November 27, 2023 | 13:50 GMT+7

Nghe An wins big in investment attraction and exports

Nguyễn Thuấn -

FDI inflows into north-central province hit $1 billion for the first time.

The Chairman of the Nghe An Provincial People’s Committee speaks at its November meeting.
The Chairman of the Nghe An Provincial People’s Committee speaks at its November meeting.

Investment attraction and export revenue are two bright spots in north-central Nghe An province’s economic development in 2023, the November meeting of the Nghe An Provincial People’s Committee heard.

It has attracted over VND46 trillion (nearly $1.9 billion) worth of investment capital so far this year, or 1.38-fold higher than the target.

The number of newly-approved projects rose 13 per cent year-on-year, with registered capital exceeding the target by 1.4-fold. For the first time, FDI inflows surpassed the $1 billion mark, and are expected to reach nearly $1.5 billion by the end of the year.

Its export value, meanwhile, is estimated at $2.88 billion, or 100.4 per cent of the annual target and up 13.51 per cent year-on-year.

Economic growth was estimated at 7-7.3 per cent in 2023, and while Nghe An has failed to reach the target its outcomes are considered positive amid a generally difficult context.

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