Vinh Phuc IPs Employ over 82,000 Workers

10:14:04 AM | 12/2/2019

Vinh Phuc currently has 18 approved industrial parks (IPs) covering a total area of over 5,228 ha, of which 11 IPs are in operation with a combined area of over 2,159 ha, according to the report by the Vinh Phuc Industrial Parks Authority. The occupancy rate of rentable industrial land is over 62%. Many IPs have high occupancy rates such as Ba Thien, Binh Xuyen and Khai Quang.

In the year to the end of October, industrial parks in Vinh Phuc province attracted 55 new FDI projects and allowed 42 projects to increase their investment value with a total registered budget of more than US$655 million, 2.5 times higher than the value made in the same period of 2018 and equal to 243% of the yearly plan. Local industrial parks also licensed eight new DDI projects and permitted five projects to add their investment value, totaling over VND2,662 billion, an increase of 9 times in investment value from the same period of 2018 or 321% of the full-year plan. Vinh Phuc is also the investment destination of many giant firms like Honda Vietnam, Toyota Vietnam Piaggio, Sumitomo, Jahwa Vina, Heasung Vina, Prime Group, and Viet Duc Steel Pipe Joint Stock Company.

Tenants in industrial parks are operating stably and employing more than 82,000 workers each of whom is paid VND6 - 9 million per month on average. Notably, Khai Quang Industrial Park generates over 40,000 jobs, Ba Thien I Industrial Park and Ba Thien II Industrial Park hire more than 20,0000 workers, Binh Xuyen I Industrial Park provides work for more than 10,000 employees. Especially, in the next 2-3 years, labor demand in Vinh Phuc industrial parks will be huge when Thang Long Vinh Phuc Industrial Park completes and attracts dozens of big investment projects from Japan which will recruit a lot of workers.