The northern province of Vinh Phuc has attracted more than 425.9 million USD in foreign direct investment (FDI) in 2022, 42% higher than its yearly plan.
Thang Long industrial park in Vinh Phuc (Photo: VNA)
Vinh Phuc (VNA) – The northern province of VinhPhuc has attracted more than 425.9 million USD in foreign direct investment (FDI) in 2022, 42% higher than its yearly plan.
According to the provincial Management Board of IndustrialParks, Vinh Phuc now has 16 industrial parks with a total area of 3,100hectares, eight of which have been put into operation with occupation ratio of over95%.
After the COVID-19 pandemic was controlled, Vinh Phuc hasfocused on overcoming its consequences and stablised production of local firms by giving them numerous support.
KC Chen, General Director of Compal Vietnam Co. Ltd., in Ba Thien industrial park, said that the company has been provided with helpful information and assistance inadministrative procedures. As a result, its revenueis equal to 63% of the figure recorded last year, with social welfare for workersensured.
This year, the provincial Management Board of Industrial Parks has granted licences to 26 new FDI projects and approved capital adjustments for 35 existing ones.
The new projects came from six countries and territories – the Republicof Korea, Japan, China, Taiwan (China), Singapore and British Virgin Islands. RoK-fundedprojects accounted for 54% of the total FDI projects in the local industrial parks.
Along with calling for more investments through promotionactivities inside the country, Vinh Phuc also organised activities inother countries such as Singapore and Malaysia to draw more FDI./.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Thang Long industrial park in Vinh Phuc (Photo: VNA) 
