FDI attraction continues to set new records

In 2024, Vinh Phuc strives to attract more than 400 million USD in foreign direct investment (FDI). However, with the attention and continuous efforts in improving and promoting the investment environment, enhancing the competitiveness of all levels, sectors and local authorities, in the first 6 months of 2024, the whole province attracted nearly 436 million USD in FDI capital, an increase of 28% over the same period, exceeding the annual plan.

Vina NewFlex Company Limited (Ba Thien 2 Industrial Park) specializes in manufacturing electronic components and circuit boards, creating jobs for many workers in the area. Photo: The Hung

The workshop “Promoting investment in industrial parks in Vinh Phuc” held at the end of June attracted nearly 100 Korean enterprises and investors of industrial parks in the province.

In particular, at the workshop, the provincial leaders awarded investment certificates to 3 new FDI and DDI projects, and witnessed the signing ceremony of a cooperation agreement between CNCTech Group Joint Stock Company and 3 Korean enterprises that decided to invest in CNCTech projects in Vinh Phuc.

Over the years, Vinh Phuc has always been an attractive destination for Korean investors with many large corporations and enterprises such as Sindoh, Cammsys, Partron, Daewoo Bus, JH Vina, Heasung Vina, ShinWon, Vina Korea, ISC Vina, Solum. Moreover, the number of Korean enterprises accounts for 40% of the total number of FDI enterprises operating in the area.

Previously, in early March 2024, the province welcomed the announcement ceremony of the Vinh Phuc Provincial Planning for the period 2021-2030, with a vision to 2050, and granted Investment Registration Certificates for new FDI and DDI projects, with a total investment of more than 20,000 billion VND.

This is considered a "push" to create new space and new development momentum in promoting and attracting investment to the province in the coming time, while affirming that Vinh Phuc is always an attractive and reliable destination for investors, especially FDI investment projects.

According to the report of the Department of Planning and Investment, in the first 6 months of 2024, the whole province granted new licenses to 23 projects with a total investment capital of 155.16 million USD, and increased capital for 21 projects with a total increased capital of 280.64 million USD.

Thanks to that, attracting FDI capital achieved high results with total capital estimated at nearly 436 million USD, up 28% over the same period and exceeding the annual plan target.

Of which, nearly 210 million USD is invested in the field of manufacturing electronic products, computers and optical products. Accumulated to the end of June 2024, the whole province has 473 FDI projects with a total investment capital of 8.3 billion USD.

There are currently 20 countries and territories with investment projects in the province, of which Korea has the largest number of investors with 231 projects and a total registered investment capital of more than 3 billion USD.

The above figures show that, in the current period when the economy is facing many challenges, FDI attraction in the province continues to grow, setting new records.

A representative of the Department of Planning and Investment said: Achieving encouraging results is thanks to the correct and drastic policies of the Provincial Party Committee, People's Council and People's Committee.

Notable are the policies and solutions to improve the investment environment and enhance the province's competitiveness, such as the Project to attract strategic investors to invest in Vinh Phuc province until 2030. Along with that, focusing on accompanying leading enterprises in priority industries such as automobiles, motorbikes, and electronics.

This creates an opportunity for large, reputable enterprises to directly reflect on problems and difficulties in production and business activities, from which they can propose appropriate policies and solutions.

At the same time, contribute to building policies and regulations on tax, environment, and carbon emissions that are suitable to the reality and capacity of enterprises, creating a positive business investment environment.

In addition, the province has strengthened on-site investment promotion and business dialogue activities, especially exchanging and listening directly to opinions from large enterprises such as Samsung and Honda on issues they are concerned about and have difficulties with.

From there, promptly and effectively receive and handle feedback and recommendations, and coordinate with relevant ministries and branches to research and propose appropriate policies and regulations, minimize barriers and create the most favorable conditions for businesses to invest and develop.

In addition, creating connections between FDI enterprises and DDIs, thereby exploiting resources, management experience, and technology of leading enterprises to support and accompany small and medium enterprises in the supply chain.

Striving to become a developed industrial province by 2025, Vinh Phuc is one of the industrial production centers of the country. Vinh Phuc continues to promote the improvement of the quality of new FDI capital flows, in which priority is given to the fields of automobiles, motorbikes, computers, semiconductors, and electronic equipment.

Accordingly, the province continues to focus on urging and accelerating the progress of infrastructure investment in industrial parks and industrial clusters to create clean land, ensuring the attraction of FDI investment.

Improve the quality of investment promotion activities, promote on-site investment promotion; build appropriate incentive and preferential mechanisms to increase the linkage between foreign and domestic investment.

Continue to implement policies to support businesses in investing in technological innovation; solutions to develop human resources, especially high-quality human resources.

Red

Source: https://baovinhphuc.com.vn/Multimedia/Images/Id/113787/Thu-hut-du-tu-FDI-tiep-uc-thiet-lap-ky-luc-moi