Vinh Phuc Launches 9 New Projects in July

In addition to improvement in investment attraction, Vinh Phuc's industrial parks have also seen notable efforts from enterprises in their investment and business activities. In July 2024, nine new domestic projects commenced operations.

Production operations at Ohashi Tekko Vietnam, Binh Xuyen Industrial Park, Vinh Phuc province

According to the Vinh Phuc Industrial Parks Management Board's report, as of July 15, 2024, Vinh Phuc’s industrial parks host 413 active projects, including 333 foreign direct investment (FDI) projects and 80 domestic direct investment (DDI) projects, representing 83.43% of all investment projects. In July, nine additional domestic projects began operations.

Among the 82 projects that have not yet commenced operations, the breakdown is as follows: 13 projects are currently under construction and equipment installation, representing 2.63% of the total number of projects; 61 newly granted projects are in the process of completing implementation procedures, accounting for 12.32%; four projects are in the compensation and site clearance phase, constituting 0.81%; and four are delayed and have yet to be implemented, also making up 0.81% of the total.

Investment projects have shown positive progress in capital implementation. For FDI projects, the implemented capital in July 2024 was US$446.52 million, bringing the total for the first seven months of 2024 to US$276.18 million, a 6% increase over the same period in 2023 and 79% of the 2024 target. As of July 15, 2024, the cumulative implemented capital for FDI projects stands at US$4,111.1 million, which is 61.2% of the total registered investment capital. For DDI projects, the realized capital in July 2024 amounted to VND1,491.71 billion, raising the total realized capital for the first seven months of 2024 to VND2,761.75 billion - 3.2 times that of the same period in 2023 and 184% of the 2024 target. Cumulatively, as of July 15, 2024, the realized capital for DDI projects in industrial parks is VND16,329.81 billion, representing 43% of the total registered investment capital.

The Vinh Phuc Industrial Parks Management Board has played a significant role in achieving these results. It has closely monitored all investor and enterprise activities within the industrial parks, addressing and resolving challenges and obstacles within its scope of authority.  It has effectively met the immediate needs of enterprises and responded promptly and satisfactorily to their inquiries and recommendations.

By Le Nam, Vietnam Business Forum