Nghe An Attracts Over $2.43 Billion in FDI in First Seven Months, Driven by Mega Projects

Nghe An province, located in north-central Vietnam, has attracted over $2.43 billion in foreign direct investment (FDI) in the first seven months of the year, the provincial People's Committee announced on July 30. During this period, Nghe An granted investment licenses for 44 new projects and adjusted 101 existing projects, bringing the total newly registered and adjusted capital to $2.43 billion. The scale of FDI projects investing in Nghe An has changed dramatically in recent years, with the emergence of billion-dollar projects. These large-scale investments are creating strong spillover effects and more clearly defining growth poles for the region. Notably, a 52.3% increase in export turnover from the FDI sector, reaching $535 million, is vivid evidence that FDI is generating real value for the local economy. While the FDI sector is experiencing a breakthrough, the agriculture, forestry, and fishery sectors maintain stable development. Trade, services, and tourism are also recovering, with retail sales and consumer services revenue in July exceeding VND 17.186 trillion ($700 million), an increase of 14.63%. The province welcomed over 8.2 million tourist arrivals in the first seven months. The effectiveness of production, business activities, and investment attraction has brought VND 20.285 trillion ($800 million) in budget revenue to Nghe An, reaching 86.9% of the annual plan. As of July 23, the province has disbursed VND 7.65 trillion ($300 million), equivalent to 40.83% of the total plan, which is higher than the national average. These figures confirm that Nghe An's socio-economic situation continues to achieve many positive results across various sectors.