Vinh Phuc Industrial Parks Attract 24 New FDI Projects in Seven Months

In July 2024, the Vinh Phuc Industrial Parks Management Board licensed four new projects. This includes three foreign direct investment (FDI) projects with a combined registered capital of US$20 million and one domestic project with a registered capital of VND 1,121.58 billion. The total newly registered and increased investment capital for the month reached US$37.43 million and VND1,260.51 billion.

Ba Thien II Industrial Park features modern development with a green, clean, and attractive landscape, making it a desirable destination for investors

In the first seven months of 2024, Vinh Phuc's industrial parks attracted 24 new FDI projects, and 24 projects with increased capital, totaling US$377.2 million in new and expanded investments. This includes US$173.9 million in new investments and US$203.3 million in increased capital, representing 90% of the previous year's figures and 108% of the 2024 target. Additionally, nine new domestic projects and five projects with increased capital were secured, amounting to VND2,960.53 billion in total investments - VND1,894.51 billion in new investments and VND1,066.02 billion in increased capital. This represents 58% of the previous year's investment and 197% of the 2024 plan.

As of July 15, 2024, Vinh Phuc's industrial parks host 495 valid investment projects. This includes 118 domestic projects with a total investment of VND37,724.64 billion and 377 FDI projects with a total investment of US$6,720.89 million.

In August 2024, the Vinh Phuc Industrial Parks Management Board plans to issue investment registration certificates and adjust capital increases for 2-3 FDI projects, totaling approximately US$10-15 million. Additionally, the board aims to issue and adjust capital increases for 1-2 domestic investment (DDI) projects, with a combined registered capital of about VND 50-100 billion.

To achieve its targets, the Vinh Phuc Industrial Parks Management Board will intensify efforts in investment promotion and attraction. This will include a focus on on-site investment promotion, allowing potential investors to experience firsthand the investment and business environment in the province's industrial parks. It is aimed at facilitating accurate and prompt investment decisions, encouraging investors to commit to the province's industrial parks as quickly as possible.

By Quynh Ngoc, Vietnam Business Forum