Vinh Phuc IPs Attract 12 New Projects in First Six Months

9:39:13 AM | 16/7/2020

The Vinh Phuc Industrial Parks Authority licensed 12 new projects and allowed 22 projects to increase their registered capital, with a total registered value of US$101.83 million and VND394.4 billion, in the first six months of 2020.

Industrial parks in Vinh Phuc province attracted two new domestic direct investment (DDI) projects and permitted one project to scale up with a total registered capital of VND394.4 billion (new grants: VND381.27 billion and added capital: VND13.16 billion), up 21% year on year and equal to 48% of the plan in 2020. They also licensed 10 new foreign direct investment (FDI) projects and allowed 21 projects to supplement their investment fund with a total registered value of US$101.83 million (new grants: US$25.44 million and added capital: US$76.39 million), equaling 26% of the value a year ago and reaching 31% of the full-year plan in 2020.

Among 12 newly attracted projects from January to June, six are involved in manufacturing electronic devices and components (accounting for 50%), two manufacture automobile and bicycle components (16.7%) and four are engaged in other industries (33.3%).

Among 10 newly attracted FDI projects, two come from Japan (with a total registered capital of US$16.82 million), six from South Korea (US$3.13 million), one from Taiwan (US$5 million) and one from China (US$480,000).

To date, industrial parks in Vinh Phuc province are housing 364 valid projects, including 63 DDI projects with VND14,956.92 billion (US$570 million) of investment capital and 301 FDI projects with US$4,170.57 million of investment capital. By location, Khai Quang Industrial Park has attracted 87 projects, including 12 DDI projects (VND744.99 billion) and 75 FDI projects (US$1,187.38 million), including 83 projects in operation. The occupancy ratio has reached 98%. Binh Xuyen Industrial Park has 121 projects, including 37 DDI projects (VND3,772.37 billion) and 84 FDI projects (US$649.76 million), including 97 projects in operation. The land occupancy rate is 100%. Binh Xuyen II Industrial Park (Phase 1) attracted 56 FDI projects (US$303.54 million), with 56 projects in operation. The occupancy rate is 100%. Ba Thien Industrial Park has 32 projects, including six DDI projects (VND2,650.28 billion) and 26 FDI projects (US$881.98 million), with 26 projects in operation. The occupancy rate is 30%. Ba Thien II Industrial Park has 51 projects, including three DDI projects (VND1,299.12 billion) and 48 FDI projects (US$804.54 million), including 34 projects in operation. The occupancy rate reaches 63%. Thang Long Vinh Phuc Industrial Park has attracted nine FDI projects (US$259.02 million, with two projects in operation. The occupancy rate is 14%. Tam Duong II Industrial Park - Section A has attracted two DDI projects (VND4,224.8 billion), with one in operation. The occupancy rate reaches 64%. Son Loi Industrial Park is being built and expected to attract investors in the coming time.

Investors disbursed VND265 billion for DDI projects in the first six months of 2020, bringing their total disbursement value to VND8,521.12 billion by the end of June 2020, equal to 57% of their registered value. Foreign investors spent US$185.76 million in the period, bringing its disbursed value to US$2,467.55 million by the end of June 2020, accounting for 59% of the total.

In the last six months of 2020, the Vinh Phuc Industrial Parks Authority will further boost investment promotion to attract selective investment projects for its development plans, aligned with sustainable development, from traditional markets like Japan, South Korea, China and Taiwan (China), target potential markets like the United States, the European Union (EU) and other countries signatory to new FTAs, CPTPP and AEC. Local industrial parks hope to attract 10-12 more FDI projects with a combined registered capital of US$120-150 million and three new DDI projects with VND100-300 billion of investment capital. The board will press on the progress of ongoing projects so as to have 15-17 more projects go into operation and witness US$170 million of FDI fund and VND300-350 billion disbursed in the period.

Source: Vinh Phuc Industrial Parks Authority