The Central Economic Commission's working delegation surveys the implementation of Resolution No. 50 of the Politburo on foreign investment cooperation in Hung Yen

Delegates attend the working session

The working delegation was welcomed by and worked with comrades: Nguyen Huu Nghia, Member of the Party Central Committee, Secretary of the Provincial Party Committee; Tran Quoc Toan, Permanent Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council; comrades in the Standing Board of the Provincial Party Committee: Nguyen Le Huy, Standing Vice Chairman of the Provincial People's Committee; Colonel Nguyen Thanh Truong, Director of the Provincial Police; Colonel To Thanh Quyet, Chief of the Provincial Military Command; leaders of a number of province’s departments and branches.

Implementing Resolution No. 50 of the Politburo, the Provincial Party Committee, the Provincial People's Council and the Provincial People's Committee have directed and issued many programs and plans; including the issuance of a plan to implement Decision No. 121/QD-TTg dated January 24, 2019 of the Prime Minister approving the plan to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Hung Yen province; a plan to implement the Free Trade Agreement between the Socialist Republic of Vietnam and the European Union in Hung Yen province; a plan to implement Resolution No. 93/NQ-CP dated July 5, 2023 of the Government on improving the effectiveness of international economic integration...

From 2019 to the first 10 months of 2024, the province has attracted 222 foreign-invested projects, with a total registered investment capital of 2,394 million USD. By the end of October 2024, the total number of active projects in the province is 2,320 projects; including 1,728 domestic projects, 592 foreign projects with a total registered investment capital of 345,323 billion VND and 7.73 billion USD. The number of foreign-invested projects in operation is about 500 projects. Foreign investors registering to invest in the province come from 22 countries and territories, of which Japan is the country with the largest number of projects and investment capital with 176 projects (accounting for 30% of the number of projects) and 3.82 billion USD (accounting for 50% of the total registered investment capital); second is China with 155 projects (accounting for 26.5% of the number of projects) and 1 billion 192 million USD (accounting for 15.6% of the total registered investment capital); Korea ranks the 3rd with 155 projects (accounting for 26.5% of the number of projects) and 811 million USD (accounting for 10.6% of the total registered investment capital)...

At the meeting, members of the working delegation requested the province to clarify some issues of interest that need to be shared, such as: The province's experience in implementing investment promotion with large foreign economic groups, site clearance to attract foreign investment projects; the transition from the state of attracting investment in breadth to attracting investment in depth, from attracting investment to investment cooperation; the connection between domestic investment and foreign investment; the work of ensuring economic security in attracting foreign investment... The contents and proposals of the working delegation were discussed specifically by the provincial leaders, departments and branches.

Speaking at the meeting, Secretary of the Provincial Party Committee Nguyen Huu Nghia said that, implementing Resolution No. 50, the Provincial Party Committee and the Standing Board of the Hung Yen Provincial Party Committee always unite and follow the direction of the Central Government to focus on leadership through the issuance of specific programs and projects with high political determination; pay attention to promoting and improving the quality of information and propaganda work on investment cooperation. In economic development, the province has a specific strategy to accelerate the urbanization rate and increase investment attraction for industrial development. The lesson learned by Hung Yen province is to constantly innovate and improve the effectiveness of investment promotion for quality projects, using modern and environmentally friendly technology... To meet the needs of foreign investors, the province prioritizes investment resources to develop transport infrastructure, telecommunications, energy, training high-quality human resources, accommodation facilities for foreign experts, social housing as well as caring for healthcare and education...

Comrade Secretary of the Provincial Party Committee Nguyen Huu Nghia proposed that the Central Government strengthen decentralization of authority to the provincial level; continue to have mechanisms and policies to create favorable conditions for domestic enterprises to develop to meet the needs of investment cooperation with foreign enterprises; have mechanisms and policies for competition between localities and the national level to improve the effectiveness of attracting foreign investment.

On behalf of the working delegation, Mr. Thai Thanh Quy, Standing Deputy Head of the Central Economic Commission, expressed his pleasure to work in Hung Yen province, a typical locality of the country in attracting investment for development in general, attracting foreign investment in particular to rapidly increase the scale of the provincial economy, making an important contribution to the development of the whole country. Through the survey, learning about the practice of attracting investment in Hung Yen province is an important basis for the working delegation to do a good job of advising the Central Committee to complete the summary report on the organization of the implementation of Resolution No. 50.