Vinh Phuc IPs Attract 60 New FDI Projects in Jan-Nov

10:31:38 AM | 12/16/2019

The Vinh Phuc Industrial Parks Authorities licensed five new foreign direct investment (FDI) projects with a combined registered capital of US$13.8 million and allowed three FDI projects to increase their service value of US$70.82 million in November 2019, totaling US$84.62 million in the month.

From January to November, Vinh Phuc province-based industrial parks attracted 60 new FDI projects and witnessed 45 projects raising their investment value by US$740.17 million (US$333.22 million from fresh projects and US$406.95 million from existing projects), 2.6 times that of the same period of 2018 and equal to 274% of the yearly plan. Local industrial parks also had eight DDI projects and saw five projects adding their investment value, totaling VND2,662.78 billion (VND2,585.8 billion from new projects and VND76.98 billion from existing projects), 6.2 times that of the same period a year ago and equal to 321% of the full-year plan.

To date, 349 valid projects are located in industrial parks, including 60 DDI projects with VND14,452.67 billion (US$630 million) of investment capital and 289 FDI projects with US$3,888.56 million. Among them, 257 projects have gone into operation (accounting for 74% of total projects); 30 projects are under construction and installing factory equipment; 57 new projects have recently granted investment certificates; and five FDI ​​projects are rescheduling and carrying out operational termination procedures (accounting for 1% of total projects). In November 2019, licensed projects spent US$31.79 million and VND13 billion.

In the month, the Vinh Phuc Industrial Parks Authorities worked with the Song Lo District People’s Committee on industrial park development and study new industrial park development proposals to prepare for the master planning for Vinh Phuc province; worked with An Thinh Vinh Phuc Construction Investment Co., Ltd. on an escrow agreement to ensure the implementation of infrastructure construction in Son Loi Industrial Park; instructed Vina-CPK Co., Ltd to compile documents on infrastructure construction and operation in Lap Thach Industrial Park I and Lap Thach Industrial Park II; urged Housing Development and Trading Joint Stock Company to invest in building Ba Thien Industrial Park - Section I as scheduled: Completing wastewater pipes to the waste treatment facility and bring the wastewater treatment facility in Ba Thien Industrial Park before December 31, 2019; developed an operation plan and signed a wastewater collection and treatment contract with tenants in Ba Thien Industrial Park.

In December 2019, the Vinh Phuc Industrial Parks Authorities expected to issue investment certificate for 2-4 new FDI projects and allowed 2-3 FDI projects to revise their investment value with a total value of US$20-30 million; grant the investment certificate for one DDI project and allow one DDI project to invest VND50 billion. The province will continue to direct infrastructure development companies to speed up construction of industrial parks as scheduled by the Provincial People’s Committee; address issues concerning infrastructure construction and business investment in Thai Hoa - Lien Son - Lien Hoa Industrial Park (Section 2); and continue to attract investment in industrial parks.