Sustainability factors in Vinh Phuc investment environment

Along with attracting investment to bring great socio-economic efficiency, Vinh Phuc province pays special attention to sustainable and environmentally friendly factors in projects.

Yếu tố bền vững trong môi trường đầu tư Vĩnh Phúc

Khai Quang Industrial Park, Vinh Phuc. (Source: ALS)

In order to meet the needs of rapid and sustainable economic growth, in recent times, Vinh Phuc province has proactively and actively improved the investment environment, while creating favorable conditions for investors.

Accordingly, the province has closely directed departments, branches, sectors and localities to focus on implementing synchronous and key solutions to improve quality, gradually build a safe, effective and attractive investment environment, contributing to making the locality a locality with comparative advantages in the region in attracting investment.

According to the results announced by the Vietnam Federation of Commerce and Industry (VCCI), the Provincial Competitiveness Index (PCI) in 2022 of Vinh Phuc province reached 68.91 points, ranking 8th out of 63 provinces and cities nationwide.

Notably, among the component indices, Vinh Phuc's business support index has made an impressive leap. If in 2020, Vinh Phuc ranked 59/63 provinces and cities in terms of business support, by 2021 this locality had risen to 24/63 provinces and cities; and in 2022 it continued to rise to 4/63 provinces and cities.

With the upward momentum, this locality is struggling to find solutions to keep the province's PCI index in the top 10 of the country and restructure the economy in line with the growth model.

Notably, Vinh Phuc has promoted FDI attraction in a selective manner, prioritizing projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spillover effects, and connection to global production and supply chains. Minimizing investment attraction in the fields of mineral exploitation, natural resources, and land use.

The sustainability factor is also particularly emphasized in the directions of the provincial leaders. According to Vinh Phuc Provincial Party Secretary Hoang Thi Thuy Lan, in the coming period, the province will prioritize attracting high-tech projects, reducing emissions, being environmentally friendly, bringing great socio-economic efficiency.

In which, encourage and attract investment in developing supporting industries, especially the production of electronic equipment, semiconductors, automobiles, and electric motorbikes; prioritize the development of high-tech agriculture; encourage and attract projects in the fields of healthcare, high-quality education and training, tourism and hotel projects; prioritize investment projects in infrastructure business of industrial parks and clusters, especially investment in specialized infrastructure, creating connections and linkages of industry clusters; projects for treating wastewater, industrial and domestic waste.

Thanks to the harmony and balance in economic development and environmental protection, Vinh Phuc’s investment environment has made a good impression on many major foreign partners. In fact, large projects, strategic investors as well as multinational corporations such as Honda, Toyota, Piaggio… have chosen Vinh Phuc as their destination.

It can be seen that the continuous efforts in improving the sustainable environment have brought positive investment attraction results to Vinh Phuc and are continuing to help this locality make a good impression on investors.

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