Electric, Electronic Supporting Industry Pays VND914 Bln to State Coffers in Jan-Sep

Vinh Phuc province-based industrial parks housed 254 operational projects (including 216 FDI projects and 38 DDI projects) by September 2019, accounting for 74% of total investment projects in the area. With their efforts for active innovation, market expansion and product quality improvement, tenants in industrial parks reported better business performances than a year earlier.

Supporting industries for electric and electronic industries were the biggest contributors to the State Budget in the year to September, thanks to high revenue and export value. Their revenue was estimated at over US$2,587 million in the first nine months of 2019, up 8% year on year; and their export value rose 5% year on year to more than US$2,220 million. Their payment to the State Budget climbed 10% from a year ago to VND914.53 billion. Currently, electronic and electronic supporting companies are employing nearly 50,000 workers, more than 2,500 people more than the number counted on December 31, 2018.

To achieve the above results, in addition to the improvement of Vinh Phuc investment environment, electric and electronic supporting enterprises expanded their production, raised working capital and recruited more workers. Strong performers included Haesung Vina Co., Ltd, Partron Vina Co., Ltd, Jahwa Vina Co., Ltd, Solum Vina Co., Ltd, DST Vina Co., Ltd, and Sekonix Vina Co., Ltd.

In the coming time, Vinh Phuc will continue to support local enterprises, improve the investment environment and administrative reform, deal with difficulties against enterprises and facilitate their business operations. At the same time, the province will encourage them to invest more in technological upgrades and launch new products to meet the demand by electronic manufacturers and assemblers and expand consumer markets to boost local socioeconomic development.

NT