Optimistic Business Performance in Vinh Phuc IZs

9:38:44 AM | 7/12/2023

The business performance of tenants in industrial zones (IZs) in Vinh Phuc province was relatively optimistic in the first six months of 2023, said the Vinh Phuc Industrial Zones Management Board.

Specifically, foreign direct investment (FDI) firms made total revenue of US$4,96 billion and export value of US$4.45 billion and paid VND2,504.63 billion (US$109 million) to the state budget. Domestic direct investment (DDI) companies fetched gross revenue of VND5,899.4 billion (US$256.5 million) and export value of VND399.04 billion (US$17.4 million) and paid VND126.1 billion (US$5.5 million) to the state budget, equal to 69% of the value in the same period of 2022. From January to June 2023, tenants in industrial zones employed 4,499 new workers, bringing their total workforce to 132,529 workers as of June 15, 2023, including 74,002 Vinh Phuc people, accounting for 55.8% of the total.

Cammsys Vietnam Co., Ltd in Ba Thien Industrial Park

In the last six months of 2023, the board will continue to support tenants to deal with their difficulties and obstacles to stabilize their production and business activities. FDI firms are expected to have aggregate revenue of US$5.23 billion, export value of US$4.67 billion, and tax payment of VND2,500 billion (US$108.7 million), up 3%, 2% and almost unchanged from the first half of 2023, respectively. DDI projects are estimated to make combined revenue of VND6,500 billion, export value of VND420 billion, and tax payment of VND130 billion, up 10%, 5%, and 5% against the first half of the year, respectively.

Tenants in Vinh Phuc industrial zones are expected to hire 8,000 - 8,500 more workers in the second half of the year.

By Le Nam, Vietnam Business Forum