Industrial parks attract new investment projects

In the context of many difficulties in the world and domestic economy , Vinh Phuc still attracts many new investment projects, especially strategic investors, thereby affirming that Vinh Phuc continues to be a safe, attractive and potential destination for investors.

CNC Tech Group Joint Stock Company is one of the new enterprises operating effectively in Thang Long Vinh Phuc Industrial Park and is continuing to expand investment in production. Photo: The Hung

In the first 8 months of 2023, industrial parks (IPs) in the province attracted 17 new FDI projects and 28 projects with increased capital, with a total newly granted and increased investment capital of nearly 446 million USD, reaching 171% over the same period in 2022 and exceeding 27% of the 2023 plan.

At the same time, 9 domestic projects were attracted; 4 projects increased capital with a total newly granted and increased investment capital of more than 5,680 billion VND, reaching 260% over the same period in 2022 and exceeding 89% compared to the 2023 plan.

Known as the province's model industrial park in terms of infrastructure quality, environment, and behavioral culture, by the end of June 2023, Thang Long Vinh Phuc Industrial Park had attracted 43 projects including: 9 domestic projects with a total investment of VND 1,269 billion and 34 FDI projects with a total investment of more than USD 1,017 million; 28 projects have come into production and business operation.

Notably, in March 2023, the Industrial Park Management Board granted an investment registration certificate to the Kitz Corporation Vietnam Co., Ltd. factory project implemented by the KITZ Corporation Investor from Japan.

The project has a total registered investment capital of 25 million USD, deployed on an area of 3.4 hectares in Thang Long Vinh Phuc Industrial Park, Thien Ke Commune (Binh Xuyen). The main objective of the project is to produce stainless steel valves with a capacity of more than 95,500 products/year. According to the investment registration, the project will come into operation from November 2024, creating jobs for about 100 domestic workers.

With synchronous and modern infrastructure investment, green and sustainable development, Binh Xuyen Industrial Park is currently leading in attracting projects and FDI capital. By the end of June 2023, the Industrial Park had attracted 134 projects, including 48 domestic projects with a total investment of nearly 4,480 billion VND and 86 FDI projects with a total investment of more than 1,363 million USD.

Most of the enterprises in Binh Xuyen Industrial Park produce auto and motorbike spare parts, mechanical engineering, electrical equipment, construction materials, etc. Typical examples include Piaggio Vietnam Co., Ltd., Prime Group Joint Stock Company, Kohsei Multipack Co., Ltd., De Heus Co., Ltd.

To attract investment projects to the industrial park, the province has successfully organized many important investment promotion conferences; welcomed and worked with many delegations of investors from other countries to visit and learn about the province's environment.

Direct the Working Group to assist the Chairman of the Provincial People's Committee to receive, guide and support the timely resolution of difficulties, problems and recommendations of enterprises; focus on reforming administrative procedures to ensure publicity and transparency in implementation according to the "one-stop-shop" mechanism, shortening the processing time from 1/3 to half of the prescribed time... to create the best conditions for investors to produce and do business effectively.

The province’s specialized agencies have supported, guided, and provided information for businesses to learn about the investment environment in the province. Thanks to that, the province’s industrial parks continue to create a good impression on domestic and foreign investors about the safe, open, and trustworthy investment environment.

By the end of June 2023, the province had attracted 450 FDI projects with a total investment capital of 7.7 billion USD and 830 DDI projects with a total investment capital of 180 trillion VND. Many enterprises with high production and business efficiency, early capital recovery, continued to invest in expanding production scale in Vinh Phuc.

Currently, many large economic groups from many countries have successfully invested in Vinh Phuc such as Toyota, Honda (Japan), Piaggio (Italy), Patron Vina, Heasung Vina, Jahwa, Sindoh (Korea), Prime Group (Thailand),...

In the province, there are more than 70 enterprises in the supply chain for Samsung, Dell and some enterprises supplying components for Apple and have formed a number of domestic enterprises that own the production supply chain such as Cosmos, A My, CNCTech... producing products for export to the US, Europe and major markets in the world .

Currently, Vietnam is a member of the World Trade Organization, participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Vietnam - European Union Free Trade Agreement; at the same time, the province has completed the planning until 2030 and the vision to 2050.

This will be an opportunity for Vinh Phuc to welcome a "new wave of investment" into the province. Therefore, in the coming time, the province will continue to promote investment promotion activities, organize investment promotion delegations to some countries such as the United States and Japan; deploy mechanisms and policies to support enterprises; maintain dialogue activities with enterprises, working groups to assist the Chairman of the Provincial People's Committee to remove difficulties and obstacles for enterprises; complete the Project on mechanisms and policies to encourage and support investment to create favorable business conditions, attract large projects, strategic investors, and multinational corporations to invest in Vinh Phuc.

Mai Lien

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