Boosting Investment Promotion

Vinh Phuc province has always paid due attention to investment promotion and attraction, especially foreign direct investment (FDI), which is illustrated by the province’s investment for economic development in recent years. Right in early 2019, provincial leaders worked with many big domestic and foreign investor delegations and organized many investment promotion delegations to many regions in the world to call for investment cooperation with the province.

To catch the investment wave from Europe, after the EU - Vietnam Free Trade Agreement (EVFTA) was signed, Vinh Phuc province sent an investment promotion mission to the Netherlands, Germany and Czech Republic from August 24, 2019 to September 2, 2019, led by Ms. Hoang Thi Thuy Lan, Secretary of the Provincial Party Committee. During the tour to the three European countries, she informed local social and economic development; introduced local competitive advantages and potential; and affirmed investment policies, infrastructure system, incentives for foreign investors. Seeing the success of investors as its success, Vinh Phuc is calling investors to invest in high-tech agriculture, environmental treatment, new materials, renewable energy, health services, education, tourism and smart cities.

Besides, she proposed that ambassadors and State administrations support the province to provide information on potential and strengths of Vinh Phuc province to businesses; enhance working delegation exchanges to learn, share professional experience, state management, and business support policies. The visit to the Netherlands, Germany and Czech Republic opened up many investment cooperation opportunities with potential European investors and promised many outcomes in investment attraction from Europe in the coming time.

In the United States, on September 9, 2019, within the framework of an investment promotion program in the United States, the Vinh Phuc Provincial People's Committee in coordination with the Vietnamese Consulate General in San Francisco and the Vietnam - America Business Association (VABA) held an Investment Promotion Conference in Oakland, California. Mr. Nguyen Van Tri, Chairman of the Provincial People's Committee, introduced the overview of Vinh Phuc and local investment cooperation opportunities; called on U.S. investors to invest in automobile engineering, electronic technology, supporting industries for automobile and electronics engineering, high-tech agriculture, new material, renewable energy, travel, education and training, healthcare, environment treatment and smart city. The Investment Promotion Conference in Oakland opened up many opportunities to attract investment in Vinh Phuc province from U.S. investors.

The province has also convinced existing investors to recommend the province to new investors. With the principle “All investors in Vinh Phuc are citizens of the province - Their success is the success and pride of the province”, Vinh Phuc has introduced many preferential investment policies; accelerated administrative procedure reform, created an open, attractive and competitive investment and business environment in order to create the most favorable conditions for businesses. Thus, Vinh Phuc is always an attractive destination for all investors.

Nguyet Tham