Vinh Phuc IZs Employ over 132,000 Workers

Despite the global economic recession, tenants in Vinh Phuc province-based industrial zones (IZs) have made great efforts to address difficulties to maintain stable business operations and create jobs for more than 132,000 domestic workers, of which about 80% are locals.

Interflex Vina Co., Ltd in Ba Thien Industrial Park

According to a report released by the Vinh Phuc Industrial Zones Management Board, local IZs attracted 16 new investment projects and saw 19 existing projects increase their investment fund in the first six months of 2023. Regarding foreign direct investment (FDI), they drew US$328.2 million from 11 new projects and 17 existing projects, up 57% year on year and equal to 94% of the full-year plan. Regarding domestic direct investment (DDI), five new projects and two existing projects registered a total of VND4,627.5 billion, equal to 2,004% of the value seen in the same period of 2022 and 154% of the full-year plan.

By June 2023, industrial zones in Vinh Phuc province had attracted 460 projects, including 102 DDI projects with VND31,200.51 billion of investment capital and 358 FDI projects with US$6.14 billion. IZs are employing more than 132,000 workers, of which about 80% are from Vinh Phuc.

To provide high-quality human resources for tenants, the Vinh Phuc Industrial Zones Management Board has closely coordinated with the Department of Labor, Invalids and Social Affairs to launch the following projects: applying high-quality human resources development policies and programs; surveying labor demand of tenants in IZs to consult and propose demand-based training policies to the provincial government; strengthening the connectivity of governmental agencies, schools and companies in training and employment to meet the rising demand for high-quality workers.

At the same time, the board completed digitizing the labor database in IZs; further strengthening communications and guidance for tenants to understand and strictly comply with labor laws; building a harmonious employer-employee relationship; and stabilizing labor supply resources to meet the needs of domestic and foreign investors in Vinh Phuc province.

By Tran Ngoc, Vietnam Business Forum