Thailand Among Top 4 Foreign Investors in Vinh Phuc Province

Thailand is now ranked fourth in terms of registered investment projects among 20 countries and territories investing in Vinh Phuc province. This achievement reflects the efforts of provincial authorities to engage with Thai businesses, provide timely support, and address any investment challenges. Vinh Phuc views Thailand as a key partner and aims to strengthen this cooperation moving forward.

Prime Group (Binh Xuyen IP) is a  major Thai enterprise that has significantly contributed to the provincial budget

To date, Vinh Phuc province has attracted 473 foreign direct investment (FDI) projects from 20 countries and territories around the world with a total registered capital of more than US$8.3 billion and 841 domestic direct investment (DDI) projects with more than VND142 trillion of investment capital. Thailand invested over US$800 million in 15 projects in Vinh Phuc, ranking 4th after Korea, Japan and Taiwan (China). Most of Thailand's investment projects are involved in processing industry, construction materials production and commercial centers.

The Vinh Phuc Strategic Investor Attraction Project to 2030 underlines specific goals: Attracting FDI value of US$2-2.5 billion and increasing the proportion of registered investment capital from countries and territories in some regions in the total FDI capital to more than 80% by 2030. To achieve these goals, Vinh Phuc will continue to implement reforms and enhance the effectiveness of its localized investment promotion efforts, aiming to foster a more favorable business environment for investors, including those from Thailand. The province will direct agencies and localities to effectively execute investment support policies, diversify investment opportunities, and improve access to support for businesses. Additionally, Vinh Phuc will accelerate land compensation and site clearance processes to ensure a ready land fund for new factories and projects, streamline administrative procedures, and address any obstacles in issuing investment and related licenses.

For Thai investors, Vinh Phuc will continue to encourage and orient investment flows into supporting industries, especially the automobile, motorbike, and manufacturing industries through conferences to assist Thai businesses to research, survey and explore investment opportunities in Vinh Phuc. The province will strengthen diplomatic affairs and friendly cooperation between Vinh Phuc and Thailand, boost mutual understanding and support mutual development.

Bao Ngoc