Vinh Phuc IPs Attract Many Projects

11:14:56 AM | 7/10/2020

Industrial parks in Vinh Phuc province attracted 15 new FDI projects and witnessed 32 projects add investment funds, according to the Vinh Phuc Industrial Parks Authority. They registered to invest a total of US$221.61 million, down 58% year on year and equal to 67% of the full year plan.

In August 2020, the Vinh Phuc Industrial Parks Authority issued new investment registration certificates to two projects, including one FDI project with a total registered investment value of US$500,000 and one DDI project with VND100 billion (US$4.3 million), and allowed seven FDI projects to add US$82.27 million to their registered investment fund. In the month, local industrial parks attracted US$82.77 million and VND100 billion.

In the first eight months of 2020, industrial parks in Vinh Phuc province attracted 15 new FDI projects and allowed 32 projects to increase their investment value by US$221.61 million (fresh projects: US$40.74 million and existing projects: US$180.86 million), equal to 42% of the value in the corresponding period in 2019 and 67% of the yearly plan. They also drew two new DDI projects and permitted two projects to invest VND414.66 billion (new projects: VND393 billion and existing projects: VND21.66 billion), equal to 16% of the value in the same period in 2019 and 50% of the yearly plan.

To date, the number of valid projects in industrial parks is 369, including 63 DDI projects with VND14,977.15 billion (US$650 million) of investment capital and 306 FDI projects with US$4.27 billion. Among them, 314 projects are operational, accounting for 85.1% of total projects, 21 projects are under construction, 29 projects are dealing with initial investment procedures, and five FDI projects are preparing for operational termination. The disbursed value in August was US$30.81 million and VND10 billion.

In August, the Vinh Phuc Industrial Parks Authority advised and proposed the Vinh Phuc Provincial People’s Committee to consult the Prime Minister and the Standing Board of the Provincial Party Committee for auctioning land-use rights and get advance money from the Land Development Fund for further land compensation and ground clearance in Tam Duong II Industrial Park - Zone B.

In September 2020, the Vinh Phuc Industrial Parks Authority granted investment certificates to 2-3 FDI projects with US$15-20 million of investment capital and one DDI project with about VND180 billion. It guided and supported tenants to carry out projects, expected to have 2-3 more projects to go into production; and directed infrastructure development companies to accelerate construction progress as approved by the Provincial People’s Committee.

By Nguyet Tham, Vietnam Business Forum