Binh Xuyen IP Leads FDI Inflows

Industrial parks in Vinh Phuc province attracted 24 new foreign direct investment (FDI) projects and witnessed 19 projects adding investment funds in the first nine months of 2021, according to the Vinh Phuc Industrial Parks’ Authority. FDI inflows rose 405% year on year to US$928.99 million, fulfilling 99% of the yearly plan.

With asynchronous and modern technical infrastructure and a separate wastewater treatment system, Binh Xuyen Industrial Park has attracted the most projects and the largest value in the nine-month period. By the end of September, it served 122 projects, including 84 FDI projects (over US$1,275 million) and 38 DDI projects (over VND3,790 billion). The occupancy rate reached 92%. Most of the tenants are involved in auto and motorcycle parts manufacturing, mechanical engineering, electrical equipment, chemicals and construction materials. They are hiring more than 10,000 employees. Good performers in Binh Xuyen Industrial Park include Piaggio Vietnam Company, Prime Group Joint Stock Company, Kohsei Multipack Co., Ltd and De Heus Co., Ltd.

In the face of the complicated COVID-19 pandemic, by effectively preventing and controlling the COVID-19 pandemic, improving the investment environment, and promptly introducing business support mechanisms and policies, Vinh Phuc continued to affirm itself as an attractive destination for investors.

By Nguyet Tham, Vietnam Business Forum