Singapore Enterprises Plan to Invest Three Projects in The Southeast Economic Zone

Mepcom Offshore and Marine Co., Ltd from Singapore has recently visited a number of locations in Southeast Economic Zone (Nghe An) to promote investment in this locality.

Accordingly, the location where investors are interested and expected to invest in building 3 projects, including: Dong Hoi Port; Quynh Lap Industrial Park and Thermal Power Plant belonging to Hoang Mai 1 Industrial Park; and Hoang Mai Town, Nghe An.

Representatives of Mepcom Offshore and Marine Co., Ltd, led by Mr. Philip Lim – Director of the company and the partner of the company visited Dong Hoi Port and the project area of Quynh Lap Thermal Power Plant to research and invest in some infrastructure projects in this locality.

According to representatives of investors, they care about the depth of Dong Hoi Port, and when deciding to invest, they will turn Dong Hoi Port into a specialized port, receive many different items: coal, cement, containers, liquefied gas…; therefore, attention should be paid to the depth of the port.

Moreover, the investor stated that in addition to Dong Hoi Port, the company also researched to invest in infrastructure of industrial zones, and Quynh Lap Thermal Power Plant aims to build high-tech industrial cluster, smart farms, biotechnology… In addition, the company also wants to implement a number of high-tech projects in agricultural and industrial production; renewable electrical energy project; wind and solar power; liquefied gas factory. It is expected that when the project comes into operation, this partner will create jobs for 1,600 local workers.

On behalf of Nghe An province, Vice Chairman of the Provincial People’s Committee also had a meeting with partners from Singapore and expressed his joy and commitment to always accompanying to complete the conversion procedure of a number of projects proposed by investors.

In the short term, there are 3 projects that can be implemented immediately: Dong Hoi Port Project, Dong Hoi Industrial Park project and renewable electrical energy project. For other projects, the province will ask the Government for comments.

Dong Hoi Port has been planned with a total land area of over 1,096 hectares (of which the area of land planning is 540.4 hectares; the area of water planning is 556.3 hectares). The demand for land use in the period of 2020 is 570 ha (in which the area of land planning is 221.9 ha, the area of water planning is 348.3 ha).

The Provincial People’s Committee assigned the Center for Investment Promotion to connect with the company to provide necessary information and documents on the mechanisms and policies to attract investment of the province to study and consult.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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