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Vietnam’s Nghe An province experiences steady FDI growth in 2024

In 2024, Nghe An province recorded 19 new foreign direct investment (FDI) projects with a total capital of US$1.75 billion, according to data from Vietnam’s Ministry of Planning and Investment. This marks a slight increase from 2023 of 8.76 percent, when the province registered new capital to the tune of US$1.6 billion.

Foreign direct investment (FDI) in Nghe An Province has been growing steadily, reflecting the province’s efforts to attract investors through its strategic location, improved infrastructure, and supportive policies. Located in north-central Vietnam, Nghe An serves as a gateway connecting the northern and southern regions and has a border with Laos, offering access to regional markets. Key sectors attracting FDI include manufacturing, agriculture, food processing, textiles, and renewable energy.

Nghe An has developed industrial zones such as VSIP Nghe An and WHA Industrial Zone to accommodate foreign investors, providing modern facilities and streamlined administrative support. Investors from countries like Japan, South Korea, Singapore, and Thailand have contributed to the province’s economic development, leveraging its abundant labour force and favourable investment incentives. With ongoing investments in infrastructure, including transportation and logistics, and a focus on sustainable and high-tech industries, Nghe An is positioned to become a more prominent destination for FDI in Vietnam’s central region.

See also: How to Start a Business in Vietnam

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