Vinh Phuc IPs Attract 14 FDI Projects in Jan-Jul

9:04:59 AM | 31/8/2020

According to the Vinh Phuc Industrial Park Authority, in July 2020, it licensed four foreign direct investment (FDI) projects, with a total investment capital of US$14.8 million; and adjusted capital for five projects, including four FDI projects with a total additional investment capital of US$22.2 million and one domestic direct investment (DDI) project, with a total additional investment capital of VND8.5 billion.

In the first seven months of 2020, industrial parks in Vinh Phuc province attracted 14 new FDI projects and increased investment capital for 25 projects with a total registered capital of US$138.83 million.

Up to now, the number of valid projects in Vinh Phuc IPs is 367, including 62 DDI projects with a total investment capital of VND14,877.15 billion and 305 FDI ​​projects with a total investment capital of US$4,207.57 million. In which, there are 309 active projects, accounting for 84.2% of the total number of projects; 22 projects which are in the process of construction and installation of factory machinery and equipment; 31 newly licensed projects that are conducting the procedures of implementation, compensation and ground clearance; 5 FDI ​​projects that are undergoing procedures to terminate their operations.

In July 2020, the authority advised and proposed the People's Committee of Vinh Phuc province on the adjustment and supplementation of the planning for development of IPs to 2020; proposed the Ministry of Planning and Investment appraise and submit to the Prime Minister for approval of the investment policy of the project on technical infrastructure development of Song Lo I IP; worked on the proposal document for investment policy in Song Lo II IP; coordinated in reviewing land fund and proposed a list of IPs in Vinh Phuc province for the period 2021-2025, with a vision to 2030; urged investors to clear the ground, to deploy projects of Binh Xuyen IP and Son Loi IP.

It is expected that in August 2020, the authority will license two or three FDI projects with a total registered investment capital of about US$15-20 million and one DDI project with a registered investment capital of about VND60 billion. It will continue assisting enterprises in implementing projects, directing the infrastructure developers to accelerate the construction of IPs according to the progress approved by the Provincial People's Committee.

Source: Vietnam Business Forum