Focus on removing difficulties and attracting FDI projects

With a stable investment and business environment, the operations of Piaggio Vietnam Co., Ltd., Binh Xuyen Industrial Park have improved significantly. Photo: Nguyen Luong

In the first quarter of 2025, the province attracted 6 new FDI projects with a total investment capital of 21.95 million USD; adjusted the investment capital for 10 FDI projects with a total increased investment capital of 51.3 million USD. The total newly attracted investment capital was 74.48 million USD, equal to 21.44% compared to the same period in 2024.

Accumulated to the end of the first quarter of 2025, the province has 477 valid FDI projects with a total registered investment capital of 8.5 billion USD from 21 countries and territories around the world . The capital implemented in FDI projects in the first quarter reached 116.75 million USD, equal to 92.69% of the same period in 2024. Accumulated to the end of the first quarter of 2025, the total implemented capital of FDI projects reached more than 5.1 billion USD, reaching 60% of the total registered investment capital of valid projects.

During the quarter, FDI enterprises in the province paid about 6,209 billion VND to the budget, equal to 116.45% compared to the same period in 2024, creating jobs for more than 144,000 workers.

It is expected that by 2025, the province will attract about 30 new FDI projects with a total investment capital of about 300 million USD, and carry out procedures to adjust investment capital for 30 FDI projects with a total additional capital of about 300 million USD. The expected realized capital of FDI projects will reach 483.53 million USD; 15-20 projects will be put into operation.

However, in the context of many fluctuations in the world economy , the risk of global economic recession and especially the US announcement of imposing a tax rate of 46% on goods from many countries, including Vietnam in early April, has made the investment environment of Vietnam in general and Vinh Phuc in particular less attractive. Accordingly, some investors will reconsider the location of their factories, moving to countries with lower tax rates.

To achieve the goal of attracting FDI capital of 800 million USD or more in 2025, Chairman of the Provincial People's Committee Tran Duy Dong requested relevant departments, branches, agencies and units to have more drastic solutions, focusing on solving difficulties and obstacles, making administrative procedures fast and convenient, creating attraction for businesses and investors in the coming time.

Specifically, promote compensation and site clearance for industrial parks to attract investment; accelerate the implementation of projects and works, especially large projects and key works to accelerate the disbursement of public investment capital, promote economic growth; strengthen propaganda work, support businesses and investors to assess impacts and develop flexible response scenarios.

In addition, the Provincial People's Committee also proposed that the Government continue to direct ministries and branches to reduce administrative procedures and "sub-licenses"; review legal regulations on investment and business to amend inappropriate and unclear regulations related to investment and business procedures, especially conditional investment and business sectors in accordance with the direction of Resolution No. 02 of the Government on key tasks and solutions to improve the business environment and enhance national competitiveness by 2025.

The Government is requested to promote rapid and strong negotiations with the US to find a solution that is beneficial to both countries; minimize the reciprocal tax rate that the US applies to Vietnam; review reciprocal tax policies in a fair and reasonable manner, and have a reasonable tax reduction roadmap so that Vietnamese enterprises as well as Vinh Phuc enterprises have time to prepare and adapt.

It is recommended that the Government issue a number of flexible fiscal and monetary policies to support affected businesses such as postponing, extending, or exempting value-added tax, land rent, corporate income tax and promptly refunding value-added tax for affected orders or considering financial support for export businesses directly affected by the imposition of reciprocal taxes such as preferential loan packages, support for export loan interest rates for businesses exporting to new markets, loans guaranteed by the State, support on prices, fees, etc.

Recommend that the Ministry of Finance continue to upgrade and improve the National Investment Information System to ensure that this system operates smoothly and effectively, meeting the needs of using and exploiting information on the system, reducing the reporting burden for localities and enterprises; guide localities to build investment rates per land area and the number of local workers as a basis for considering granting Investment Registration Certificates for FDI projects.

Along with the participation of all levels and functional sectors, enterprises also need to proactively seek new export markets associated with improving product quality, participating more deeply and widely in regional and global supply chains.

Luu Nhung

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/128420/Tap-trung-thao-go-kho-khan-thu-hut-cac-du-an-FDI