Despite ongoing economic challenges, Vinh Phuc province recorded positive investment attraction results in the first five months of the year, with US$218.3 million in foreign direct investment (FDI), reaching over 60% of the target set by the Provincial People’s Council, 36.4% of the scenario projected for double-digit economic growth, and 44.9% of the value recorded in the same period of 2024.
Tran Duy Dong (R), Chairman of the Vinh Phuc Provincial People’s Committee, meets with General Director of Honda Vietnam Sayaka Hattori
In addition, domestic direct investment (DDI) totaled over VND 4,200 billion, exceeding the target set by the Provincial People’s Council by 40.1%, fulfilling more than 84% of the projected scenario for double-digit growth, and increasing by 77% compared to the same period in 2024.
Encouragingly, many investors, businesses and international organizations from Japan, South Korea, China and other countries came to explore cooperation and investment opportunities in the province. Notable examples included Samsung Group, iMarket Co., Ltd., MM Mega Market Vietnam Co., Ltd., Vietnam International Trading Investment Joint Stock Company, Waste-to-Energy Plant Investment Joint Stock Company, a delegation from Hekou County - Honghe Prefecture (Yunnan Province, China), Maki Company (Tochigi Prefecture, Japan), Yi Guang Group, Yong Xia Investment Consultation Co., Ltd, Songshan Lake Group, and Aeon Vietnam Co., Ltd.
According to a provincial leader, Vinh Phuc places great emphasis on investment promotion to achieve its double-digit growth goal and to support businesses. Since the beginning of the year, the province has organized many investment promotion missions to key markets like South Korea, Japan, South Africa, India, the UAE, Taiwan (China), the UK, Sweden, Spain, Australia and New Zealand. Additionally, it has participated in and co-hosted several conferences and seminars on investment and tourism promotion, both locally and nationally, including the Tourism Promotion Conference in Da Nang City and the “Meet Korea” Conference in Hung Yen Province organized by the Ministry of Foreign Affairs. These activities have helped enhance the province’s image and development potential in the eyes of domestic and foreign partners and investors.
Vinh Phuc has also compiled and published various promotional materials such as leaflets, pocket-sized brochures and books on investment promotion in five languages; materials with respect to information on Decree No. 182 of the Government; and guidance for businesses to access the Investment Support Fund.
Specially, the province has developed and completed a promotional video on investment environment in five languages (Vietnamese, English, Chinese, Korean and Japanese). The video features a modern design with concise and comprehensive content, highlighting Vinh Phuc’s full potential, strengths, development orientation, incentive policies, and a transparent and investor-friendly business environment.
This serves as an effective communication tool that helps enhance the province’s image and attracts attention from both domestic and foreign investors -particularly during investment promotion events, conferences and meetings with domestic and foreign businesses and investors.
Affirming the local government’s openness, attention and commitment to supporting the business community, Vinh Phuc regularly organizes dialogue conferences to meet with businesses, address challenges and remove obstacles, thereby building its prestige to investors and businesses.
Since the beginning of the year, the Department of Finance, in coordination with the Vinh Phuc Management Board of Industrial Zones and the Investment Promotion and Business Support Center, has assisted over 5,000 businesses, investors and consulting companies in accessing the investment environment, completing business registration procedures, and exploring cooperation opportunities.
To date, Vinh Phuc has a total of 1,329 investment projects, including 487 FDI projects with a total investment capital of over US$8.61 billion and 842 DDI projects with over VND147 trillion of investment capital.
To realize its goal of achieving double-digit economic growth and enhancing the contribution of the FDI sector to socioeconomic development, Vinh Phuc aims to selectively attract FDI in the coming time, focusing on high-tech, advanced technology, new technology, green investment projects with high added value, modern management, and strong linkages between the FDI and DDI sectors, and connections with global production and supply chains as well as high responsibility to society and environmental protection.
By Hien Le, Vietnam Business Forum
Vietnamese
