Vinh Phuc IPs Continuing to Recruit More Workers

8:59:42 AM | 3/8/2020

According to Vinh Phuc Industrial Parks Authority, many enterprises in Vinh Phuc industrial parks (IPs) have been affected by Covid-19. Many local economic indicators have decreased over the same period of last year.

Currently, Vinh Phuc IPs has 306 active projects including 262 foreign direct investment (FDI) projects and 44 domestic direct investment (DDI) projects. In the first six months of 2020, the development of the Covid-19 pandemic in the world was complicated, resulting in shrinkage in import and export markets, stagnancy in production and business activities of enterprises. Local economic indicators have decreased by 15%-27% compared to the same period last year. However, with the good containment of the pandemic, along with the efforts of overcoming difficulties of enterprises, in the first six months, the province put 37 more projects into operation, attracting thousands of new workers. The production and business situation of DDI enterprises was more volatile, so some indicators of export turnover and budget contributions decreased 14%-15% over the same period.

Specifically, the turnover of FDI enterprises in the first six months of 2020 reached US$2,635.04 million, up 1%; their export value reached US$2,199.45 million, up 4%; they contributed VND1,338.03 billion to the State budget, an increase of 4% over the same period in 2019. DDI enterprises had turnover VND5,286.14 billion in the first six months, an increase of 2% over the same period; they exported VND29.9 billion of products and contributed VND142.16 billion to the State budget, equaling 74% compared to the same period in 2019. Up to now, enterprises in the IPs have created over 92,470 jobs.

It is expected that in the last six months of 2020, enterprises in IPs will enjoy better growth. Domestic enterprises are expected to earn VND6,898 billion, up 30% and export VND38.65 billion of products, up 55% and contribute VND198.2 billion to the State budget, up 39% compared to the first six months. FDI enterprise are expected to earn US$2,766.79 million, up 5%; export US$2,331.42 million of products, up 6% and contribute VND1,338.03 billion to the State budget, approximately equal to the first six months of 2020.

In order to complete the targets and plans of 2020, most enterprises in Vinh Phuc IPs are in need of recruiting more workers. It is expected that from now until the end of the year, they will recruit about 2,000 new employees.

By Thanh Loan, Vietnam Business Forum