Vinh Tuong District Ready to Welcome Investors

In recent years, Vinh Tuong district of Vinh Phuc province has flexibly applied preferential policies, effectively utilized local advantages, focused on site clearance, gradually completed infrastructure investment to serve domestic and foreign investors.

Determining that administrative reform is a key task to creating an open investment environment and improving competitiveness, Vinh Tuong district has made many breakthroughs in administrative reform to top other localities in Vinh Phuc province by the administrative reform index. Mr. Le Chi Thai, Vice Chairman of Vinh Tuong District People’s Committee, said, “We will reform administrative procedures to be more streamlined. At the same time, the province regularly hosts business dialogues to learn about opinions and recommendations from enterprises and resolve their business hardships. Besides, to create favorable conditions for investors, Vinh Tuong will focus on building infrastructure and many industrial parks. Currently, the district has one large-scale industrial park and nine small-scale industrial clusters with a total area of ​​over 450 ha.”

Starting operation in late 2011, Viet Thien Garment Co., Ltd is one of pioneers in Dong Soc Industrial Complex, Vu Di Commune, Vinh Tuong District. The company is making all garments for export to Japan, Europe and the Americas. As a result, the firm always ensures a stable income for more than 3,000 local workers, each of whom is paid VND5-6 million a month.

Mr. Chu Chun Po, Director of Viet Thien Garment Co., Ltd, said, “Since its official operation, the company has witnessed no incident related to employees. Whenever we face other hardships, we get support from local authorities for timely solution to all problems.”

With public unanimity, the effort of district authorities and the support of the Party and the Government of Vinh Phuc province, Vinh Tuong has created a vast land bank and a transparent investment environment to entice many domestic and foreign corporations. Specially, on October 12, 2019, at the meeting hall of Vinh Tuong District Party Committee, Interflex and Yong Poong of South Korea and Vinh Phuc Trade Investment Co., Ltd - the investor of Dong Soc Industrial Complex - signed an in-principle land lease contract to hire land at Song Soc Industrial Complex.

At the signing ceremony, Interflex CEO Lee Keun Bae promised to build the best project in Dong Soc Industrial Complex, create many jobs for people in Vinh Tuong district in particular and Vinh Phuc province in general. The project will conduct environmentally friendly production and fully comply with local tax obligations. At the same time, he also thanked Vinh Phuc province’s leaders for creating the best conditions for his company to invest and operate. Interflex Group planned to invest over US$800 million in a high-tech electronic component factory and hire about 15,000 employees. When going into operation, the project will have a strong impact on local economic restructuring, from agriculture to industry and services; create stable jobs, raise incomes for people, and modernize the locality. It will help the district to realize the goal of raising the share of industry and construction in the local economy to 49.8% in 2020 and 55% in 2030.

With its available advantages, Vinh Tuong district is showing the image of a dynamic, creative locality that is willing and ready to welcome investors and always works together with local businesses when they are in the district.

N.T