North-central Nghe An province attracted over $1.6 billion worth of FDI during 2023, a year-on-year increase of 66.8 per cent, according to the Provincial People’s Committee.

It therefore ranked eighth out of Vietnam’s 63 cities and provinces in FDI attraction.

The province has so far attracted over 130 FDI projects from 14 countries and territories with total registered capital of more than $4 billion.

It has drawn many corporations in production and supply in the electronic technology and green energy industries, such as Luxshare - ICT, Goertek, Everwin, JuTeng, Foxconn, Runergy, Shangdong, and Sunny.

The province granted investment licenses to 116 domestic and foreign-invested projects this year, a 3.6-fold increase compared to last year. Local authorities also approved additional investment to 185 projects.

Total investment capital in both new and adjusted projects stood at more than VND57.89 trillion ($2.4 billion).

Nghe An’s Index of Industrial Production (IIP), meanwhile, rose 6.16 per cent year-on-year.

The total retail sales of goods and services were estimated at more than VND13.5 trillion ($562 million), a 1.46-fold rise compared to 2022.