Sailing across the sea in search of the big "fish"

Comrade Tran Duc Thang, Member of the Central Committee of the Communist Party of Vietnam and Secretary of the Hai Duong Provincial Party Committee, speaks at the Hai Duong Province Investment Promotion Conference in Houston, USA, in September 2023. Photo: Consulate General of Vietnam in Houston.

Proactively promote investment.

In September 2023, Hai Duong province, in coordination with the Consulate General of Vietnam in Houston (USA), co-organized the Hai Duong Provincial Investment Promotion Conference with the theme "Connecting - Cooperating - Partnering". The event attracted more than 120 attendees, including many US investors and businesses operating in various fields.

At the conference, Comrade Tran Duc Thang, Member of the Central Committee of the Party and Secretary of the Provincial Party Committee, informed that Hai Duong is considered one of the 20 localities with the best industrial infrastructure quality in the country. This is a prominent advantage that makes Hai Duong an attractive investment destination for foreign businesses. Currently, Hai Duong ranks 4th in the Red River Delta region and 11th nationwide in attracting foreign direct investment (FDI).

Comrade Trieu The Hung, Deputy Secretary of the Provincial Party Committee and Chairman of the People's Committee of Hai Duong province, held discussions with Vietnamese and British investors.

Many US businesses and investors have exchanged views, discussed, and raised issues with the leaders of Hai Duong province regarding opportunities for cooperation and investment. Investors are also particularly interested in administrative reforms and preferential policies when investing in Hai Duong.

Besides the United States, the leaders of Hai Duong province also organized many delegations to promote investment in Japan, Belgium, the United Kingdom, France, and other countries. Through these trips, many foreign investors signed memoranda of understanding on investment cooperation in Hai Duong.

In 2023, the Cong Hoa Industrial Park (Chi Linh) was one of three industrial parks in Hai Duong province with available land for lease to attract investment. To find large, potential investors, the park's infrastructure developer organized numerous overseas trips to promote investment. "During meetings with partners from China, Taiwan (China), South Korea, and Japan abroad, we provided information and answered investors' questions," said Mr. Pham Trung Thai, Chairman of the Board of Directors of Vietnam Rubber Industrial Park and Urban Development Joint Stock Company, the developer of this industrial park.

The Cộng Hòa Industrial Park also established an Investment Promotion Center, preparing video clips and documents translated into Chinese, Korean, Japanese, etc., to promote and introduce its infrastructure and preferential investment policies. By the end of 2023, this industrial park had attracted 6 FDI projects with a total investment of hundreds of millions of USD. Of these, 2 projects have been granted investment registration certificates with a total capital of over 170 million USD. These are the Waffer Technology factory project of Perfect Light Co., Ltd. (Taiwan), with an investment of nearly 52 million USD; and the project to build a solar photovoltaic cell manufacturing plant by Boviet Hai Duong Solar Energy Science and Technology Co., Ltd., with a total investment of 120 million USD.

Surpassing the $1 billion mark in investment.

Leaders of Vietnam Rubber Industrial Park and Urban Development Joint Stock Company signed a memorandum of understanding for comprehensive strategic cooperation with Zhejiang Supply Chain Management Co., Ltd. (China).

Having been in operation for less than two years, An Phat 1 Industrial Park (Nam Sach) has essentially filled its area with completed infrastructure in phase 1 and has become a bright spot in attracting investment to the province in 2023. In 2023, this industrial park attracted 10 secondary projects (9 FDI projects and 1 DDI project) with a total investment of approximately 400 million USD. The most notable is the project of Biel Crystal Technology Manufacturing Co., Ltd. (Singapore) with a total investment of approximately 260 million USD.

According to the investor's representative, in addition to ensuring technical infrastructure and preparing the best conditions to welcome secondary investors, An Phat 1 Industrial Park has recently intensified investment promotion efforts; actively participating in cooperation conferences with foreign partners organized by the Government and ministries.

In 2023, industrial parks in the province attracted approximately $1.23 billion in investment, an increase of over $900 million compared to 2022.

Mr. Nguyen Trung Kien, Head of the Provincial Industrial Parks Management Board, said that proactively promoting investment instead of waiting for investors to come has helped Hai Duong access large, potential markets. Through these trips, Hai Duong also gained a better understanding of the needs and desires of FDI enterprises before deciding to invest. These are important factors for Hai Duong to attract many large projects to its industrial parks in 2023. In recent times, the province and specialized agencies have also effectively shortened administrative procedures, creating favorable conditions for investors. Hai Duong has the potential of large land resources coupled with a synchronized and modern industrial infrastructure and abundant human resources, creating advantages in attracting investment.

According to the report of the Provincial Industrial Parks Management Board, in 2023, industrial parks in the province attracted approximately US$1.23 billion in investment, an increase of over US$900 million compared to 2022 and six times the planned target. Of this, the board granted licenses to 56 new FDI projects with a total registered investment capital of over US$1 billion; and approved capital increases for 31 FDI projects with a total additional registered capital of approximately US$212.6 million.

This is the highest result in the last 10 years for the province and the second time the province has reached over 1 billion USD after 35 years of attracting FDI. Notable examples include several large projects by Deli Group Co., Ltd. (270 million USD) in the expanded Dai An Industrial Park; Biel Crystal Technology Manufacturing (250 million USD) in the An Phat 1 Industrial Park; BoViet Solar Energy Science and Technology (120 million USD)...

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Source: https://baohaiduong.vn/vuot-bien-tim-ca-lon-369501.html