ha Nam province sees positive signs of FDI

(VOV) - Despite the impact of the global economic downturn, the northern province of Ha Nam is optimistic about foreign direct investment (FDI) inflows.

The Ha Nam Department of Planning and Investment says it has licensed 11 projects with a total capitalization of US$78.4 million in the first half of the year, bringing the province’s total valid projects to 77 with a combined registered capital of US$669.6 million.

Among several major foreign investors, Japan and the Republic of Korea (RoK) have positively contributed to socio-economic development in the province.

From 2001–2005, Ha Nam had only five projects licensed with a total capitalisation of US$7.5 million.  Then, in the next five years (2006–2010), it saw the figure rising to 39 worth US$267.8 million in total.

The largest include a US$40 million project to build the Frieslandcampina Ha Nam milk factory, Sumi Vietnam Wiring System Co. Ltd’s US$29 million project specialising in producing small wire car and motorbike harness cables, and Cargill Vietnam Co. Ltd’s US$15 million livestock feed project.

Since 2011, Ha Nam has licensed 33 more projects with a total registered capital of US$394.3 million.

In the first six months of 2013, the FDI sector generated around 15,600 jobs (up 15.4 percent) and contributed US$12.5 million to the state budget, (up 27.8 percent), and earned US$293 million in revenue (up 36.6 percent) compared to a year earlier.

ha nam province sees positive signs of fdi hinh 0

Some of the newly-licensed projects include Myeongsung Vina Co. Ltd’s mobile microphone production project and Finetek Vietnam Co. Ltd’s touchscreen panel project in Phu Ly district and Keyrin Telecom Vietnam Co. Ltd’s advanced electronics manufacturing project in Duy Tien district.

Apart from Japan and the Republic of Korea, Ha Nam has also attracted a number of investors from the US, Australia, Holland, Singapore, and Taiwan.

The province is expected to welcome another 15–20 foreign investors with a total registered capital of around US$120 million, generate an additional 18,200 jobs, and contribute around US$24.9 million to the state budget by the end of the year.

Foreign investors help promote trade exchange

Ha Nam has learned a lot of experiences from Japanese and South Korean investors. Provincial authorities recently selected a Japanese enterprise director who is Chairman of Hiroshima Small and Medium-sized Business Association to serve a bridge between Japanese enterprises through his trade promotion office.

In addition, they have closely worked with the department of transport on the opening of more bus services for commuting workers to ensure their safety and productivity levels.

They have always encouraged organisations and individuals, both foreign and domestic to engage in attracting more foreign investment to the province.

The Ha Nam provincial People’s Committee is set to upgrade infrastructure facilities, improve the training of high quality human resources, and push through administrative reforms at any cost.