Vinh Phuc province’s industrial zones attracted 16 new investment projects and witnessed 19 projects increase their registered investment fund in the first six months of 2023.
Chairman of Vinh Phuc Provincial People’s Committee Le Duy Thanh at a working session with Solum Vina Co., Ltd
Specifically, the industrial zones attracted 11 new FDI projects and allowed 17 existing FDI projects to increase investment funds (US$139.9 million from new grants and US$188.3 million from existing projects), up 57% year on year and equal to 94% of the full-year plan. They also attracted five new DDI projects and allowed two existing DDI projects to increase funds (VND3,313 billion from new projects and VND1,314.5 billion from existing projects), up 21 times year on year and equal to 154% of the annual target.
By the end of June 2023, Vinh Phuc industrial zones housed 460 investment projects, including 102 DDI projects with VND31,200.51 billion (US$1.36 billion) of investment capital and 358 FDI projects with US$6.14 billion. In the coming months of the year, IZs are expected to draw 3-5 FDI projects with US$90-100 million and 2-3 DDI projects with VND200-300 billion.
To achieve these objectives, the Vinh Phuc Industrial Zones Management Board will continue to effectively carry out investment promotion in the province, hold business dialogues and provide available infrastructure in industrial zones for domestic and foreign investment projects. The board will proactively connect, contact and work with potential investors and large corporations to explore the business investment environment in industrial zones; continue to give priority to projects that use advanced technologies, apply digital platforms, use environmentally friendly technologies, make high value-added products, employ high-quality, competitive workers, and deeply and comprehensively take part in deep global production networks and value chains. It will focus on wooing FDI firms to invest in locally advantageous industries such as electronics, telecommunications, digital, automobile, smart production, smart factory, new material, real estate in industrial zones and supporting industries.
Additionally, the board will continue to closely coordinate with relevant bodies and localities to advise and propose the provincial government launch support policies for high-tech electronics projects to grasp the opportunity to attract giant corporations, high-quality investment flows, and high-tech projects in the coming time.
At the same time, the board will continue to provide timely support for companies and investors to tackle their difficulties to create a favorable, safe investment environment, sharpen competitiveness and boost investment inflows into industrial zones.
By Tran Trang, Vietnam Business Forum
Vietnamese
