Conference Brings North Vietnam US$2B Investment

Foreign investors registered to invest over US$2 billion in northern industrial and economic zones on the first day of an investment promotion conference kicked off in northern Bac Ninh province March 26.

 

The biggest project among those is Taiwan’s WAH YUEN Technology Holdings Limited’s US$200-million project to produce laptops, LCD television components, and other electronics products at the Vinh Phuc Industrial Park (IP)

 

Other projects of note comprised the Japanese Business Association’s US$30 million investment in the Que Vo IP, and another US$32 million in the Dai Hong Hoan IP, as well as the Philippine’s URC Asean Brand’s US$38.16 million project to make soft-drinks and confectionary products, and DABACO Infrastructure Company’s US$80 million project.

 

The two-day conference introduced 700 local and foreign investors opportunities to explore northern industrial parks, export processing zones (EPZ) and economic zones (EZ).

 

To boost investment into the economic parks and zones, the Vietnamese government has approved a state budget-sourced financing mechanism to support infrastructure development for IPs.

 

According to the IP and EPZ Management Department under the Ministry of Planning and Investment, Vietnam is now home to 219 IPs, EPZs and EZs covering a total area of 61,472 hectares in 54 cities and provinces.

 

To date, IPs and EPZs nationwide have lured 3,564 foreign direct investment (FDI) projects worth over US$42.6 billion; EZs have drawn 72 FDI projects worth some US$20 billion.

 

Last year, IP enterprises earned revenues of US$28.9 billion, up 29 per cent on-year. Their exports reached US$14.5 billion, up 34 per cent on-year, accounting for 24.7 per cent of the country’s export value. (Local sources)