Business Business

11/01/2022 - 17:28

Projects to overcome the COVID-19 “storm”

Difficulties and limitations due to the effects of COVID-19 pandemic do not falter investors. Investment projects still contributed to bringing new “breath” during the period when pandemic prevention came along with economic development, creating promoted steps in investment.

Mr. Le Truong Luu, Secretary of the Provincial Party Committee (fourth from the right), visiting the rice milling plant of the Provincial Agricultural Materials Joint Stock Company

Being dynamic to reach the target

During the crunch time to promptly hand over the home to customers in 2021, Aranya apartment investors of Aranya Vietnam Joint Stock Company encountered many difficulties due to the main staff living in Hanoi. Internal and exterior equipment is also basically ordered from external province partners, so during pandemic outbreaks, transporting goods as well as operating works met with many difficulties.

Instead of deploying personnel to move continuously, Aranya Vietnam Joint Stock Company must deploy the staff to be on a “war footing” in collaborating with the on-site personnel force to speed up the project.

According to Mr. Chu Tien Dung, Vice Chairman of Aranya Vietnam Joint Stock Company, the pandemic makes the immediate direct for the projects encounter difficulties due to travel restrictions. There was even a time when the company leaders were almost so powerless as they could not leave Hanoi to fly to Hue to direct the project implementation until the directives were removed.

During this time, the Project Management Unit only works online; nevertheless, the results of the project implementation process, difficulties and problems in this process are still reported by the staff “clinging” in Hue. As a result, the project process being implemented; and the projects being researched and promoted for investment were still guaranteed.

In November, the unit handed over the houses in the second phase for customers. The projects that the units have researched for investment are also accelerated. “Disease is a force majeure factor. However, if we hesitate to implement the project because of the pandemic, this would fail the customers’ belief as they have put their trust in the business as well as the province's expectations when approving the project investment," Mr. Dung shared.

Not only the projects of out-of-province investors, foreign-invested projects also encounter enormous difficulties. In addition to the difficulties in human resources, these projects also depend heavily on foreign equipment and technology. The story of completing investment in the production line to process sand and high-quality low-iron quartz powder by Viet Phuong Group is considered a miracle.

Mr. Nguyen Anh Nguyen, Permanent Deputy General Director of Hue Premium Silica Company under Viet Phuong Group, occasionally shared about difficulties when this project must import equipment and depends entirely on the team of foreign experts. Meanwhile, the team of foreign experts could not directly carry out the assembly of the line system at the factory due to the influence of the pandemic.

Faced with that difficulty, the company's team of engineers had to proactively complete the assembly of the entire line with the remote support of foreign experts and promptly put it into operation in August. In addition, the company must carry out production according to the "3 on-site" process to prevent the pandemic and ensure production at the same time.

High growth

Despite the difficulties, the total investment capital of the whole society in the year still reached 20,975 billion VND; in which, investment capital of enterprises reached 2,785 billion VND (increasing by nearly 25%) and foreign investment capital is 1,550 billion VND (increasing by 1.52 times compared to the same period last year).

The enterprise's capital is mainly invested in industrial projects that are urgently completed to put into production and trade , contributing to increasing state budget revenue, such as the construction project of sand processing plant, and high-quality low iron quartz powder (Hue Premium Silica), etc.

Several projects in the fields of textiles and garments, mining of minerals, and investment projects in industrial parks also ensure the implementation on schedule; in which, the project of Spinning Mill Factory No.3 of Phu Bai Spinning Mill Joint Stock Company has a scale of 30,240 spindles with a total investment of 511 billion VND.

Enterprises overcome difficulties, and the investment projects also speed up progress; these have made important contributions to local economic growth, especially in the FDI sector. During the year, the state budget revenue from this sector increased by 13% over the same period to about 2,800 billion VND, reaching 145% of the estimate.

The reason for this revenue’s increase is mainly because Carlsberg Beer Vietnam Co., Ltd. has an output increase of 7% in 2021 and an increase of 8% in payment. Some key enterprises have increased payment over the same period, such as Scavi Hue Company increased by 286%, Hanesbrands Vietnam Hue Co., Ltd increased by 44%, etc., creating high growth for this sector.

In addition, revenue from the non-state economic sector also increased by 12% with an estimated revenue of 1,350 billion VND, reaching 147% of the estimate.


Not only the investment situation, attracting investment during the year is also considered a bright spot. In this year, there were 30 projects licensed for investment and 9 projects adjusted to increase capital with a total investment capital newly granted and increased by 14,125 billion VND.

Notably, within the framework of the recent official visit to Japan, Mr. Nguyen Van Phuong, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, and the delegation had a meeting and attended a business talk with leading Japanese investors.

The Chairman of the Provincial People's Committee also awarded the decision to invest in a shopping center with an estimated total investment capital of about 170 million USD to AEON MALL Vietnam Co., Ltd. This project is expected to contribute to improving the quality, services and living conditions for people and investors in the province; at the same time, opening new opportunities in attracting investors from Japan in particular and other countries in general.

Many big investors also participate in investment research in the province in the fields of urban, tourism and trade such as Vsico Maritime Joint Stock Company, Vicofrit Joint Stock Company, FLC Group, etc.

Mr. Nguyen Dai Vui, Director of the Department of Planning and Investment, shared that in the implementation of the project, the province has strengthened support for businesses in the process of finding and recruiting workers, acting as a focal point to link with other localities and training establishments, to train workers according to orders, taking measures to recruit labor to support and supply labor sources for businesses.

In addition, the province also connects with businesses regularly to grasp their difficulties and problems so as to have a timely solution, building trust for investors to carry out research and investment in the province.

Making a mark in attracting investment, the province also publicly shares projects calling for investment after the investment policy has been approved by the Provincial People's Committee so that many investors can pay attention to and participate in doing research about projects. After that, it is necessary to conduct the investor selection process in accordance with the law to best ensure the conditions, criteria of capacity, experience and finance suitable for the project.  At the same time, it’s important to create a transparent investment environment, to issue clear regulations in investment activities to attract potential investors to Thua Thien Hue province.

Story: Hoang Anh. Photo: Ngoc Minh