Tenants in IPs Employ over 92,000 Workers

10:29:55 AM | 26/10/2020

Vinh Phuc province-based industrial parks attracted 316 operational investment projects, including 272 FDI projects and 44 DDI projects, by the end of September 2020, according to the Vinh Phuc Industrial Parks Authority. Tenants provided jobs for over 92,000 workers, including over 72,000 locals, accounting for 78% of the workforce in the industrial parks.

Foreign direct investment (FDI) projects reported better business performance than last year, with 40 more projects that employed thousands of new workers.

Specifically, FDI firms reported revenue of US$4,339.36 million in the first nine months of 2020, 2% higher than a year-ago period and export value of US$3,431.57 million, up 7%. Their payment to the State Budget reached VND2,112.6 billion (nearly US$100 million), 4% more than a year earlier. Meanwhile, DDI companies obtained revenue of VND8,156.88 billion from January to September 2020, down 1% year on year, and export value of VND36.37 billion, down 9%. Their tax payment to the State coffers grossed VND177.7 billion, equal to 64% of the value a year ago.

Their business indicators are expected to be good in the last three months of 2020. DDI projects are forecast to rake in revenue of VND2,898 billion and export value of VND21.6 billion and pay VND40.2 billion to State coffers. Meanwhile, FDI projects are estimated to generate revenue of US$1,463 million and export value of US$1,164 million and pay VND891 billion to the State Budget. Tenants in industrial parks are hoped to employ 1,000 more workers in the remaining months of the year.

Thanh Loan (Vietnam Business Forum)

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