Promoting a strong business environment for FDI enterprises in Nghe An


Nghe An, November 29th, 2016: Sai Gon Thuong Tin Joint Stock Commercial Bank (Sacombank) and Vietnam Chamber of Commerce and Industry (VCCI) in Nghe An jointly organized the business forum “Supporting and promoting a strong business environment for FDI enterprises in Nghe An”.

The Planning and Investment Department of Nghe An Province presented about investments in general and FDI investments in Nghe An province and how to attract more FDI investments in the period of 2016 – 2020. FDI enterprises were introduced about the most updated taxation policies and administrative procedure reforms. In addition, challenges and obstacles that  FDI enterprises often faced were also shared by many FDI enterprises and  promptly answered by senior leaders from the People’s Committee, VCCI, SBV- Nghe An, General Department of Taxation...  In the latter part of the forum, Sacombank presented some suitable financial solutions for FDI enterprises such as capital financing by issuing usance payable at sight L/C (UPAS); multi – currency loans to minimize risk of exchange rate fluctuation with flexible payment methods; electronic tax payment via internet port of General Department of Taxation; import-export tariff guarantees via internet payment to accelerate the clearance of goods… 


 Mr. Le Ngoc Hoa - Vice Chairmain of Nghe An Province People's Committee, to speak at the Business forum
Especially, to support FDI enterprises, Sacombank introduces a very special banking service offer only to FDI enterprise in Nghe An province from now until March 31th, 2017: free account service fee, preferential intra/inter-bank remittance fee, international payment fee, payroll, internet banking… for 6 months.
As at October 31th2016, there are 54 FDI enterprises in Nghe An province, contributing to 1.6% of total GDP and 20% of export turnover, and 61 FDI projects with total capital of nearly 1.7 billion USD. In general, most of FDI projects in Nghe An are still relatively modest comparing to other projects in other provinces.  However, export turnover of FDI enterprises has increased gradually in the past few years, thanks to finance supports from banks as well as taxation policies from state agencies in Nghe An.