Investment attraction - Driving force for economic and social development

Located in the key economic zone of the North of the Capital region, Vinh Phuc plays an important role in the regional and national economic development strategy.

Thang Long Vinh Phuc Industrial Park with a total area of ​​over 200 hectares, synchronously and modernly invested, is an attractive destination for foreign investors. Photo: The Hung

Promoting existing potentials and advantages, over the years, the province has always been consistent in its innovative thinking and vision, in which it has determined to focus on developing industry as the foundation and driving force for economic development. Accordingly, it has focused on innovating promotion work, "rolling out the red carpet" to attract investment in projects with large capital scale and high quality.

Thanks to that, from a purely agricultural province with slow economic development and backward production, Vinh Phuc has risen to become one of the typical localities with comprehensive development in all fields with high economic growth rate.

In 2024, the province's GRDP will increase by 7.52%, higher than the average growth rate of the whole country, achieving the set plan target. The scale of the province's GRDP at current prices is estimated at about 173.14 trillion VND. The average GRDP value per capita will reach 141.3 million VND/year, an increase of 8.7%, equivalent to an increase of 11.3 million VND compared to 2023. The province's state budget revenue is always among the top in the country, since 2004 it has been able to balance budget expenditures and contribute to the central budget.

The economic structure is shifting positively towards industrialization and modernization, playing the leading role and driving force for economic development.

To achieve the above economic achievements, it is necessary to attract investment, especially strategic investors with large projects, modern and advanced technology, green and sustainable development in the area such as Honda, Toyota, Sumitomo, Piaggio, Viet Duc Steel, CNC Tech...

Promoting the achieved results, accelerating and making breakthroughs in attracting investment, and entering a new era with the country, in 2025, the province will promote administrative procedure reform. In particular, focusing on shortening the time for processing documents and speeding up the progress of land allocation and construction permits.

Organize investment promotion delegations in India, the United Arab Emirates (UAE) and South Africa. In late March and early April 2025, the province established an investment promotion delegation in Japan and South Korea led by the Chairman of the Provincial People's Committee, opening up many opportunities to attract enterprises with modern technology, increasing the occupancy rate of industrial parks in the area.

CNCTech Group Joint Stock Company is increasingly expanding its production scale, contributing to creating more jobs for local workers and increasing the local budget revenue. Photo: Hong Tinh

Organize dialogue conferences between the leaders of the Provincial People's Committee and enterprises to remove difficulties for enterprises investing in the province. Up to now, investment attraction activities in the province have had positive changes, attracting investment in the area has improved a lot.

In April 2025, the total newly registered and adjusted investment capital of domestic investment (DDI) and foreign investment (FDI) projects reached VND 487.47 billion, up 107% compared to March 2025 and USD 65.024 million, up 237% compared to March 2025. The number of newly registered projects in both DDI and FDI sectors has an increasing trend, showing that investors have been actively returning to survey and explore investment opportunities in the area. Thereby, there have been positive contributions to the process of economic development, labor restructuring, and ensuring social security in the area.

By 2025, Vinh Phuc strives to be a developed industrial province, one of the industrial production centers of the country. To achieve the above goal, the province is promoting the improvement of the quality of new FDI capital flows, with priority given to the fields of automobiles, motorbikes, computers, semiconductors, and electronic equipment.

The province continues to urge to accelerate the progress of infrastructure investment in industrial parks and industrial clusters to create clean land, ensuring the attraction of FDI. Improve the quality of investment promotion activities, especially promoting on-site investment promotion.

Develop appropriate incentive and preferential mechanisms to increase the linkage between foreign and domestic investment. Continue to implement policies to support enterprises in investing in technological innovation. Synchronously implement solutions for human resource development, focusing on high-quality human resources.

Improve the effectiveness of business support services, especially for small and medium enterprises in digital transformation, market expansion, human resource development, application of green transformation models, and sustainable business.

Red

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/127184/Thu-hut-dau-tu---Dong-luc-thuc-day-phat-trien-kinh-te-xa-hoi