On the afternoon of August 1, the People's Committee of Nghe An province held a ceremony to grant the investment registration certificate to the project of Innovation Precision Vietnam Co., Ltd., belonging to Shandong Innovation Metal Technology Group (China).

At the ceremony, Chairman of the Provincial People's Committee Nguyen Duc Trung awarded the investment registration certificate for the Innovation Precision Vietnam Co., Ltd. project in VSIP Nghe An Industrial, Urban and Service Park, in the Southeast Economic Zone, to Shandong Innovation Metal Technology Group.

Project on aluminum alloy production for consumer electronics and green energy products; production of semi-processed castings and castings of all kinds from aluminum alloy to support the electronics manufacturing industry; forging, stamping, pressing and rolling metal; production of advanced machined aluminum parts to support the electronics manufacturing industry with a capacity of 100,000 tons/year.

The project has a total investment of 165 million USD, is expected to employ 1,500 workers, and covers an area of ​​nearly 11.78 hectares in VSIP Nghe An Industrial Park, part of the Southeast Economic Zone. From August 2023, the project will start factory construction and is expected to officially come into operation by October 2024.

Speaking at the ceremony, Mr. Nguyen Duc Trung - Chairman of the Provincial People's Committee emphasized that the project has two best features. Firstly, this is a project with a very high investment rate per land use area, with 328.74 billion VND/ha, the highest currently for FDI projects in the province.

Second, this is the FDI project with the fastest time to complete investment procedures. Specifically, from the time the group began to survey investment in Nghe An in early June 2023 until the investment registration certificate was granted, it took only nearly 2 months. On the other hand, from the time the group submitted the project investment proposal to the time the investment registration certificate was granted, it took only 1 week, excluding holidays, it was 5 working days.

To achieve the above results, according to the Chairman of the Provincial People's Committee, in addition to the leadership and direction of the Provincial Party Committee and the Provincial People's Committee, there are positive and important contributions from departments, branches, and localities, especially the role of the Southeast Economic Zone Management Board.

"This is also the guiding spirit of Nghe An province in innovating and improving the investment environment, accompanying and creating the most favorable conditions for investors from the beginning of the survey until the project comes into operation. This also helps Nghe An province's investment attraction work in recent times achieve positive results. Up to this point, Nghe An has attracted over 890 million USD in FDI capital, ranking 8th out of 63 provinces and cities nationwide," emphasized Chairman of the Provincial People's Committee Nguyen Duc Trung.

Besides the two best, Nghe An is the first province that Shandong Innovation Metal Technology Group chose to expand its investment in the Vietnamese market.

The Chairman of the Provincial People's Committee expressed his belief that when the project comes into operation, together with foreign investment projects currently being implemented in Nghe An, it will form an ecosystem of electronics and green energy manufacturers, contributing to the completion of the supply chain for electronics manufacturing, green energy products, and electronics industry, contributing to the development of Nghe An province.

The Chairman of the Provincial People's Committee said that according to the project documents, advanced and modern technology will be used, so it will contribute to the transfer of technology for investment projects not only for the group but also for other investors when investing in Nghe An. The project will contribute to improving industrial production capacity, creating jobs, and increasing income for a part of the labor force in Nghe An province.

Along with other FDI projects in the province, Nghe An province identifies the project of Shandong Innovation Metal Technology Group as a key project. Nghe An province will, together with departments, branches, sectors and localities, commit to accompanying the investor during the implementation process, so that the project can be put into operation and achieve the highest efficiency.

At the ceremony, Chairman of the Provincial People's Committee Nguyen Duc Trung requested departments, branches, and Hung Nguyen district to create the most favorable conditions and support investors to implement the project according to the right goals and soon put the project into operation.

The Chairman of the Provincial People's Committee also requested VSIP Nghe An Co., Ltd. to support investors in infrastructure in the industrial park to help the project deploy smoothly and operate effectively. Investors should proactively coordinate closely with departments, branches, Hung Nguyen district, VSIP Nghe An to implement the project in accordance with Vietnamese law, in line with the group's goals, ensuring environmental safety, and avoiding incidents during construction and operation. The province's viewpoint is to create the most favorable conditions for investors but not to trade off environmental factors for pure economic development.

Speaking at the ceremony, Mr. Cui Guo Chang - Special Assistant to the Chairman of Shandong Innovation Metal Technology Group expressed that after many working sessions, he deeply felt the great potential of Nghe An province in terms of human resources and infrastructure. "It is these factors that have helped the group have the determination and confidence when deciding to invest in Nghe An".

The Special Assistant to the Chairman of Shandong Innovation Metal Technology Group also expressed his gratitude and acknowledged the attention and assistance of the leaders of Nghe An province and departments and branches in quickly handling the group's documents.

Mr. Cui Guo Chang also expressed his surprise and admiration that within just 2 days, the provincial departments and branches coordinated to complete the documents for the group to be granted the project investment registration certificate; and in the 20 years of establishment, no project of the group has had such a fast processing time.

Emphasizing that this is the first project of an investment group outside of China, Mr. Cui Guo Chang said that during the project implementation, the best and most modern technology will be selected to apply to this project and there may be some technologies and techniques in China that have not been applied.

In addition, with a total investment of 165 million USD on an area of ​​nearly 12 hectares, the investment rate per hectare is larger than the group's domestic projects. The project's products will be supplied to Apple's supply chain through Luxshare and Everwin.

The Special Assistant to the Chairman of Shandong Innovation Metal Technology Group hopes to continue receiving support and companionship from Nghe An province to soon put the project into operation. The Group will continue to call on the Group's suppliers to continue investing in Nghe An.

Speaking at the ceremony, Mr. Teng Wei Hong - General Director of VSIP Nghe An Co., Ltd. expressed his gratitude for the attention of the Provincial Party Committee, Provincial People's Committee and departments, branches and sectors in granting the investment registration certificate for the project in a short time.

This demonstrates the province's active support and concern, and builds great trust with foreign investors; wishing the project of Shandong Innovation Metal Technology Group to "take root and grow deep" in Nghe An province to develop more and more strongly and achieve great success.

Reiterating the viewpoint that Chairman of the Provincial People's Committee Nguyen Duc Trung has repeatedly emphasized: The problem of investors is also that of Nghe An province, the General Director of VSIP Nghe An Company Limited said that this demonstrates the determination, unity, and cooperation of the Nghe An provincial government for foreign investors.

On this basis, VSIP Nghe An and projects in the industrial park will continuously strive to contribute to the industrialization of the beloved homeland of President Ho Chi Minh.