Investment and Project Deployment Surges in Vinh Phuc IPs in August 2019

10:03:00 AM | 9/9/2019

In August 2019, the Vinh Phuc Industrial Parks Authority licensed six new projects and allowed four existing projects to scale up their registered capital, totaling US$50.51 million and VND16.42 billion (US$700,000).

Accordingly, the authority granted investment certificates to six foreign direct investment (FDI) projects with a total investment of US$7.2 million and permitted four existing projects to add to their investment fund, including three FDI projects with US$43.31 million and one domestic direct investment (DDI) project with VND16.42 billion. The total newly registered investment fund reached US$50.51 million and VND16.42 billion in August 2019.

In the first eight months of 2019, Vinh Phuc province-based industrial parks attracted 46 new FDI projects and allowed 32 projects to scale up their investment base, totaling US$530.63 million (new grants: US$242.52 million and added investment: US$288.1 million), 2.2 times the investment fund from the same period in 2018 and equal to 190% of the yearly plan. They also licensed eight new DDI projects and five existing projects with a total registered capital of VND2,662.78 billion (new grants: VND2,585.8 billion, added capital: VND76.98 billion), a year on year growth of nine times, fulfilling 190% of the yearly plan.

To date, the industrial parks are housing 336 projects, including 60 DDI projects with VND14,452.67 billion of investment capital and 276 FDI projects with US$3,683.51 million. 247 projects are involved in manufacturing, accounting for 73.5% of projects. 31 projects are under construction; and 53 projects are carrying out procedures for project deployment, land compensation and site clearance. Five FDI ​​projects are being rescheduled and surrendered operation (accounting for 1.5% of total projects). Disbursed capital reached US$28.16 million and VND13 billion in August 2019.

In the month, the authority made a report and asked the Provincial People’s Committee to add petroleum business to the allowed fields of investment attraction in Binh Xuyen Industrial Park, with the new business subject to the Prime Minister’s Decision 27/2018/QD-TTg dated July 6, 2018 on Vietnamese economic sector system; report to the Provincial People’s Committee on plastic pipe factory project of Nhat Minh Production Investment Joint Stock Company in Thai Hoa - Lien Son - Lien Hoa Industrial Park.

The Vinh Phuc Industrial Parks Authority consulted the Department of Construction on decision on sixth local adjustment of Khai Quang Industrial Park; changes in detailed plan of Ba Thien Industrial Park; changes in the master construction planning of Vinh Phuc Urban Area: Proposing changes in the plan of Phuc Yen Industrial Park which will be relocated to other places, supplementing the planning of Tam Duong I Industrial Park - Section 4 to a position adjacent to the northwest of National Highway 2C and adjacent to the north of Hoang Dan Industrial Complex under the Vinh Phuc Planning to 2030, with a vision to 2050.

In September 2019, the authority will issue investment certificates for 3-5 new projects and allow four FDI projects to change their registered investment capital with a total of US$30 million. The agency will license one new project and two existing DDI projects to add their investment fund, totaling VND80 billion (US$3.5 million). It will continue to direct infrastructure developers to speed up construction of industrial parks under the progress approved by the Provincial People’s Committee and attract more investment capital into such industrial parks as Lap Thach I, Lap Thach II, Tam Duong I - Section II, and Thai Hoa - Lien Son - Lien Hoa.

Nguyet Tham