09:48 | 07/08/2015 Economy
Thanks to its favourable investment climate, northern Ha Nam province has drawn a huge amount of foreign capital, according to the Vietnam Investment Review.
A soft drink factory based in Ha Nam (Photo: VNA)
Ha Nam province is currently among the top 10 most popular destinations for foreign investors. Provincial leaders have pledged to support investors in terms of taxes, land, electricity and labour training and recruitment. It only takes investors an average of three to five days to receive investment certificates.
In the past few years, the province has seen thriving results in foreign capital attraction with effective operations by numerous firms such as Hashima Honda, Anam Electronics, Sumi Vietnam Wiring Systems, AEC Technologies and Dutch Lady.
At an economic-investment promotion conference slated for August 6, the province is expected to grant investment certificates to domestic and foreign investors from Israel, Japan and the Republic of Korea (RoK). A Memorandum of Understanding on dairy cow breeding is scheduled to be signed between the province and Hoang Anh Gia Lai Group.
Hailing efforts made by the province, Deputy Prime Minister Hoang Trung Hai said that Ha Nam is a first-class destination for foreign investment in electronics, food and agriculture.
The province is focusing on industrial production, industrial zone infrastructure, waste treatment facilities, agriculture, healthcare, education-training and tourism-service projects.
At the end of July, Japanese Seibu Nousan, specialising in agricultural products, discussed a project to develop Japon-ica rice farming and processing for exports in Ha Nam with provincial authorities. Local leaders committed the upmost support for the investors, with the hope of gaining access to Japanese rice-cultivating techniques.
The provincial leaders also worked with Japan’s Flower Corporation on investment plans in a hi-tech agricultural zone.
Mai Tien Dung, Secretary of the provincial Party’s Committee and Chairman of the provincial People’s Council, guaranteed to increase the public service quality, provide sufficient electricity and ensure security for enterprises.
The province recently granted an investment certificate to the Nuti-Food Nutrition Food Joint Stock Company to construct a 1.6-trillion-VND (74.4 million USD) milk production plant across 10 hectares. The plant is expected to produce over 200 million litres of milk and 31,000 tonnes of powdered milk annually.
The province is also an ideal destination for electronic and agricultural projects. The RoK’s KMW branch in Vietnam began work on a telecommunications and LED light manufacturing plant in Duy Tien district. Once operational, the plant will create 220,000 telecommunication products and 380,000 LED lamps each year, creating jobs for 3,000 workers.
RoK KMW chairman Kim Duk Yong spoke highly of Ha Nam’s investment policies, saying that KMW will enlarge its investments and production in the locality and apply advanced technology turn the factory into the largest producer of telecommunications equipment and LEDs in the world.
Earlier, Japanese Sinfonia Microtec commenced construction on a 14,200-square-metre plant making spare electronic parts in Dong Van II Industrial Park.
In mid-July, about 20 energy and electronic enterprises from the RoK came to Ha Nam to seek investment and business opportunities.
Most investors agreed that the provincial preferential policies will open doors for more foreign investment in the future./.